Times Staff and Wire Reports

2 ITT Units Plan Dividend: The entertainment and hotel company to be formed from the breakup of ITT Corp. has no plans to pay a cash dividend, but the other two parts do, documents show. All told, investors who hold stock in each of the three components when the New York-based firm completes its separation can expect annual dividends totaling $2.20 a share. That compares to ITT's current rate of $1.98 a share. Documents filed with the Securities and Exchange Commission indicate ITT Industries, with interests in auto parts, defense and electronics, plans an annual dividend of 60 cents a share, while insurer ITT Hartford plans to pay $1.60.

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