COMPANY TOWN ANNEX
From Times Staff and Wire Reports
Cap Cities Says It Will Offer 10-for-1 Stock Split: Capital Cities/ABC Inc., one of the most expensive stocks traded on the New York Stock Exchange, also declared a regular cash dividend of 5 cents a share, payable May 18 to shareholders of record on March 31. Cap Cities/ABC stock closed at $708.85, up $11.75 from the previous day’s trading. The company owns ABC Television Network and several television and radio stations, newspapers and shopping guides. The company said it will seek shareholder approval for the stock split at its annual meeting May 19.
