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TELEPHONE AND DATA SYSTEMS, INC. ANNOUNCES INCREASE IN FIRST QUARTER 1993 DIVIDEND

 CHICAGO, March 2 /PRNewswire/ -- The board of directors of Telephone and Data Systems, Inc. ("TDS"), has declared a first quarter 1993 dividend of $.085 per share, representing a 6.3 percent increase from the previous $.08 per share rate. This is the thirteenth consecutive year in which TDS has increased its quarterly dividend. Payment will be made on March 31, 1993 to Common and Series A Common shareowners of record on March 17, 1993.
 LeRoy T. Carlson, Jr., president, stated, "This dividend reflects the continued growth in customers, revenues, and cash flow from all three business units. TDS is committed to furthering this growth by providing high-quality services and strategically acquiring value adding synergistic markets."
 TDS Telecommunications Corp. ("TDS Telecom"), TDS's wholly owned telephone subsidiary, continues to grow its customer base. At Dec. 31, 1992, TDS Telecom served 321,700 access lines in 28 states which includes five new telephone companies acquired during 1992. With the completion of two pending acquisitions, TDS Telecom will serve over 338,000 access lines. TDS Telecom's strategy of providing the highest- quality telephone service is an integral part of its growth.
 United States Cellular Corp. ("USM"), TDS's 82.8 percent-owned cellular subsidiary, experienced excellent growth in customers and revenues during 1992. USM has added cellular interests representing 3.0 million population equivalents. Customers in majority-owned markets grew by 53,800 or 55.5 percent and revenues increased $64.6 million or 64.9 percent during 1992.
 American Paging, Inc. ("API"), TDS's wholly owned paging subsidiary, added 85,400 pagers in 1992, increasing the total number of pagers served through 25 systems to over 322,200. Paging revenues increased $10.6 million or 24.5 percent in 1992.
 TDS is a Chicago-based telecommunications company with established local telephone operations and developing cellular telephone and radio paging operations. TDS strives to build value for its shareholders by providing excellent telecommunications services in attractive, closely related segments of the telecommunications industry.
 -0- 3/2/93
 /CONTACT: Murray L. Swanson, executive vice president - finance of Telephone and Data Systems, 312-630-1900. Out-of-town media, please call collect./
 (TDS)


CO: Telephone and Data Systems, Inc. ST: Illinois IN: TLS SU: DIV

SH -- NY079 -- 1997 03/02/93 13:26 EST
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Publication:PR Newswire
Date:Mar 2, 1993
Words:369
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