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Bell Atlantic Increases Quarterly Dividend to $.74
March 25, 1997
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PHILADELPHIA, Pa. - The board of directors of Bell
Atlantic Corp.
(NYSE:BEL) today declared a $.02, or nearly 3%, increase in the
quarterly dividend to $.74 per outstanding common share.
The dividend will be payable on May 1, 1997, to shareowners of record
on April 10, 1997. The company has approximately 858,000 registered
shareowners and approximately 438 million shares of common stock
outstanding.
Bell Atlantic has raised its dividend in each of the 13 years since
the company was formed.
"Dividend growth is a key component of our strategy to provide
attractive returns to our owners," said Bell Atlantic Chairman and
CEO
Ray Smith.
"This quarter's increase reflects record earnings in 1996,
as well as strong prospects for 1997 as we successfully complete our
merger with NYNEX."
As previously announced, when the merger is closed the new Bell
Atlantic's quarterly dividend is expected to rise to $.77, an annual
rate of $3.08, subject to the approval of the board.
Bell Atlantic Corp.
(NYSE: BEL) is at the forefront of the new communications,
entertainment and information industry. In the mid-Atlantic region,
the company is the premier provider of local telecommunications and
advanced services. Globally, it is one of the largest investors in the
high-growth wireless communication marketplace. Bell Atlantic also
owns a substantial interest in Telecom Corporation of New Zealand and
is actively developing high-growth national and international business
opportunities in all phases of the industry.
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