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TELEPHONE AND DATA SYSTEMS ANNOUNCES INCREASE IN SECOND QUARTER 1992 DIVIDEND

 TELEPHONE AND DATA SYSTEMS ANNOUNCES
 INCREASE IN SECOND QUARTER 1992 DIVIDEND
 CHICAGO, June 2 /PRNewswire/ -- The board of directors of Telephone and Data Systems, Inc. (AMEX: TDS) has declared a second quarter dividend of $.08 per share, representing a 6.7 percent increase from the second quarter 1991 dividend. Payment will be made on June 26, 1992, to common and Series A common shareowners of record on June 12, 1992.
 Leroy T. Carlson Jr., president, stated, "The company continues to develop nicely as reflected by its strong revenue and cash flow growth. TDS has paid an increasing cash dividend since 1975."
 TDS Telecommunications Corp (TDS Telecom), TDS' wholly owned telephone subsidiary continues to grow its customer base. At March 31, 1992, TDS Telecom served 308,200 access lines in 28 states. Telephone revenues for the first quarter rose $8.6 million or 17.4 percent to $58.1 million. TDS Telecom's goal of providing the highest-quality telephone service is an integral part of its business strategy.
 United States Cellular Corp. (AMEX: USM), TDS' 81.6-percent owned cellular subsidiary, owns or has the right to acquire interests in cellular systems in 72 metropolitan statistical areas (MSAs) and 102 rural service areas (RSAs) at March 31, 1992. During the first quarter of 1992, USM initiated service in six new majority owned RSAs and increased its customer base to 108,600 subscribers in consolidated markets.
 American Paging, Inc. (API) served 248,100 paging customers through 25 systems at March 31, 1992, an increase of 14.2 percent in pagers served over March 31, 1991. Operating cash flows increased 188 percent to $937,000 from $325,000 in the first quarter of 1991.
 TDS is a Chicago-based telecommunications company with established local telephone and developing cellular telephone and radio paging operations. TDS strives to build value for its shareholders by providing excellent communications services in attractive, closely related segments of the telecommunications industry.
 -0- 6/2/92
 /CONTACT: Murray L. Swanson, TDS executive VP-finance, 312-630-1900 (out of town media please call collect)/
 (TDS) CO: Telephone and Data Systems, Inc. ST: Illinois IN: TLS SU: DIV


KD -- NY045 -- 6263 06/02/92 13:55 EDT
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Publication:PR Newswire
Date:Jun 2, 1992
Words:360
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