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BRIEFLY

December 17, 1987

Times Mirror declared a 100% stock dividend and raised its cash dividend on common shares by 12%. The Los Angeles-based media company, following shareholder approval of the plan earlier this month, said it will issue one share of a new Class C common stock for each share of existing common on Dec. 28. The new Class C shares, which are subject to transfer restrictions, will be entitled to 10 votes per share, while the existing common, now redesignated Class A and freely transferable, is entitled to one vote per share. Directors also voted to raise the quarterly cash dividend payable on each Series A and Series C share to 23 cents, representing a 12% increase from the 41 cents previously paid on common stock. The dividend is payable March 10 to shareholders of record Feb. 26.

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