ATLANTA-BellSouth Corp. announced plans to repurchase up to $3 billion worth of its common shares in 1999.
The company’s board of directors also increased its quarterly dividend by 2 cents to 38 cents per split common share. In addition, the board approved a two-for-one stock split, the second in three years.
The dividend is payable Feb. 1 to shareholders of record on Jan. 7. The additional shares will be issued Dec. 24 to shareholders of record on Dec. 3. BellSouth said this quarter’s dividend is the 60th consecutive dividend declared by BellSouth since its formation in 1984.
