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MINNESOTA POWER DECLARES DIVIDEND ON COMMON STOCK

 DULUTH, Minn., Oct. 27 /PRNewswire/ -- Regular quarterly dividends on outstanding common and preferred stock were declared today by the directors of Minnesota Power (NYSE: MPL).
 A dividend of 49.5 cents per share of common stock was declared by the board and is unchanged from the previous quarter. On an annual basis the dividend is equivalent to $1.98 per share.
 Dividends on common stock are payable Dec. 1, 1993, to shareholders of record at the close of business Nov. 15, 1993. Minnesota Power has paid cash dividends since 1948 and has approximately 27,000 registered shareholders owning 31 million shares of stock.
 Company directors also declared dividends on all outstanding shares of preferred stock. Preferred dividends are payable Jan. 1, 1994, to shareholders of record at the close of business Dec. 15, 1993.
 Minnesota Power supplies electric power in upper Minnesota and northwestern Wisconsin. Subsidiaries operate water and wastewater treatment utilities in Florida and the Carolinas. Other company-owned businesses include paper manufacturing and coal mining.
 -0- 10/27/93
 /CONTACT: Warren F. Hudelson of Minnesota Power, 218-723-3934/
 (MPL)


CO: Minnesota Power ST: Minnesota, Wisconsin IN: UTI SU: DIV

DB-DS -- MN015 -- 7400 10/27/93 14:13 EDT
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Publication:PR Newswire
Date:Oct 27, 1993
Words:198
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