Pargas Inc. has reported record sales and profits for 1977. The Walforf distributor of propane and owner of coal mines also boosted its quarterly divident rate.

Despite a "significant decline" in propane volume and fourth-quarter profits because of unusually warm weather in the company's marketing areas, annual sales jumped 17 percent to $149 million, according to Chairman William C. Hill.

Pargas earned a record $7.15 million, up 4 percent from $6.89 million in 1976.Fourth-quarter earnings dipped to $2.27 million from $4.04 million on a flat sales volume of $43.6 million.

A quarterly dividend of 26 1/2 cents a share, increased from the previous March 1 to stockholders of record Feb. 17. Pargas has increased its dividend rate on common shares every year since its securities first were sold to the public in 1961.

Acacia Mutual Life Insurance Co. of Washington reported its biggest sales gain in its history last year, along with record premium income, investment earnings and policyowner dividends.

Acacia's sales increased 18 percent from $422 million to $499 million and insurance in force increased by $220 million to $3.9 billion.

Premium income of $71.3 million, was up $3.1 million investment income increased $2.4 million to $42.8 million and total income was up $4.5 million to $124.3 million.

The mutual insurance company's policyholders received $17.4 million in dividends, an $800,000 increase. Acacia's total assets. $719 millon, were up $30.8 million.

Manor Care Inc., of Silver Spring, reported income for the first half of the year declined from $1,352,000 (80 cents per share) to $492,000 (29 cents) while revenues rose 18 percent, from $14.9 million to $17.6 million.

Earnings for the period ended Nov. 30 were depressed by start-up losses of $548,000 on six new facilities, the company said, while year-ago figures included $1,270,000 from the sale of assets.

Manor Care now runs 25 nursing centers with 3,761 beds in nine states and is completing construction of its first hospital, in Mesquite, Tex. The 120-bed facility will open June 1, the company said.

The company is phasing out its respiratory therapy subsidiary, ParaMed Associates, and has sold most of its assets.

For the third quarter, Manor Care revenues were up from $7.5 million to $9.1 million but net income declined from clined from $362,000 (21 cents) to $362,000 (21 cents) to $334,000 (20 cents).