SCANA Corporation Announces 3.5 Percent Increase In Common Dividend
SCANA Corporation (NYSE: SCG) announced that its board of directors, at a meeting held, raised the quarterly cash dividend on the Company's common stock to 52 ½ cents per share from 50 ¾ cents per share, an increase of 3.5 percent. This action increases the indicated annual dividend rate to $2.10 per share from $2.03 per share. The new dividend is payable April 1, 2014 to shareholders of record at the close of business on March 10, 2014.
"We are pleased to announce an increase in the quarterly dividend. The positive results of 2013 and the confidence we have in the long-term strategy were key considerations. We are now back within our stated payout policy of 55%-60% and expect to grow dividends fairly consistent with earnings growth prospectively," said Jimmy Addison, Executive Vice President and Chief Financial Officer.
SCANA Corporation, headquartered in Cayce, SC, is an energy-based holding company principally engaged, through subsidiaries, in electric and natural gas utility operations and other energy-related businesses.