Houston - Jan. 20, 2014 - CenterPoint Energy, Inc.’s. (NYSE: CNP) board of directors today declared a regular quarterly cash dividend of $0.2375 per share of common stock payable on March 10, 2014, to shareholders of record at the close of business on Feb. 14, 2014. This represents a 14.5 percent increase from the previous quarterly dividend of $0.2075, and if annualized, would equate to $0.95 per share.
CenterPoint Energy’s objective is to provide a quarterly cash dividend that is supported by the long-term stability and growth of its regulated utility operations combined with the growth of its significant interest in the distributable cash flow from Enable Midstream Partners. The company’s intention is to target a payout of 60 to 70 percent of sustainable earnings from its regulated utility operations and 90 to 100 percent of the net after-tax cash distributions it receives from Enable Midstream Partners.
“This significant dividend increase demonstrates our commitment to our shareholders and our confidence in the underlying growth prospects for both our regulated utility earnings and our cash distributions from Enable Midstream Partners,” said Scott M. Prochazka, president and chief executive officer of CenterPoint Energy. “We have now increased our dividend for nine consecutive years and by 138 percent over that period. We believe we are well positioned to continue our objective of annual dividend increases.”
“The board’s decision today allows CenterPoint Energy to increase significantly its dividend without sacrificing our on-going high levels of capital investment in our regulated utilities and the maintenance of the strong credit metrics we currently enjoy,” said Gary L. Whitlock, CenterPoint Energy chief financial officer.
CenterPoint Energy, Inc., headquartered in Houston, Texas, is a domestic energy delivery company that includes electric transmission & distribution, natural gas distribution and competitive natural gas sales and services operations. The company serves more than five million metered customers primarily in Arkansas, Louisiana, Minnesota, Mississippi, Oklahoma and Texas. The company also owns a 58.3 percent limited partner interest in Enable Midstream Partners, a partnership it jointly controls with OGE Energy Corp. with operations in major natural gas and liquids producing areas of Oklahoma, Texas, Arkansas, Louisiana and North Dakota. With more than 8,700 employees, CenterPoint Energy and its predecessor companies have been in business for more than 135 years. For more information, visit the website at www.CenterPointEnergy.com.