WILKES-BARRE, Pa., Jan. 22 /PRNewswire/ -- Pennsylvania Enterprises, Inc.
(PEI) (NYSE: PNT) announced today that it declared a $.03 or 5.5% increase in
the regular dividend for the first quarter of 1997 from $.55 to $.58 per
common share. Company officials cited the Company's improving financial
condition and growth, especially in its non-regulated subsidiaries, as reasons
for the increase. PEI's regular quarterly dividend had last been raised in
March 1985.
Also, PG Energy Inc., the natural gas utility subsidiary of PEI, declared
dividends for the first quarter for all series of its preferred stock. All
PEI and PG Energy dividends declared are payable March 15, 1997, to
shareholders of record on March 1, 1997.
PEI is a holding company with regulated and non-regulated subsidiaries.
The regulated group consists of PG Energy which provides natural gas to
approximately 144,000 customers in ten counties in northeastern Pennsylvania.
The non-regulated group consists of Pennsylvania Energy Resources, Inc., its
subsidiary, Keystone Pipeline Services, Inc., Pennsylvania Energy Marketing
Company and Theta Land Corporation.
SOURCE Pennsylvania Enterprises, Inc.
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CONTACT:
Robert J. Lopatto of Pennsylvania
Enterprises, Inc., 717-829-8814
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