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PUGET POWER BOARD VOTES TO INCREASE COMMON DIVIDEND

 PUGET POWER BOARD VOTES TO INCREASE COMMON DIVIDEND
 BELLEVUE, Wash., April 14 /PRNewswire/ -- The Puget Sound Power & Light Co. (NYSE: PSD) board of directors voted today to increase the quarterly dividend on the company's common stock from 44 cents to 45 cents a share, payable on May 15 to shareholders of record as of April 27. On an annualized basis, this represents a dividend increase from $1.76 to $1.80.
 The board's action marked the first dividend increase on common stock in 11 years.
 John W. Ellis, chairman and chief executive officer, said it is management's goal to continue to improve the company's long-term financial fundamentals so that the board of directors would be able to maintain a pattern of periodic dividend increases. "Now that we have continuing progress in rebuilding our earnings base and are continuing to work with our regulatory commission, customers and other important parties to establish an integrated resource strategy, we are in a position to anticipate more normal long-term financial growth," Ellis said.
 The board also declared an initial dividend of $1.076 on the company's 7.75 percent series Preferred Stock; $1.21 per share on the 4.84 percent Preferred Stock; $1.175 per share on the 4.70 percent Preferred Stock; $2.00 per share on the 8 percent Preferred Stock; and $1.775 per share on the Adjustable Rate Cumulative Preferred Stock, Series A. All are payable May 15 to stockholders of record at the close of business April 27.
 -0- 4/14/92
 /CONTACT: U. Earl Dunn, 206-462-3808, or William J. Fritz, 206-462-3208, both of Puget Sound Power & Light/
 (PSD) CO: Puget Sound Power & Light Co. ST: Washington IN: UTI SU: DIV


LM-SC -- SE013 -- 5928 04/14/92 14:47 EDT
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Publication:PR Newswire
Date:Apr 14, 1992
Words:292
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