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TELEPHONE AND DATA SYSTEMS, INC. ANNOUNCES SECOND QUARTER 1993 DIVIDEND

 CHICAGO, June 8 /PRNewswire/ -- The board of directors of Telephone and Data systems, Inc. (AMEX: TDS) (TDS), has declared a second quarter 1993 dividend of $.085 per share, representing a 6.3 percent increase from the second quarter 1992 dividend. Payment will be made on June 30, 1993, to Common and Series A Common shareowners of record on June 18, 1993.
 LeRoy T. Carlson Jr., president and CEO, stated, "The company is attaining excellent growth in customers and operating revenue. In addition, we are continuing our aggressive acquisition program seeking to add strategic markets which fit well into our existing operations."
 TDS Telecommunications Corp. (TDS Telecom), TDS's wholly owned telephone subsidiary, continues its steady growth by increasing its revenue and customer base. Operating revenues rose 6.7 percent to $62.0 million and access lines increased 19,400 to 341,100 for the three months ended March 31, 1993, compared to the year-earlier period. In the process, TDS Telecom expanded into the state of Arizona, its 29th state of operation.
 United States Cellular Corp. (AMEX: USM), TDS's 83.3 percent-owned cellular subsidiary, continues to grow through the acquisition of cellular markets. In the first quarter of 1993, USM acquired 10 markets, increasing its customer base to 202,300 in total managed systems. Operating revenues rose to $47.8 million, a 55.3 percent increase over the first quarter of 1992. At March 31, 1993, USM owned or had the right to acquire 196 cellular telephone systems, representing 21.8 million population equivalents.
 American Paging, Inc. (API), TDS's wholly owned paging subsidiary, experienced strong unit growth and operating results. Operating revenues rose to $17.0 million for the first quarter of 1993, up 42.4 percent from the same period one year ago. As of March 31, 1993, API served 350,900 pagers through 21 operations centers.
 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- 6/8/93
 /CONTACT: Murray L. Swanson, executive vice president - finance of TDS, 312-630-1900. Out-of-town media, please call collect./
 (TDS)


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

SH -- NY042 -- 6525 06/08/93 11:40 EDT
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Publication:PR Newswire
Date:Jun 8, 1993
Words:389
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