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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160203005891/en/
Copyright Business Wire 2016
Source: Business Wire
(February 3, 2016 - 9:04 AM EST)
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