Vol. XXVlll, No. 1 March/April, lt)77 We have two new non-stop routes April, 1977 was an exceptionally good month for route awards. The Civil Aeronautics Board granted Piedmont the authority to provide non stop service in two diff erent markets. The first one came early in the month when the Board finalized its show-cause order up grading Piedmont’s authority between Tri- Cities (Bristol Johnson City Kingsport), Ten nessee and New York from one-stop to non stop. Piedmont will inaugurate this service with the June 14, 1977 schedule change. The second long-awaited decision, on Rich mond — New York, was issued by the CAB in mid-April. Piedmont was a w a r d e d the Stockholders elect Haverty authority to provide non-stop service between Richmond and New York Newark, effective June 7, 1977. Piedmont initially requested this authority in 1972 after reaching agreement with National Airlines to ti-ansfer that company’s unused authority in the market. In announcing this award the CAB .said giving Piedmont the authority would assure true competition between the points. Eastern has been the only cai'rier pi-oviding Richmond- New York service. Piedmont will also inaugurate its Richmond- New York non-stop Hights on June 14. The Directors declare dividend At their recent regular quarterly meeting. Piedmont’s directors declai’ed a cash dividend of 10 cents per share on the Company’s common stock. k Payable June 3, 1977 to stockholders of M'ecord on May 17, 1977, this is the 14th cash dividend to be paid by the Company. Piedmont’s first cash dividend was paid in 1964. The direc tors consider payments of dividends on a semi annual basis. Preceding the directors m e e t- ing, the stock holders of Pied mont Aviation, Inc. held t h e i i’ annual meeting at the Company’s general off'ice in Winston-Salem. The stockhold Rawson Haverty ers elected a new director to the Company’s Board. He is Rawson Haverty, president of Haverty Furniture Companies, Inc. Havei’ty Furniture is headquartered in Atlanta and has stores in ten southern states from Texas to North Carolina and Virginia. A graduate of the University of Georgia, Haverty is also on the board of directors of the P'ulton National Bank of Atlanta, Colonial Stores, Inc., Southwestern Life Corp. and the American Credit Corp. He lives in Atlanta. The stockholders also re-elected the previous directors of the Company’s Board. President T. H. Davis told the stockholders, “Last year, 1976, was the second best in our history. Only 1974 was better. Our earnings in 1976 amounted to $1.76 per share, representing a 10.11 per cent return on total investment. The major contribution to the vastly improved earnings was the income from increased pas senger volume. We are also pleased that 1977 seems to be shaping up as another good year for Piedmont. So far, our traffic is up about six per cent over the first quarter of 1976.” Company will offer three round-ti’ip Hights a day between the cities. Flight 40 is a morning departure from Richmond to LaGuardia. Flight 44 offers mid-day service also via [^a(niar(lia, while Flight 48 is an evening trip to Newark. For return service, Flight 91 dejiarts Newark in the morning. Flight 65 leaves LaGuai'dia in mid-afternoon and Flight 59 departs Newai'k in the evening, h'lights 48 and 65 will also provide non-stop service between Richmond and Tri- Cities. For several years, Piedmont has been liich- mond’s largest aii'line in terms of number of ffight departures. Of all scheduled Hights from Byi'd Field, 62 pei- cent ai-e Piedmont Hights. Wigmore named vice president Robert F. Wigmore has been named to the newly created position of staff' vice pi'esident — I’evenue and route planning. He was most I’ecently head of a consulting fii-m in Washing ton, I). C. Prior to that, he was an assistant vice president for Allegheny where his responsi bilities included I'oute development, j)lanning and market i-esearch. Wigmore also woi'ked foi' Trans World, Bonanza and Eastern aii'lines. A gi'aduate of New York Uni versity, Wigmore is mai’i'ied and has thi’ee sons. He assumed his new duties with Piedmont on Maj' 2, 1977, repo)-ting to Executive Vice President W. M. Magruder. Roberl Wigmore

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