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Article: Union Texas Petroleum reports $56 million in net income for 1987; announces common stock dividend policy and stock buyback program.
- Article from:
- PR Newswire
- Article date:
- February 1, 1988
CopyrightCOPYRIGHT 1988 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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UNION TEXAS PETROLEUM REPORTS $56 MILLION IN NET INCOME FOR 1987;
ANNOUNCES COMMON STOCK DIVIDEND POLICY AND STOCK BUYBACK PROGRAM
HOUSTON, Feb. 1 /PRNewswire) --Union Texas Petroleum Holdings, Inc. today reported $56 million in net income or five cents per share on $1.257 billion in revenues for the year ended Dec. 31, 1987, compared to a net loss of $57 million or $1.53 per share on $1.256 billion in revenues for 1986.
The company also announced that its board of directors has approved a policy, based on current financial and economic conditions, to pay a quarterly dividend of five cents per share to holders of Union Texas' common stock, ...