CenterPoint Energy increases quarterly dividend 4.2% to 24.75 cents per share
2015-01-26T06:00:00Z
  • Quarterly dividend has increased 19% since formation of Enable in May 2013
  • 10th consecutive year of dividend growth

Houston - Jan. 26, 2015 - CenterPoint Energy, Inc. (NYSE: CNP) announced today that the Board of Directors declared a regular quarterly cash dividend of $0.2475 per share of common stock, payable on March 10, 2015, to shareholders of record at the close of business on Feb. 13, 2015. This represents a 4.2 percent increase from the previous quarterly dividend of $0.2375.

This dividend increase reflects the company’s dividend policy of targeting a payout ratio of 60 to 70 percent of sustainable earnings from Utility Operations and 90 to 100 percent of the net after-tax cash distributions received from Enable Midstream Partners. While our utilities continue to perform as anticipated, Enable has recently announced that they expect to see a change in producer related activities, due to a lower energy commodity price environment, which will affect their future distribution growth rate. Enable plans to update their guidance during their 4th Quarter earnings call in Feb. Given the ongoing energy price volatility and the timing of receiving updated guidance from Enable, we cannot reaffirm the 8 to 10 percent three-year compound annual dividend growth rate forecast provided in June of 2014.

“We are pleased with the increase in our dividend this quarter, as dividend growth is a core component of our investment thesis. This marks the 10th consecutive year we have increased our dividend,” said Scott M. Prochazka, president and chief executive officer of CenterPoint Energy. “This strong increase in our dividend represents the continued strength and stability of our growing Utility Operations as well as our confidence in Enable’s ability to execute their business plan and pursue growth opportunities in a lower energy commodity price environment.”

About CenterPoint Energy, Inc.

CenterPoint Energy, Inc., headquartered in Houston, Texas, is a domestic energy delivery company that includes electric transmission & distribution, natural gas distribution and energy 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 55.4 percent limited partner interest in Enable Midstream Partners, a publicly traded master limited partnership it jointly controls with OGE Energy Corp., which owns, operates and develops natural gas and crude oil infrastructure assets. With more than 8,500 employees, CenterPoint Energy and its predecessor companies have been in business for more than 140 years. For more information, visit the website at www.CenterPointEnergy.com.

Investors and others should note that we may announce material information using SEC filings, press releases, public conference calls, webcasts and the Investors page of our website. In the future, we will continue to use these channels to distribute material information about the company and to communicate important information about the company, key personnel, corporate initiatives, regulatory updates and other matters. Information that we post on our website could be deemed material; therefore, we encourage investors, the media, our customers, business partners and others interested in our company to review the information we post on our website.

