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Klamath First declares quarterly cash dividend

KLAMATH FALLS -- Klamath First Bancorp Inc. (Nasdaq/NMS:KFBI) declared a quarterly cash dividend on Thursday of 12 cents per share of common stock. The dividend is payable July 19 to shareholders of record at the close of business July 2.

Klamath First CEO Gerald V. Brown said it was the 15th consecutive quarterly cash dividend since Klamath First became a public company in October 1995.

Klamath First Bancorp Inc. is the holding company for Klamath First Federal Savings and Loan Association, which operates 35 offices in 22 Oregon counties. The association was founded in 1934, and became a wholly owned subsidiary of KFBI on Oct. 4, 1995, when the company went public.

Avista expects lower earnings in first quarter

Avista Corp. expects lower second-quarter earnings because of soft national energy markets and losses within energy marketing and trading business.

Avista, formerly W.P. Natural Gas, is the utility providing natural gas service to Southern Oregon.

Preliminary estimates indicated second-quarter earnings per share will fall below securities analysts' current consensus estimates of 33 cents per share.

T.M. Matthews, chief executive officer, said he expects positive results from Avista Energy in June and for the remainder of 1999, based on full integration of Vitol Gas & Electric, its strong management team, and key staff additions that strengthened the Avista Energy team.

Despite this expected turnaround, Matthews said overall Avista Energy results for the year could be a negative 10 cents per share because of the February-May losses.