Progress Energy Board Increases Dividend for 21st Straight Year
10 Dezembro 2008 - 4:48PM
PR Newswire (US)
RALEIGH, N.C., Dec. 10 /PRNewswire-FirstCall/ -- Progress Energy's
(NYSE: PGN) board of directors today increased the dividend on the
company's common stock for the 21st straight year. The quarterly
dividend, raised to 62 cents per share from 61.5 cents per share,
is payable on Feb. 2, 2009, to shareholders of record as of Jan.
12, 2009. This represents an expected total annual dividend for
2009 of $2.48 per share, an increase of $0.02 over the 2008
dividend. (Logo:
http://www.newscom.com/cgi-bin/prnh/20020923/CHM008LOGO-c ) "We are
pleased with the board's action to increase the dividend to our
shareholders," said Bill Johnson, chairman, president and CEO of
Progress Energy. "Despite the challenging economy, Progress Energy
has a strong long-term future. This dividend growth will continue
to increase the current cash return for our shareholders while
supporting our future growth by improving our ability to attract
capital. In addition, we remain focused on reducing our dividend
payout ratio toward a long-term target range of 70-75 percent of
ongoing earnings." Progress Energy, headquartered in Raleigh, N.C.,
is a Fortune 250 energy company with more than 21,000 megawatts of
generation capacity and $9 billion in annual revenues. The company
is observing its 100th anniversary in 2008. Progress Energy
includes two major utilities that serve 3.1 million customers in
the Carolinas and Florida. The company is the 2006 recipient of the
Edison Electric Institute's Edison Award, the industry's highest
honor, in recognition of its operational excellence. The company
also is the first utility to receive the prestigious J.D. Power and
Associates Founder's Award for customer service. Progress Energy
serves two growing areas of the country, and the company is
pursuing a balanced strategy for a secure energy future. That
balance includes aggressive energy efficiency programs, investments
in renewable energy technologies and a state-of-the-art electricity
system. For more information about Progress Energy, visit the
company's Web site at http://www.progress-energy.com/ . This
release contains forward-looking statements within the meaning of
the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. The forward-looking statements involve
estimates, projections, goals, forecasts, assumptions, risk and
uncertainties that could cause actual results or outcomes to differ
materially from those expressed in the forward-looking statements.
Any forward-looking statement is based on information current as of
the date of this report and speaks only as of the date on which
such statement is made, and we undertake no obligation to update
any forward-looking statement or statements to reflect events or
circumstances after the date on which such statement is made.
http://www.newscom.com/cgi-bin/prnh/20020923/CHM008LOGO-c
http://photoarchive.ap.org/ DATASOURCE: Progress Energy CONTACT:
Corporate Communications, +1-919-546-6189 or toll-free,
+1-877-641-NEWS (6397) Web site: http://www.progress-energy.com/
Copyright