WGL Holdings, Inc. Raises Annual Dividend $0.08 Per Share to $1.68; 37th Consecutive Annual Increase in Common Stock Dividend
WASHINGTON--(BUSINESS WIRE)-- The Board of Directors of WGL Holdings, Inc. (NYS: WGL) , the parent company of Washington Gas Light Company (Washington Gas), on February 5, 2013, voted to increase the quarterly dividend on its common stock to $0.4200 per share from $0.4000 per share. This change increases the annualized dividend level to $1.68 per share from $1.60 per share.
"I am pleased to announce an eight-cent increase in our annual dividend to an annual rate of $1.68 per share," said Terry D. McCallister, Chairman and Chief Executive Officer of WGL Holdings, Inc. "This 5% increase is greater than our recent average of 3%, and it reflects confidence in both our strategic plan and our ability to continue to deliver increased earnings and value to our shareholders."
This annual increase is the 37th consecutive year that WGL Holdings, Inc. has increased the cash dividend on its common stock. The company has one of the longest dividend payment records on the New York Stock Exchange, with 162 years of dividend payments to shareholders.
The new quarterly dividend is payable May 1, 2013, to shareholders of record on April 10, 2013.
In addition, on February 5, 2013, Washington Gas declared regular dividends on all classes of the utility company's preferred stock as follows:
Class of Serial
Dividend Per Share
$ 4.25 Series
$ 4.80 Series
$ 5.00 Series
Dividends on the preferred stock of Washington Gas are also payable May 1, 2013, to shareholders of record on April 10, 2013.
Headquartered in Washington, D.C., WGL Holdings, Inc. has four operating segments: (i) the regulated utility segment which primarily consists of Washington Gas, a natural gas utility that serves over one million customers throughout metropolitan Washington, D.C., and the surrounding region; (ii) the retail-energy marketing segment which consists of Washington Gas Energy Services, Inc., a third-party marketer that competitively sells natural gas and electricity; (iii) the commercial energy systems segment which consists of Washington Gas Energy Systems, Inc., a provider of design-build energy efficiency solutions to government and commercial clients, commercial solar projects, and the operations of WGSW, a holding company formed to invest in alternative energy assets and (iv) the wholesale energy solutions segment which consists of Capitol Energy Ventures Corp., an asset optimization business that acquires, manages and optimizes natural gas storage and transportation assets. Additional information about WGL Holdings, Inc. is available on our website, www.wglholdings.com.
This news release and other statements by us include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to the outlook for earnings, revenues and other future financial business performance or strategies and expectations.Forward-looking statements are typically identified by words such as, but not limited to, "estimates," "expects," "anticipates," "intends," "believes," "plans," and similar expressions, or future or conditional verbs such as "will," "should," "would," and "could."Although we believe such forward-looking statements are based on reasonable assumptions, we cannot give assurance that every objective will be achieved.Forward-looking statements speak only as of today, and we assume no duty to update them.Factors that could cause actual results to differ materially from those expressed or implied include, but are not limited to, general economic conditions and the factors discussed under the "Risk Factors" heading in our most recent annual report on Form 10-K and other documents we have filed with, or furnished to, the U.S. Securities and Exchange Commission.
WGL Holdings, Inc.
Ruben Rodriguez, 202-624-6620
Douglas Bonawitz, 202-624-6129
KEYWORDS: United States North America District of Columbia New York
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