The Xcel Energy Inc. (NYSE:XEL) board of directors today raised the
quarterly dividend on the company’s common stock from 28 cents per share
to 30 cents per share, which is equivalent to an annual rate of $1.20
per share. The Board declared the first quarter common stock dividend
payable April 20, 2014, to shareholders of record on March 20, 2014. The
Board plans to review dividend policy annually at the February board
meeting and does not anticipate further increases to the quarterly
dividend in 2014.
“We understand the importance of the dividend to our shareholders and,
today, we are pleased to report that we’ve increased our dividend by 7
percent to ensure we provide an attractive dividend yield, reflecting
the confidence we have in our business plan,” said Ben Fowke, chairman,
president, and CEO.
“Our long-term objective is to grow the dividend 4-6 percent annually,
however, the Board of Directors will periodically review our dividend
policy to ensure it provides a competitive and attractive dividend
yield,” said Fowke.
Xcel Energy is a major U.S. electricity and natural gas company, with
operations in 8 Western and Midwestern states. Xcel Energy provides a
comprehensive portfolio of energy-related products and services to 3.4
million electricity customers and 1.9 million natural gas customers
through its regulated operating companies. Company headquarters are
located in Minneapolis. More information is available at www.xcelenergy.com.
This information is not given in connection with any sale or offer for
sale or offer to buy any securities.
Except for the historical statements contained in this release, the
matters discussed herein, are forward-looking statements that are
subject to certain risks, uncertainties and assumptions. Such
forward-looking statements, including our 2014 earnings per share
guidance and assumptions, are intended to be identified in this document
by the words “anticipate,” “believe,” “estimate,” “expect,” “intend,”
“may,” “objective,” “outlook,” “plan,” “project,” “possible,”
“potential,” “should” and similar expressions. Actual results may vary
materially. Forward-looking statements speak only as of the date they
are made, and we do not undertake any obligation to update them to
reflect changes that occur after that date. Factors that could cause
actual results to differ materially include, but are not limited to:
general economic conditions, including inflation rates, monetary
fluctuations and their impact on capital expenditures and the ability of
Xcel Energy Inc. and its subsidiaries (collectively, Xcel Energy) to
obtain financing on favorable terms; business conditions in the energy
industry, including the risk of a slow down in the U.S. economy or delay
in growth recovery; trade, fiscal, taxation and environmental policies
in areas where Xcel Energy has a financial interest; customer business
conditions; actions of credit rating agencies; competitive factors,
including the extent and timing of the entry of additional competition
in the markets served by Xcel Energy Inc. and its subsidiaries; unusual
weather; effects of geopolitical events, including war and acts of
terrorism; state, federal and foreign legislative and regulatory
initiatives that affect cost and investment recovery, have an impact on
rates or have an impact on asset operation or ownership or impose
environmental compliance conditions; structures that affect the speed
and degree to which competition enters the electric and natural gas
markets; costs and other effects of legal and administrative
proceedings, settlements, investigations and claims; actions by
regulatory bodies impacting our nuclear operations, including those
affecting costs, operations or the approval of requests pending before
the Nuclear Regulatory Commission; financial or regulatory accounting
policies imposed by regulatory bodies; availability or cost of capital;
employee work force factors; and the other risk factors listed from time
to time by Xcel Energy in reports filed with the Securities and Exchange
Commission (SEC), including Risk Factors in Item 1A and Exhibit 99.01 of
Xcel Energy Inc.’s Annual Report on Form 10-K for the year ended
12/31/2012 and Quarterly Reports on Form 10-Q for the quarters ended
March 31, June 30 and Sept. 30, 2013.
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