P.H. GLATFELTER CO <GLP> INCREASES DIVIDEND
P.H. Glatfelter said its
board increased its quarterly dividend on its common stock to
14 cts per share, from 12.5 cts per share the prior quarter.
    It said the dividend is payable May 1, 1987, to
shareholders of record April 15, 1987.
    In addition, the company said it authorized the repurchase
of up to an additional one mln shares of its common stock.
    On March 27, 1985, the board had authorized the repurchase
of up to two mln shares, as adjusted for a two-for-one split,
effected in April 1986, the company said.
    The company said 521,508 shares may still be repurchased
under the 1985 authorization. It added any shares repurchased
would be added to the treasury and will be available for future
issuance.
    The company said it has no present plans to issue any of
the shares which may be repurchased. The company said it
presently has 24,614,352 common shares outstanding.
 Reuter
