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PULITZER DECLARES 10 PERCENT SPECIAL STOCK DIVIDEND

 ST. LOUIS, Jan. 4 /PRNewswire/ -- The board of directors of Pulitzer Publishing Company (NASDAQ-NMS, MSE: PLTZ) today declared a 10 percent special stock dividend on its common stock and Class B common stock. The quarterly cash dividend will continue at its current rate of 13.5 cents a share.
 The stock dividend is payable on Jan. 22, 1993, to stockholders of record on Jan. 14, 1993, and the cash dividend is payable on Feb. 1, 1993, to stockholders of record on Jan. 22, 1993.
 The stock dividend effectively increases the company's cash dividend by 10 percent for stockholders of record on Jan. 22, 1993. The cash dividend has been increased in each of the previous five years.
 Joseph Pulitzer Jr., chairman of the board, said, "The stock dividend reflects both the strong performance of the company in 1992, with operating cash flow (see note) up nearly 24 percent through the first three quarters, and our confidence in the company. We believe that the stock dividend, by adding to our outstanding shares, will increase the liquidity of the company's stock."
 Following the stock dividend, Pulitzer Publishing will have about 2.1 million shares of common stock and 9.5 million shares of Class B common stock outstanding.
 The company said that its shares outstanding and all per-share information will be adjusted in its 1992 financial statements to reflect the stock dividend.
 Founded in St. Louis in 1878, Pulitzer Publishing is engaged in newspaper publishing and television and radio broadcasting. The company's newspaper operations include two major metropolitan dailies, the St. Louis Post-Dispatch and The Arizona Daily Star in Tucson, Ariz., and a suburban daily and Sunday newspaper, the Southtown Economist, in the Chicago area.
 Broadcasting operations consist of seven network-affiliated television stations: WYFF in Greenville, S.C.; WGAL in Lancaster, Pa.; WXII in Winston-Salem, N.C.; KOAT in Albuquerque, N.M.; KETV in Omaha, Neb.; WLKY in Louisville, Ky.; and WDSU in New Orleans, La.; and two radio stations (KTAR-AM and KKLT-FM) in Phoenix, Ariz.
 NOTE: Operating cash flow equals operating income plus depreciation and amortization.
 -0- 1/4/93
 /CONTACT: James V. Maloney, director - shareholder relations of Pulitzer, 314-340-8000/
 (PLTZ)


CO: Pulitzer Publishing Company ST: Missouri IN: PUB SU: DIV

GK -- NY075 -- 1431 01/04/93 16:40 EST
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Publication:PR Newswire
Date:Jan 4, 1993
Words:379
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