Giant raises stock dividendHHTCGiant Food Inc., the...

BUSINESS DIGEST

April 28, 1995

Giant raises stock dividend

HHTC

Giant Food Inc., the Landover-based grocer that dominates the Baltimore-Washington market, raised its annual stock dividend yesterday from 72 cents per share to 74 cents.

Giant has raised its dividend annually for many years in a row. A quarterly dividend at the higher rate of 18.5 cents per share will be paid June 2 to shareholders of record May 12.

CSAV now direct to Brazil ports

The CSAV shipping line has begun service between Baltimore and South America's east coast, the Maryland Port Administration said yesterday.

CSAV now provides direct service every two weeks between Baltimore and the ports of Rio de Janeiro, Santos, Imbituba and Rio Grande in Brazil, and Buenos Aires in Argentina.

Bell companies sue FCC

Bell Atlantic Corp., along with a group of telephone industry trade associations and two other regional Bell companies, filed suit against the Federal Communications Commission yesterday, contending that the FCC's requirement that phone companies seek its approval under Section 214 of the Communications Act before they can provide cable television service is a violation of the First Amendment's free-speech provision.

Ironically, the suit comes just two days after Bell Atlantic asked the FCC to suspend action on a pair of Section 214 applications to provide common-carrier "video dial tone" service just as they were apparently on the brink of being approved.

Cable TV shares rise

Shares of cable television companies rose yesterday amid speculation that Bell Atlantic Corp.'s review of plans for entering the $20 billion market signals a reduction in competitive pressure.

The Bell company asked the Federal Communications Commission Wednesday to delay a ruling on two of its requests to offer video services to the home. Some investors interpreted the request as a serious delay in phone companies' attempts to compete in the cable TV industry, analysts said.

Shares of Tele-Communications Inc., the nation's largest cable television company, rose 25 cents, to $19.125. Shares in Comcast Corp. rose $1.125, to 15.25, and shares of Cablevision Systems Corp. gained $1.125, to $57.125.

Storage USA funds up

Storage USA Inc. said its funds from operations for the quarter that ended March 31 rose 31 percent, to $7.3 million, or 55 cents per share, from the pro forma first quarter of 1994.

Funds from operations is considered the best performance indicator for real estate investment trusts. The Columbia-based storage company, which went public March 16, 1994, said its revenues also more than doubled in the last year, to $11.9 million, in the most recent quarter.

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