Forward-Looking Statements

This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based upon assumptions of management which are believed to be reasonable at the time made and are subject to significant risks and uncertainties. Actual events and results may differ materially from those expressed or implied by these forward-looking statements. Any statements in this news release regarding future earnings, and future financial performance and results of operations, including, but not limited to earnings guidance, and any other statements that are not historical facts are forward-looking statements. Each forward-looking statement contained in this news release speaks only as of the date of this release. Factors that could affect actual results include (1) state and federal legislative and regulatory actions or developments affecting various aspects of CenterPoint Energy's businesses (including the businesses of Enable Midstream Partners (Enable)), including, among others, energy deregulation or re-regulation, pipeline integrity and safety, health care reform, financial reform, tax legislation, and actions regarding the rates charged by CenterPoint Energy's regulated businesses; (2) state and federal legislative and regulatory actions or developments relating to the environment, including those related to global climate change; (3) timely and appropriate rate actions that allow recovery of costs and a reasonable return on investment; (4) the timing and outcome of any audits, disputes or other proceedings related to taxes; (5) problems with construction, implementation of necessary technology or other issues with respect to major capital projects that result in delays or in cost overruns that cannot be recouped in rates; (6) industrial, commercial and residential growth in CenterPoint Energy's service territories and changes in market demand, including the effects of energy efficiency measures and demographic patterns; (7) the timing and extent of changes in commodity prices, particularly natural gas and natural gas liquids, and the effects of geographic and seasonal commodity price differentials, and the impact of commodity changes on producer related activities; (8) weather variations and other natural phenomena, including the impact on operations and capital from severe weather events; (9) any direct or indirect effects on CenterPoint Energy's facilities, operations and financial condition resulting from terrorism, cyber-attacks, data security breaches or other attempts to disrupt its businesses or the businesses of third parties, or other catastrophic events; (10) the impact of unplanned facility outages; (11) timely and appropriate regulatory actions allowing securitization or other recovery of costs associated with any future hurricanes or natural disasters; (12) changes in interest rates or rates of inflation; (13) commercial bank and financial market conditions, CenterPoint Energy's access to capital, the cost of such capital, and the results of its financing and refinancing efforts, including availability of funds in the debt capital markets; (14) actions by credit rating agencies; (15) effectiveness of CenterPoint Energy's risk management activities; (16) inability of various counterparties to meet their obligations; (17) non-payment for services due to financial distress of CenterPoint Energy's customers; (18) the ability of GenOn Energy, Inc. (formerly known as RRI Energy, Inc.), a wholly owned subsidiary of NRG Energy, Inc., and its subsidiaries to satisfy their obligations to CenterPoint Energy and its subsidiaries; (19) the ability of retail electric providers, and particularly the largest customers of the TDU, to satisfy their obligations to CenterPoint Energy and its subsidiaries; (20) the outcome of litigation brought by or against CenterPoint Energy or its subsidiaries; (21) CenterPoint Energy's ability to control costs or invest planned capital; (22) the investment performance of pension and postretirement benefit plans; (23) potential business strategies, including restructurings, joint ventures, and acquisitions or dispositions of assets or businesses, for which no assurance can be given that they will be completed or will provide the anticipated benefits to CenterPoint Energy; (24) acquisition and merger activities involving CenterPoint Energy or its competitors; (25) future economic conditions in regional and national markets and their effects on sales, prices and costs; (26) the performance of Enable, the amount of cash distributions

CenterPoint Energy receives from Enable, and the value of its interest in Enable, and factors that may have a material impact on such performance, cash distributions and value, including certain of the factors specified above and: (A) the integration of the operations of the businesses contributed to Enable; (B) the achievement of anticipated operational and commercial synergies and expected growth opportunities, and the successful implementation of Enable’s business plan; (C) competitive conditions in the midstream industry, and actions taken by Enable’s customers and competitors, including the extent and timing of the entry of additional competition in the markets served by Enable; (D) the timing and extent of changes in the supply of natural gas and associated commodity prices, particularly natural gas and natural gas liquids, the competitive effects of the available pipeline capacity in the regions served by Enable, and the effects of geographic and seasonal commodity price differentials, including the effects of these circumstances on re-contracting available capacity on Enable’s interstate pipelines; (E) the demand for natural gas, NGLs and transportation and storage services; (F) changes in tax status; (G) access to growth capital; and (H) the availability and prices of raw materials for current and future construction projects; and (27) other factors discussed in CenterPoint Energy's Annual Report on Form 10-K for the fiscal year ended December 31, 2013, as well as in CenterPoint Energy’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2014, June 30, 2014, and September 30, 2014, and other reports CenterPoint Energy or its subsidiaries may file from time to time with the Securities and Exchange Commission which can be found at www.CenterPointEnergy.com on the Investor Relations page and on the Securities and Exchange Commission’s website at www.sec.gov.

Other Financial Measure Presentation Notes
This release contains time sensitive information that is accurate only as of the time hereof. Information contained in this release is unaudited and subject to change. CenterPoint undertakes no obligation to update the information herein except to the extent required by law.

some_text CenterPoint Energy

View More Tweets ›

 Recent News

 

 

CenterPoint Energy making progress restoring natural gas service following outage in northeast Texas

Houston – December 14, 2017 - CenterPoint Energy has made progress restoring service following a natural gas outage in northeast Texas that affected several thousand customers in and around Mt. Vernon, Mt. Pleasant, Winfield and Talco. The outage was the result of a service interruption from the company's natural gas supplier, which has been resolved.

