SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
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Current Report
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 24, 1997
ATLANTIC RICHFIELD COMPANY
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(Exact name of registrant as specified in its charter)
Delaware
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(State or other jurisdiction of incorporation)
1-1196 23-0371610
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(Commission File Number) (IRS Employer
Identification No.)
515 South Flower Street, Los Angeles, California 90071
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (213) 486-3511
Not Applicable
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(Former name or former address, if changed since last report)
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Item 5. Other Events.
Press Release, dated March 24, 1997, concerning
ARCO's stock split and increase in quarterly cash
dividend.
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SIGNATURE
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this
report to be signed on its behalf by the undersigned
hereunto duly authorized.
ATLANTIC RICHFIELD COMPANY
/s/ ALLAN L. COMSTOCK
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Allan L. Comstock
Vice President and Controller
Dated: March 24, 1997
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ARCO [LOGO] Media Relations
515 South Flower Street
Los Angeles CA 90071-2201
Telephone 213 486 3385
Facsimile 213 486 0169
FOR IMMEDIATE RELEASE March 24, 1997
ARCO ANNOUNCES 2-FOR-1 STOCK SPLIT,
4% INCREASE IN QUARTERLY CASH DIVIDEND
LOS ANGELES -- ARCO's Board of Directors today approved a 2-for-1
stock split by means of a 100% stock dividend and a 4% increase in the
company's quarterly cash dividend.
The decision will give ARCO stockholders one additional share for
every share they currently hold and increase ARCO's quarterly dividend paid
on common shares to $1.425 per share (pre-split basis) or $0.7125 per share
(post-split), up from the current pre-split level of $1.375 per share,
effective June 13.
ARCO Chairman and Chief Executive Officer Mike R. Bowlin said, "The
Board's action today demonstrates our optimism toward ARCO's future, in both
the short- and long-term. We have seen healthy earnings growth since 1993.
We see an improved oil and gas production profile based on recent progress
in reserves replacement and implementation of major projects.
"The outlook for ARCO and our interest in making ARCO a more
attractive investment for all our stockholders were the primary factors in
the Board's decision, as was our desire to have a competitive dividend
policy," Bowlin said.
The stock dividend and increase in the cash dividend will take
effect with ARCO's second quarter dividend which is payable June 13, 1997
to stockholders of record on May 16, 1997. The additional shares will be
distributed by June 13, 1997.
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As of December 31, 1996, ARCO had 161,086,174 common shares
outstanding. The company's last stock split was effective June 30, 1980.
ARCO increased its dividend to $5.50 per share ($1.375 quarterly) on
January 28, 1991.
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For added information, contact: (media) Albert Greenstein, 213-486-3384
(investors) Steve Enger, 213-486-1811.
For a menu of ARCO news releases, visit ARCO at http://www.arco.com.
