Pacific Telesis Group declared a 2-for-1 stock split.
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The stock split is payable March 25 to shareholders of record March 9. Besides splitting its common, the parent of Pacific Bell said it increased its dividend by 8%, or 6 cents a share, to 82 cents on a pre-split basis. The post-split dividend of 41 cents will be paid on May 1 to shareholders of record as of April 6. Chairman Donald Guinn said: “Our results reflect a history of strong, consistent earnings growth as an independent corporation.”
