Wednesday, January 16, 2002

Tristate Summary

Hillenbrand dividend rises

        Batesville, Ind.-based Hillenbrand Industries Inc. Tuesday said it was raising its quarterly dividend 9.5 percent to 23 cents a share from 21 cents. The dividend is payable Feb. 22 to shareholders of record on Feb. 8.

        Hillenbrand directors also declared a one-time dividend of 7 2/3 cents a share, payable March 29 to shareholders of record March 1. The one-time, one-month dividend was declared to align the company's dividend payments with previously announced plans to switch the end of its fiscal year from the end of November to the end of September.

        The hospital bed and funeral products manufacturer said the higher dividend reflected the board's confidence in the company's to generate higher cash flows. Hillenbrand's shares closed up $1.31 on Tuesday at $55.29 a share.

Interlott wins major contract

        Interlott Technologies Inc., the Mason-based supplier of lottery dispensing machines, has won a major contract from the California Lottery to buy 500 of Interlott's new 16-bin expandable dispensing system machines.

        Financial terms weren't disclosed, but Interlott said new machines should be placed retail outlet throughout California by the end of March.

        California has installed about 4,000 four, six and eight-bin instant ticket machines since 1992.

Smart Papers gets $2.2M loan

        Smart Papers LLC, the new company which is operating Hamilton's former Champion paper mill on North B Street, has received a $2.2 million low-interest state loan.

        The money, which carries a three interest rate over seven years, will be used to install equipment to improve the company's paper-making operations. The total $6 million investment is expected to create 30 jobs, the state Department of Development said.

— From staff reports


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