Salt Lake Telegram | 1935-09-18 | Page 18 | Dividend Declared by Power Company

I DIVIDEND DECLARED BY POWER COMPANY A dividend of 58 3 3 1 cents a share on the 7 preferred stock and 50 cents a share on the 6 preferred was declared Wednesday day by the board of directors of the Utah Power Pow Pow- er and Light company The dividend payable October 25 1935 1035 to stockholders of record September September September Sep Sep- 30 represents represent a disbursement disbursement disbursement disburse disburse- ment of to stockholders ers ens of whom live lve in n Utah and of whom live lve in the territory territory terri tern tory served by the company compan Commenting upon the action of the b board ard George GeorgeM M M. Gadsby president president president dent and general manager said said the dividend is equal to third one one of the normal quarterly dividend payment and will apply to past due duo and unpaid unpaid unpaid un un- un- un paid accumulated dividends which on August 31 1935 amounted to He asserted the total amount now to be paid is less than the balance o of the te earnings during the first eight months of 1935 available for transfer to surplus account Tho The last dividend amounting to 28 w was a declared by the company company com corn pany party December 24 1934 In declaring the dividend the di directors directors dl- dl rectors expressed sufficient confidence confidence confidence dence in the future to believe beleve the earnings of the company will wi be maintained at least at the present level They pointed out however that the action acton was taken without commitment as to future dividend payments which must be determined determined determined deter deter- mined from time to time as earnings and other conditions affecting the company may warrant