P.H. GLATFELTER CO &lt;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.
  

