12.09.1997Enterprise Tech

WorldCom declares first quarter cash dividend on its depositary shares

JACKSON, MS, (Dec. 9, 1997) WorldCom, Inc.(Nasdaq/NM:WCOM) today announced that it has set February 23, 1998, as the record date for the quarterly cash dividend payment of $0.67 on WorldCom Inc.'s Depositary Shares, each representing a one one-hundredth interest in a share of Worldom, Inc. Series 8% Cumulative Convertible Preferred Stock. The dividend is payable in cash on March 2, 1998. 

WorldCom is a global telecommunications company. Operating in more than 50 countries, the company is a premier provider of facilities-based and fully integrated local, long distance, international and Internet services. WorldCom's subsidiary, UUNET Technologies, Inc., is an international provider of Internet services with over 1,000 Points of Presence (POPs) throughout the United States and in Canada, Europe and the Asia-Pacific region.

The common and depositary shares of WorldCom trade on the Nasdaq National Market (U.S.) under the symbol WCOM and WCOMP, respectively. On November 10, 1997, WorldCom and MCI Communications announced a definitive merger agreement. Following certain regulatory approvals, the company expects the merger to be closed in six to nine months from that date.