Show UP&L OFFERS COMMON STOCK TO INVESTORS Utah Power and Light Co. announced an offering of 4 million shares of new common com-mon stock. The new issue will be offered of-fered to the public at $16.-75 $16.-75 per share. The closing price of UP&Lcommon stock on the New York Stock Exchange Ex-change Monday was $16-58. The current indicated annual dividend rate on the company's com-pany's common stock is $2 per share. The offerings brought the company approximately $64.6 million and will be applied to payment of short term borrowings incurred to finance the utility's current cur-rent construction program. The last common stock offering was June 1979. |