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Warner Spurns Proposal to Increase Dividend

January 07, 1988|From a Times Staff Writer

NEW YORK — Chris-Craft Industries Chairman Herbert Siegel reported that the board of Warner Communications again rejected his proposal to increase Warner's regular quarterly dividend to 12.5 cents from 10 cents.

In a filing with the Securities and Exchange Commission, Siegel said he may propose an even greater increase at the February board meeting, with the amount to be decided after 1987 earnings figures are available.

Chris-Craft controls 17% of Warner's voting stock and has four representatives on its 14-member board.

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