Advertisement
YOU ARE HERE: LAT HomeCollectionsGte Corp

BRIEFLY

GTE will raise its dividend and buy back stock.

November 07, 1986

Stamford, Conn.-based GTE Corp., apparently responding to speculation that an investor might be amassing a major stake in the company, said it will raise its dividend 13% to 81.5 cents per share from 80 cents and repurchase up to 10 million, or 4.7%, of its common shares. The dividend will be payable Jan. 1 to shareholders of record Nov. 24. GTE said its directors will also seek shareholder approval for a 3-for-2 stock split, for authorization to nearly triple the number of GTE common shares available to be issued to 750 million and to adopt certain takeover defenses.

Advertisement
Los Angeles Times Articles
|
|
|