GPU &lt;GPU> DECLARES FIRST DIVIDEND SINCE 1979

  General Public Utilities Corp
  said its board declared a dividend of 15 cts per share on
  common stock, its first dividend since it omitted payment in
  February 1980 as a result of the Three Mile Island nuclear
  accident in 1979.
      The company said it was able to declare the dividend due to
  progress in the cleanup of Three Mile Island Unit Two.
      A company spokesman said GPU expects to continue declaring
  dividends on a quarterly basis, with the rate depending on the
  progress of the cleanup and on other company operations.
      GPU said the dividend is of "modest size," representing
  less than a third of the amount paid as a dividend by the
  average electric utility.
      "As the operating companies need to return to the capital
  markets for debt and preferred stock, this should tend to
  produce lower cost and better terms," the company said.
      The dividend is payable May 29 to holders of record April
  24.
  

