	middle south msu to form new dividend policy middle south utilities inc is taking a conversative approach to formulating a new common stock dividend policy chairman edwin lupberger said he told securities analysts that when the company s common dividend is resumed the initial rate will appear conservative to you by industry standards and in relation msu s net income and cash flow our progress will determine how soon we can reinstate a dividend to our common stockholders he said the company last paid a common dividend of cts a share in july lupberger told the analysts that the company s primary objective is to create financial strength enough strength so that what happened to us and our stockholders over the past couple of years never happens again the company has faced regulatory challenges to rates proposed to cover the cost of its grand gulf nuclear plant he said middle south s net income is expected to post modest growth over the next three years in the company ed mln dlrs or dlrs a share on revenues of billion dlrs lupberger said a good portion of the improvement projected for the next three years comes from keeping the lid on operating and maintenance expenses reuter 
