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NIPSCO INDUSTRIES, INC. DECLARES PREFERRED DIVIDENDS

 NIPSCO INDUSTRIES, INC. DECLARES PREFERRED DIVIDENDS
 HAMMOND, Ind., Jan. 31 /PRNewswire/ -- Directors of NIPSCO


Industries, Inc. (NYSE: NI) today declared a dividend of $2.1875 per share on the outstanding 8.75 percent cumulative preferred stock, payable April 14, 1992 to shareholders of record at the close of business March 16, 1992.
 Directors of Northern Indiana Public Service Company, a subsidiary of NIPSCO Industries, Inc., declared dividends on the following preferred and preference stocks:
 $1.0625 a share on 4-1/4 percent cumulative preferred stock
 $1.13 a share on 4-1/2 percent cumulative preferred stock
 $1.06 a share on 4.22 percent cumulative preferred stock
 $1.22 a share on 4.88 percent cumulative preferred stock
 $1.86 a share on 7.44 percent cumulative preferred stock
 $1.87 a share on 7.50 percent cumulative preferred stock
 $2.2125 a share on 8.85 percent cumulative preferred stock
 $1.9375 a share on 7-3/4 percent cumulative preferred stock
 $2.0875 a share on 8.35 percent cumulative preferred stock
 $3.1375 a share on 12.55 percent cumulative preferred stock
 $0.75 a share on the adjustable rate cumulative preferred stock, Series A.
 All of the above are payable on April 14, 1992, to shareholders of record at the close of business March 16, 1992.
 -0- 1/31/92
 /CONTACT: Tom Kallay of NIPSCO Industries, Inc., 219-647-6203/
 (NI) CO: NIPSCO Industries, Inc. ST: Indiana IN: UTI SU: DIV


KK -- CL009 -- 5695 01/31/92 14:45 EST
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Publication:PR Newswire
Date:Jan 31, 1992
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/ C O R R E C T I O N -- NIPSCO INDUSTRIES, INC./(Correction Notice)

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