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FOR IMMEDIATE RELEASE: Tuesday, October 1, 1996
HOUSTON -- Enron Corp. today announced an increase in the indicated annual dividend rate of the corporation’s common stock to $.90 per share from the current indicated annual rate of $.85 per share, an increase of 6 percent. The increase will be effective with the fourth quarter dividend of $.2250 per share payable on December 20, 1996 to stockholders of record as of December 2, 1996. Enron last increased its dividend in December 1995 from an indicated annual rate of $.80 to $.85 per share.
"Enron’s Board of Directors remains very confident of the company’s ability to achieve its long-term goals and is very pleased to announce our sixth consecutive annual dividend increase," said Kenneth L. Lay, chairman and CEO of Enron Corp.
The Board also increased the dividend on the Cumulative Second Preferred Convertible Stock to $12.287 per share from the current indicated annual rate of $11.604 per share. Pursuant to a shareholder amendment approved in May 1994, the dividend on the Cumulative Second Preferred Convertible Stock tracks the equivalent dividend on the common stock and a quarterly dividend of $3.07 per share will be payable on January 2, 1997 to preferred stockholders of record as of December 13, 1996.
Enron Corp., one of the world’s largest integrated natural gas and electricity companies with approximately $15 billion in assets, operates the largest natural gas transmission system in the Western Hemisphere and the second largest system in the world; is the largest purchaser and marketer of natural gas and the largest non-regulated marketer of electricity in North America; produces and markets natural gas liquids worldwide; owns 59 percent of Enron Oil & Gas Company, one of the largest independent (non-integrated) exploration and production companies in the United States; owns 59 percent of Enron Global Power & Pipelines L.L.C., which is owner and manager of operating power plants and natural gas pipelines around the world; and is one of the largest independent developers and producers of electricity in the world. Enron Corp. is traded under the ticker symbol, "ENE."
For additional information please contact:
Carol Hensley
(713) 853-6498
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