BUSINESS MEMO: UNION ELECTRIC DIVIDEND

The Union Electric Company's Board of Directors has declared a 63.5-cent quarterly dividend on its common stock, payable Sept. 30 to stockholders of record Sept. 9.

The board also declared regular quarterly dividends on all classes of preferred stock, payable Nov. 15 to stockholders of record Oct. 20.

St. Louis-based UE, one of the nation's largest electric utilities, had operating revenues of more than $2 billion 1996. UE serves 1.3 million customers in Missouri and Illinois and has paid dividends since 1906.