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LINCOLN TELECOMMUNICATIONS DECLARES DIVIDEND

 LINCOLN TELECOMMUNICATIONS DECLARES DIVIDEND
 LINCOLN, Neb., June 17 /PRNewswire/ -- The board of directors of


the Lincoln Telecommunications Co. (NASDAQ: LTEC), at its regular quarterly meeting held in Lincoln today, declared a 2 cent increase in the second quarter common stock dividend from 20 cents per share to 22 cents per share. The last dividend increase was in March 1991. Dividends are payable July 10, 1992 to stockholders of record on June 30, 1992. The new indicated annual common dividend is 88 cents per share. The second quarter dividend will be the 221st consecutive dividend paid by the corporation since 1936.
 The board of The Lincoln Telephone and Telegraph Co. also met and declared the second quarter dividend of $1.25 per share on the company's 5 percent preferred stock and the dividend of $1.91 per share on the company's 7.64 percent preferred stock. The board also approved the complete redemption of all outstanding shares of the company's 7.64 percent preferred stock effective July 10, 1992.
 Chairman and Chief Executive Officer James E. Geist reported that Lincoln Telephone continues to invest in its telecommunications infrastructure. With the completion of the digital conversion program in rural communities and the conversion of switching equipment serving the 474 and 475 prefixes in Lincoln scheduled for Dec. 1, 1992, all of the company's customer access lines will be converted to digital switching equipment by the end of the year, making Lincoln Telephone one of the leaders in the nation in the deployment of digital technology. During the second quarter, new digital switching systems were installed in Bruning, Burchard, Cedar Bluffs, Hardy and Dawson, Neb. Geist also noted that the company is continuing to install fiber optics, both in its rural areas and in Lincoln, where a high-speed fiber optic network is nearing completion in downtown Lincoln.
 Geist also reported that Lincoln Telephone Cellular is celebrating five years in operation in Lincoln and Lancaster County, Neb. A customer appreciation day was held at the Cotner and "O" Street cellular headquarters on May 30, 1992. Lincoln Telephone's cellular network now includes 10 cell sites, including a site installed near Ashland, Neb. in April. Installed in cooperation with Nebraska Cellular Telephone Corp., this site provides cellular customers with continuous coverage between Lincoln and Omaha, Neb.
 Geist also reported that sales of Caller ID, which became available in the Lincoln area in May, have been brisk. One of several new Custom Calling services available from Lincoln Telephone, Caller ID allows the called party to see the telephone number of the person making the call and stores the numbers of incoming calls, along with the date and time of each call, for later reference.
 -0- 6/17/92
 /CONTACT: Elaine Carpenter of Lincoln Telecommunications, 402-476-4282/
 (LTEC) CO: Lincoln Telecommunications Co.; Lincoln Telephone and
 Telegraph Co. ST: Nebraska IN: TLS SU: DIV


BB-MC -- DV005 -- 1185 06/17/92 15:37 EDT
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Publication:PR Newswire
Date:Jun 17, 1992
Words:483
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