TECO Energy Raises Dividend for 2016
February 03 2016 - 9:04AM
Business Wire
The board of directors of TECO Energy Inc. (NYSE:TE) has
declared a quarterly dividend of 23 cents per share, or 92 cents
per share on an annual basis – an increase of 2.2 percent. The
dividend is payable Feb. 29 to shareholders of record as of Feb.
12.
“I am proud of TECO Energy’s 92 consecutive years of cash
dividends,” said John Ramil, president and chief executive officer
of TECO Energy. “We are pleased we can continue to reward our
shareholders for their many years of loyalty.”
TECO Energy Inc. (NYSE: TE) is an energy-related holding company
with regulated electric and gas utilities in Florida and New
Mexico. Tampa Electric serves more than 715,000 customers in West
Central Florida; Peoples Gas System serves more than 360,000
customers across Florida; and New Mexico Gas Co. serves more than
515,000 customers across New Mexico.
Note: This press release contains forward-looking statements,
which are subject to the inherent uncertainties in predicting
future results and conditions. Actual results may differ materially
from those forecasted. The forecasted results are based on the
company's current expectations and assumptions, and the company
does not undertake to update that information or any other
information contained in this press release, except as may be
required by law. Any future dividends, including those in 2016, are
subject to the decision of the board of directors at the time of
declaration. Such decisions will be dependent upon many factors,
including TECO Energy’s financial outlook and the factors that
could impact its actual results. Factors that could impact future
dividend payments include: whether the company closes the merger
with Emera Inc. and the timing of such closing; regulatory actions
by federal, state or local authorities; the ability to successfully
implement the integration plans for New Mexico Gas Company, Inc.
and generate the expected financial results; unexpected capital
needs or unanticipated reductions in cash flow that affect
liquidity; the ability to access the capital and credit markets
when required; general economic conditions affecting energy sales
at the utility companies; economic conditions, both national and
international, affecting the Florida and New Mexico economies;
weather variations and changes in customer energy usage patterns
affecting sales and operating costs at the utilities and the effect
of weather conditions on energy consumption; the effect of extreme
weather conditions or hurricanes; general operating conditions;
input commodity prices affecting costs at all of the operating
companies; natural gas demand at the utilities; and the ability of
TECO Energy's subsidiaries to operate equipment without undue
accidents, breakdowns or failures. Additional information is
contained under "Risk Factors" in TECO Energy Inc.'s Annual Report
on Form 10-K for the period ended Dec. 31, 2014, and as updated in
subsequent SEC filings.
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version on businesswire.com: http://www.businesswire.com/news/home/20160203005891/en/
TECO Energy Inc.Media Contact:Cherie Jacobs 813-228-4945
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