"We completed the process of turning off each customer's natural gas meter and have begun the restoration process; we've been able to restore gas service to approximately 38% of impacted customers." said Mike Maxwell, district director for CenterPoint Energy. "Safety is our number-one priority as we continue working to restore service.

"As we begin, qualified service technicians will come to your home and/or business between 7 a.m. and 10 p.m. to perform a series of safety checks to ensure there is no risk involved in restoring gas service," Maxwell added.

"Once our safety checks are complete, we expect most service to be restored by Friday afternoon. We appreciate your patience as we work to restore service to your community," said Maxwell.

At this time, no action is required on the part of the customer. If an adult over age 18 is not at the service address when a technician arrives, the company will leave a door hanger with instructions. All CenterPoint Energy technicians wear badges and will gladly show them to you upon request before entering your home or business.

 

For updates, follow CenterPoint Energy on Twitter: @CNPAlerts and Facebook: Facebook.com/CenterPointEnergy.

CenterPoint Energy continues response to natural gas outage in northeast Texas

​Houston – December 13, 2017 - CenterPoint Energy is continuing to respond to a natural gas outage in northeast Texas that is affecting several thousand customers in and around Mt. Vernon, Mt. Pleasant, Winfield and Talco. The outage was the result of a service interruption from the company’s natural gas supplier, which has been resolved.
 
“Safety is our number-one priority as we work to restore natural gas service,” said Mike Maxwell, district director for CenterPoint Energy. “As part of our safety procedures, to ensure that there is no air in the natural gas distribution lines we started the process of turning off each customer’s natural gas meter this morning and anticipate completing this activity later today.
 
“We will then work to ensure that the natural gas distribution lines are clear of air. Once the lines are clear, our qualified service technicians will begin performing a series of safety checks to ensure there is no risk involved in restoring gas service,” Maxwell added. “To perform these inspections, CenterPoint Energy service technicians will need to enter each home or business. We have also brought in technicians from other parts of the state, as well as support from Arkansas, Oklahoma, Louisiana and Mississippi, to assist in restoring gas service.
 
“There is no need to call us as we make our initial assessments,” Maxwell said. “Once our safety checks are complete, we anticipate restoring service to most customers within 48 hours. At this time, no action is required on the part of the customer. If an adult over age 18 is not at the service address when a technician arrives, the company will leave a door hanger with instructions.”

​For safety reasons, the company urges customers not to turn any valves or tamper with the natural gas meter. Opening or turning any valves could allow air to enter the natural gas lines, which would hinder the restoration process.
For updates, follow CenterPoint Energy on Twitter: @CNPAlerts and Facebook.

CenterPoint Energy increases quarterly dividend 4 percent to 27.75 cents per shar

Houston – Dec. 13, 2017 - CenterPoint Energy, Inc. (NYSE: CNP) today announced that its Board of Directors declared a regular quarterly cash dividend of $0.2775 per share of common stock, payable on March 8, 2018, to shareholders of record at the close of business on February 15, 2018. This represents approximately a 4 percent increase from the previous quarterly dividend of $0.2675, and if annualized, would equate to $1.11 per share.

"I am pleased that for the thirteenth consecutive year, CenterPoint Energy is raising its dividend," said Scott M. Prochazka, president and chief executive officer of CenterPoint Energy.  "This increase demonstrates a strong commitment to our shareholders and the confidence the board of directors has in our ability to deliver sustainable earnings and cash flow."

CenterPoint Energy will begin utilizing a standardized payment schedule for future dividends with dividends payable on the second Thursday of March, June, September and December to shareholders of record at the close of business on the third Thursday of February, May, August and November.   

CenterPoint Energy, Inc., headquartered in Houston, Texas, is a domestic energy delivery company that includes electric transmission & distribution, natural gas distribution and energy services operations. The company serves more than five million metered customers primarily in Arkansas, Louisiana, Minnesota, Mississippi, Oklahoma, and Texas. The company also owns 54.1 percent of the common units representing limited partner interests in Enable Midstream Partners, a publicly traded master limited partnership it jointly controls with OGE Energy Corp., which owns, operates and develops natural gas and crude oil infrastructure assets. With more than 7,700 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, please visit www.CenterPointEnergy.com.

