O'Sulliven Corp. of Winchester, Va., declared a quarterly dividend of 15 cents per share, payable April 15 to stockholders of record March 15. . . . Equitable Bancorp. declared a dividend of $1.968 per share on the company's adjustable rate cumulative preferred stock, Series A, payable March 31 to stockholders of record March 16.
The state of Maryland's Community Development Administration (CDA) has sold $20.9 million in revenue bonds to provide construction funds and permanent financing for 548 units of multifamily housing. The bond sale will finance two market-rate and two Section 8 housing developments.
The market-rate developments financed through the sale are the Apartments at the Greens (204 units) in Carroll County and Westfield Apartments (156 units) in Baltimore County.
The two developments to receive the federal Section 8 subsidies are Renaissance Place (68 units) and Harvey Johnson Towers (120 units) in Baltimore County.
Developers of these projects are required to skew rents for 20 percent of the tenants in order to serve federal Section 8 income levels. An additional 31 percent of the units will be made available to families determined eligible by the Community Development Administration.
MCI Communications Corp. has purchased 90,000 miles of single-mode optical fiber and cable from Siecor Corp. of Hickory, N.C. MCI will use the fiber for a long-distance telecommunications network being constructed along a railroad right-of-way obtained from CSX Corp. and Amtrak.
Ris Paper Co. will relocate its Washington headquarters and paper products distribution operation to the Hampton Business Park in Largo. With a capital investment of about $2 million, Ris will construct a 60,000-square-foot facility on four acres.
Effects Technology Inc, a wholly owned subsidiary of Flow General Inc., has been merged into General Research Corp., another wholly owned subsidiary of the company.
Capital Systems Group Inc. of Rockville has received a three-year contract to provide support services to the National Cancer Institute's diet, nutrition and cancer program.
Sport Chevrolet in Silver Spring is building a truck sales and service center across from its dealership at Briggs Chaney Road and Automobile Boulevard. The new T-shaped building will contain 10,679 square feet of space. Robert Fogarty, Sport vice president and general manager, said the expansion will create eight to 12 new jobs and will increase Sport's service potental by 50 percent.
The National Park Service has begun redevelopment of East Potomac Park after recommendations by local planning commissions and during public hearings that the park have more space for recreational use.
The first phase of work includes reducing the 36-hole golf course to 27 holes as part of a plan to open about 45 acres for family recreation and landscaping. Also included in the initial work is construction of additional parking spaces and roadway work.
PRC Engineering, an operating arm of Planning Research Corp., has received a $2.6 million contract from the Government of Indonesia to prepare the master development plan for Batam Centre, an industrial community on Batam Island, located 12 miles from Singapore.
AAI Corp. in Baltimore, a subsidiary of United Industrial Corp., has received an Air Force contract to make additional improved radar simulators. The contract calls for 210 units, in addition to the original order for 236 units placed by the Air Force's air logistics center.
Computer Data Systems Inc. in Bethesda has received a contract to provide automatic data processing services to the Department of Labor's Employment Standard Administration. The one-year contract, which has two one-year options for renewal, is estimated to have a potential value of about $4 million.
Sperry Corp. has received a $22.5 million contract from the Commonwealth of Australia to produce two F/A-18 operational flight trainers, along with supporting equipment, supplies and services.