THE VIRGINIAN-PILOT
Copyright (c) 1995, Landmark Communications, Inc.
DATE: Thursday, December 7, 1995 TAG: 9512070475
SECTION: BUSINESS PAGE: D1 EDITION: FINAL
TYPE: Daily Digest
LENGTH: Short : 22 lines
The board of Tenneco Inc., the parent of Newport News Shipbuilding, has boosted the stock dividend to 45 cents a share from 40 cents, the Houston-based company said Wednesday. The board also voted to repurchase up to 2.5 million shares of Tenneco stock in 1996. Both moves are intended to help boost the company's stock price. Tenneco slashed its dividend to 40 cents from 50 cents in 1991. The new dividend will be payable March 12 to stockholders as of Feb. 23. Tenneco stock rose 3/8 to $48 1/2 a share in Wednesday trading on the New York Stock Exchange. (Staff) by CNB