-12-
4. Dividends
Robert Helmly has a conservative approach to paying
dividends. He believes that Home's primary obligations are to
modernize its plant and to reduce its debt. This philosophy is
similar to that of the management of Rock Hill.
From 1987 to 1992, Home paid dividends to holders of its
common stock as follows:
Total amount Dividends
Year of dividends per share
1987 $155,920 $2.00
1988 210,445 2.70
1989 327,931 4.20
1990 1,247,360 116.00
1991 467,760 6.00
1992 1,325,230 217.00
1 This includes $12 for a special nonrecurring dividend
resulting from the sale of Home's interest in Telecom U.S.A.
2 This includes $13 for a special nonrecurring dividend
resulting from concerns about impending tax law changes.
D. Petitioners' Gifts of Home and Rock Hill Stock
The Helmlys made the following gifts of Home stock in 1992:
Percent of
No. of shares Donee stock
Gifts on 1/28/92:
100 Wanda Helmly Davis .128%
100 Lisa Ann Helmly .128
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