OKLAHOMA CITY, May 19, 2016 /PRNewswire/ -- The OGE Energy
Corp. (NYSE: OGE) board of directors declared a quarterly dividend
at the company's annual meeting today. The third quarter dividend
of $0.275 per common share of stock
is to be paid July 29, 2016, to
shareholders of record on July 8,
2016. The dividend was unchanged from the previous quarter.
Last September, the company increased the dividend from
$1.00 per share to $1.10 per share, marking the third consecutive
year the dividend was increased 10 percent. OGE has paid dividends
to shareholders for 69 consecutive years.
In voting announced at the annual meeting, OGE Energy
shareholders:
- Elected 10 members of the company's board of directors to
one-year terms:
- Frank A. Bozich,
president and chief executive officer at the SI Group, Inc. He has
been a director of OGE Energy since February
2016.
- James H. Brandi, former
managing director of BNP Paribas Securities Corp., was re-elected.
He has been a director of OGE Energy since February 2010.
- Luke R. Corbett, former
chairman and chief executive officer of Kerr-McGee, was re-elected.
He has been a director of OGE Energy since December 1996.
- John D. Groendyke,
chairman of the board and chief executive officer of Groendyke
Transport Inc., was re-elected. He has been a director of OGE
Energy since January 2003.
- David L. Hauser, former
chairman and chief executive officer of FairPoint Communications
Inc. He has been a director of OGE Energy since July 2015.
- Kirk Humphreys, chairman
and manager of The Humphreys Company LLC, was re-elected. He has
been a director of OGE Energy since November
2007.
- Robert O. Lorenz, retired
partner of the Arthur Andersen accounting firm, was re-elected. He
has been a director of OGE Energy since July
2005.
- Judy R. McReynolds,
chairman, president and chief executive officer of ArcBest
Corporation, was re-elected. She has been a director of OGE Energy
since July 2011.
- Sheila G. Talton,
president and chief executive officer of Gray Matter Analytics, was
re-elected. She has been a director of OGE Energy since
September 2013;
- Sean Trauschke, current
chairman, president and chief executive officer of OGE Energy Corp.
and OG&E, was re-elected. He has been a director of OGE Energy
since May 2015.
- Ratified the appointment of Ernst & Young LLP as the
company's principal independent accountants for 2016;
- Approved, on an advisory basis, the compensation paid to named
executive officers;
- Did not approve by the required 80 percent vote an amendment to
the restated certificate of incorporation to eliminate
supermajority voting provisions; and
- Rejected by a large margin a shareholder proposal regarding
distributed generation.
OGE Energy is the parent company of OG&E, a regulated
electric utility serving approximately 828,000 customers in
Oklahoma and western Arkansas. In addition, OGE holds a 26.3
percent limited partner interest and a 50 percent general partner
interest in Enable Midstream Partners, LP.
Some of the matters discussed in this news release may contain
forward-looking statements that are subject to certain risks,
uncertainties and assumptions. Such forward-looking
statements are intended to be identified in this document by the
words "anticipate", "believe", "estimate", "expect", "intend",
"objective", "plan", "possible", "potential", "project" and similar
expressions. Actual results may vary materially. Factors
that could cause actual results to differ materially include, but
are not limited to: general economic conditions, including the
availability of credit, access to existing lines of credit, access
to the commercial paper markets, actions of rating agencies and
their impact on capital expenditures; the ability of the Company
and its subsidiaries to access the capital markets and obtain
financing on favorable terms as well as inflation rates and
monetary fluctuations; prices and availability of electricity,
coal, natural gas and natural gas liquids; the timing and extent of
changes in commodity prices, particularly natural gas and natural
gas liquids, the competitive effects of the available pipeline
capacity in the regions Enable Midstream Partners serves, and the
effects of geographic and seasonal commodity price differentials,
including the effects of these circumstances on re-contracting
available capacity on Enable Midstream Partners' interstate
pipelines; the timing and extent of changes in the supply of
natural gas, particularly supplies available for gathering by
Enable Midstream Partners' gathering and processing business and
transporting by Enable Midstream Partners' interstate pipelines,
including the impact of natural gas and natural gas liquids prices
on the level of drilling and production activities in the regions
Enable Midstream Partners serves; business conditions in the energy
and natural gas midstream industries including the demand for
natural gas, natural gas liquids, crude oil and midstream services;
competitive factors including the extent and timing of the entry of
additional competition in the markets served by the Company;
unusual weather; availability and prices of raw materials for
current and future construction projects; Federal or state
legislation and regulatory decisions and initiatives that affect
cost and investment recovery, have an impact on rate structures or
affect the speed and degree to which competition enters the
Company's markets; environmental laws and regulations that may
impact the Company's operations; changes in accounting standards,
rules or guidelines; the discontinuance of accounting principles
for certain types of rate-regulated activities; the cost of
protecting assets against, or damage due to, terrorism or cyber
attacks and other catastrophic events; advances in technology;
creditworthiness of suppliers, customers and other contractual
parties; difficulty in making accurate assumptions and projections
regarding future revenues and costs associated with the Company's
equity investment in Enable Midstream Partners that the Company
does not control; and other risk factors listed in the reports
filed by the Company with the Securities and Exchange Commission
including those listed in Risk Factors and Exhibit 99.01 to the
Company's Form 10-K for the year ended December 31, 2015.
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SOURCE OGE Energy Corp.