El Paso Electric Announces an Increase in the Quarterly Dividend
May 26 2016 - 7:53PM
Business Wire
The Board of Directors of El Paso Electric Company (NYSE:EE) has
declared a regular quarterly cash dividend on its common stock of
$0.31 per share. The dividend was declared on May 26, 2016, and is
payable on June 30, 2016, to shareholders of record as of the close
of business on June 15, 2016. At the new rate, the indicated
annualized cash dividend would be $1.24 per share for the following
year, up from $1.18 per share paid in the last four quarters.
El Paso Electric is a regional electric utility providing
generation, transmission and distribution service to approximately
400,000 retail and wholesale customers in a 10,000 square mile area
of the Rio Grande valley in west Texas and southern New Mexico. El
Paso Electric has a net dependable generating capability of 2,098
MW.
Safe Harbor
This news release includes statements that are forward-looking
statements made pursuant to the safe harbor provisions of Section
27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended. This information
may involve risks and uncertainties that could cause actual results
to differ materially from such forward-looking statements.
Additional information concerning factors that could cause actual
results to differ materially from those expressed in
forward-looking statements is contained in EE's most recently filed
periodic reports and in other filings made by EE with the U.S.
Securities and Exchange Commission (the "SEC"), and includes, but
is not limited to: (i) increased prices for fuel and purchased
power and the possibility that regulators may not permit EE to pass
through all such increased costs to customers or to recover
previously incurred fuel costs in rates; (ii) full and timely
recovery of capital investments and operating costs through rates
in Texas and New Mexico; (iii) uncertainties and instability in the
general economy and the resulting impact on EE's sales and
profitability; (iv) changes in customers' demand for electricity as
a result of energy efficiency initiatives and emerging competing
services and technologies, including distributed generation; (v)
unanticipated increased costs associated with scheduled and
unscheduled outages of generating plant; (vi) the size of our
construction program and our ability to complete construction on
budget and on time; (vii) potential delays in our construction
schedule due to legal challenges or other reasons; (viii) costs at
Palo Verde; (ix) deregulation and competition in the electric
utility industry; (x) possible increased costs of compliance with
environmental or other laws, regulations and policies; (xi)
possible income tax and interest payments as a result of audit
adjustments proposed by the IRS or state taxing authorities; (xii)
uncertainties and instability in the financial markets and the
resulting impact on EE's ability to access the capital and credit
markets; (xiii) possible physical or cyber attacks, intrusions or
other catastrophic events; and (xiv) other factors of which we are
currently unaware or deem immaterial. EE's filings are available
from the SEC or may be obtained through EE's website,
http://www.epelectric.com. Any such forward-looking statement is
qualified by reference to these risks and factors. EE cautions that
these risks and factors are not exclusive. Management cautions
against putting undue reliance on forward-looking statements or
projecting any future results based on such statements or present
or prior earnings levels. Forward-looking statements speak only as
of the date of this news release, and EE does not undertake to
update any forward-looking statement contained herein.
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version on businesswire.com: http://www.businesswire.com/news/home/20160526006554/en/
El Paso Electric CompanyPublic RelationsEddie Gutierrez,
915-543-5763eduardo.gutierrez@epelectric.comorInvestor
RelationsLisa Budtke,
915-543-5947lisa.budtke@epelectric.comorRichard
Gonzalez,
915-543-2236richard.gonzalez@epelectric.com
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