The Xcel Energy Inc. (NYSE: XEL) board of directors today raised the
quarterly dividend on the company’s common stock from 30 cents per share
to 32 cents per share, which is equivalent to an annual rate of $1.28
per share. The Board declared the first quarter common stock dividend
payable April 20, 2015, to shareholders of record on March 17, 2015.
“The dividend is an important part of our total return to our
shareholders, in addition to our investment opportunities which continue
to provide attractive rate base growth. We are pleased to increase our
dividend by 6.7 percent, which reflects the confidence we have in our
business plan and our financial flexibility,” said Ben Fowke, chairman,
president, and CEO.
“We are also increasing our dividend growth objective to 5-7 percent
annually. In addition, we are establishing a long-term dividend payout
ratio target of 60-70 percent. Our earnings per share growth objective
remains at 4-6 percent annually,” 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 3.5
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 2015 EPS 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 slowdown 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; the items described under
Factors Affecting Results of Operations in Item 7 of Xcel Energy Inc.’s
Form 10-K for the year ended Dec. 31, 2013; 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 Dec. 31, 2013 and Quarterly Reports on Form 10-Q for
the quarters ended March 31, June 30 and Sept. 30, 2014.
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