OTHER NEWS - Jan. 4, 1994

Companies Reported Strong Dividend Activity in 1993: In another sign of a business revival, U.S. companies increased their dividends last month at the strongest rate in a decade, Standard & Poor’s said. “Dividends obviously are being helped by the pickup in the economy in the past few months, which is lifting corporate profits and cash flow,” said Arnold Kaufman, an S&P; analyst. Kaufman said the credit-rating agency’s survey reflects growing business confidence. He said the continued economic expansion is expected to result in companies announcing even more dividend increases in 1994. For 1993, S&P; said U.S. corporations boosted dividends 1,635 times, an increase of 23% from activity in 1992.