Printer Friendly

PHILADELPHIA SUBURBAN CORPORATION ANNOUNCES LIMITED STOCK OFFERING TO CUSTOMERS

 BRYN MAWR, Pa., Dec. 1 /PRNewswire/ -- Beginning today, through Dec. 15, Philadelphia Suburban Corporation (NYSE: PSC), parent company of Philadelphia Suburban Water Company (PSW), will offer 100,000 shares of common stock to PSW customers through its regular Customer Stock Purchase Plan.
 Participation in PSC Customer Stock Purchase Plan is limited to residential customers of Philadelphia Suburban Water Company, including condominium owners and apartment renters who are water consumers but do not have individual customer accounts.
 The 15-day offering is the third and final of three identical offerings made available to customers during three 15-day subscription periods during 1993.
 Shares will be sold on a "first come, first served basis." Should all 100,000 shares be sold prior to the end of the 15-day period, the subscription period will be closed effective at that time.
 The price of the stock during the Dec. 1-15 subscription period is $18.18 per share. Customers may invest no loss than $250 and no more than $30,000 annually.
 PSC currently pays a dividend of $1.08 per share annually for a current yield of 6 percent. The company has paid consecutive quarterly dividends, continuous since 1944.
 The offering to sell stock through the Customer Stock Purchase Plan will be made only by means of the prospectus. A prospectus of the Customer Stock Purchase Plan is available upon request to customers of PSW without any obligation or commitment.
 /delval/
 -0- 12/1/93
 /CONTACT: Donna Alston, director, corporate communications, of Philadelphia Suburban, 215-645-1095/
 (PSC)


CO: Philadelphia Suburban Corporation; Philadelphia Suburban Water
 Company ST: Pennsylvania IN: UTI SU: OFR


MK-MJ -- PH014 -- 9211 12/01/93 11:24 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Dec 1, 1993
Words:273
Previous Article:COMCAST TESTS ADVANCED TECHNOLOGY FOR PERSONAL COMPUTERS
Next Article:TOKHEIM CORP. AND VERIFONE INC. FORM STRATEGIC ALLIANCE TO DELIVER INTEGRATED POS SOLUTIONS FOR SERVICE STATION AUTOMATION
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters