UNITED MOBILE HOMES, INC. DECLARES QUARTERLY DIVIDEND
UNITED MOBILE HOMES, INC. DECLARES QUARTERLY DIVIDEND EATONTOWN, N.J., Oct. 15 /PRNewswire/ -- United Mobile Homes, Inc.
(NASDAQ: UMHI), announced that its board of directors has increased the company's quarterly dividend by 50 percent. The new quarterly dividend of $.075 a share is payable Dec. 15, 1992 to shareholders of record Nov. 16, 1992. Eugene W. Landy, president, stated that the new $.30 per share annual dividend rate is based on an anticipated increase in earnings for 1993.
The company is experiencing a favorable trend of rising operating income and declining interest expense. United Mobile Homes, Inc. owns and operates 20 mobile home parks located in New York, New Jersey, Pennsylvania, Ohio and Tennessee. The company intends to acquire additional parks in 1993, which includes making its first entry into the large Florida market. -0- 10/15/92 /CONTACT: Rosemarie Faccone, United Mobile Homes, Inc., 908-389-3890/ (UMHI) CO: United Mobile Homes, Inc. ST: New Jersey IN: SU: DIV
SH-EE -- NY080 -- 0529 10/15/92 14:40 EDT
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|Date:||Oct 15, 1992|
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