This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based upon assumptions of management which are believed to be reasonable at the time made and are subject to significant risks and uncertainties. Actual events and results may differ materially from those expressed or implied by these forward-looking statements. Any statements in this news release regarding future events, such as annualized dividends per share, future earnings and cash flow, projected dividend record and payment dates, and any other statements that are not historical facts are forward-looking statements. Each forward-looking statement contained in this news release speaks only as of the date of this release.

###

CenterPoint Energy reports natural gas outage for customers in northeast Texas

​​Houston – December 12, 2017 - CenterPoint Energy is experiencing a natural gas outage in northeast Texas that is affecting several thousand customers in and around Mt. Vernon, Mt. Pleasant, Winfield and Talco. The outage is a result of a service interruption from the company’s natural gas supplier.

“Safety is our number-one priority as we work to restore natural gas service,” said Mike Maxwell, district director for CenterPoint Energy. “As part of our safety procedures, to ensure that there is no air in the natural gas distribution lines we will begin the process of turning off each customer’s natural gas meter early tomorrow morning.

“We will then work to ensure that the natural gas distribution lines are clear of air. Once the lines are clear, our qualified service technicians will begin performing a series of safety checks to ensure there is no risk involved in restoring gas service,” Maxwell added. “To perform these inspections, CenterPoint Energy service technicians will need to enter each home or business. We have also brought in technicians from other parts of the state to assist in restoring gas service.

“There is no need to call us as we make our initial assessments,” Maxwell said. “Once our gas supply is restored, we anticipate restoring service to most customers within 48-72 hours. At this time, no action is required on the part of the customer. If an adult over age 18 is not at the service address when a technician arrives, the company will leave a door hanger with instructions.”

For safety reasons, the company urges customers not to turn any valves or tamper with the natural gas meter. Opening or turning any valves could allow air to enter the natural gas lines, which would hinder the restoration process.

For updates, follow CenterPoint Energy on Twitter: @CNPAlerts.​

CenterPoint Energy receives Tree Trust’s 2017 Community Partner Award

Minneapolis – Nov. 27, 2017 – CenterPoint Energy was recently honored with the 2017 Community Partner Award from Tree Trust in Minnesota.  For more than 20 years, CenterPoint Energy has supported the organization's Learning with Trees Program as it partners with local schools to create a more beautiful school environment. Tree Trust and CenterPoint Energy have also collaborated on building students' appreciation for the environment and the importance of paying it forward.  

"We are honored to receive the Community Partner Award and proud of our long-standing relationship with Tree Trust," said Doug Peterson, director of Home Service Plus® for CenterPoint Energy and Tree Trust board member.  "Tree Trust's mission to invest in our communities and the environment aligns well with our company's core values." 

Brad Tutunjian, vice president of Gas Operations in Minnesota, added, "Credit for this prestigious award goes to our employees who volunteer their personal time to support a healthy environment and vibrant communities. Tree Trust makes a positive, lasting impact across our state and we are proud to be its partner."

Tree Trust is a Minnesota non-profit organization founded in 1976. Its mission is to improve the community environment by investing in people. Tree Trust operates employment training programs that help disadvantaged youth and adults reshape their lives, environmental education programs that turn students into informed environmental leaders, and community forestry programs that empower people to take an active role in improving the local environment.

CenterPoint Energy, Inc., headquartered in Houston, Texas, is a domestic energy delivery company that includes electric transmission & distribution, natural gas distribution and energy services operations. The company serves more than five million metered customers primarily in Arkansas, Louisiana, Minnesota, Mississippi, Oklahoma, and Texas. The company also owns 54.1 percent of the common and subordinated units representing limited partner interests in Enable Midstream Partners, a publicly traded master limited partnership it jointly controls with OGE Energy Corp., which owns, operates and develops natural gas and crude oil infrastructure assets. With more than 7,700 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. The utility also operates a non-regulated business in Minnesota called Home Service Plus®. For more information, visit the website at CenterPointEnergy.com.