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.

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Natural gas service restoration in Paragould, Ark.

HOUSTON – December 2, 2016 – Following a natural gas outage affecting more than 400 customers on the east side of Paragould, Ark., CenterPoint Energy has restored service to all customers who have provided the company access to perform safety checks and relight pilots.  

Customers have been without gas service because of a disruption in the natural gas supply that occurred Thursday afternoon.

"We greatly appreciate our customers' cooperation and patience as our employees worked as quickly as we could to safely restore natural gas service," said Terry Rollins, district director for CenterPoint Energy.

A small number of customers still remain without service because CenterPoint Energy employees were not able to access their home or business. The relighting process requires CenterPoint Energy employees to have access to each location to light pilots and check to make sure it is safe to resume service.

"A customer needs to call us only if there is a door hanger at their home or business indicating that we've already been by to attempt to restore service," Rollins said. "Please call the number on the door tag left by our service personnel."

 

CenterPoint Energy making significant progress restoring service following natural gas outage in Paragould

HOUSTON – December 2, 2016 - CenterPoint Energy has made progress in restoring natural gas service to approximately 450 customers in Paragould, Ark. Customers have been without gas service because of a disruption in the company's gas supply which occurred yesterday afternoon.

"We called in additional employees from other parts of Arkansas which allowed us to turn off each customer's meter yesterday," said Terry Rollins, district director for CenterPoint Energy. "We are now beginning the process of going home to home to restore service to each customer."

The relighting process requires CenterPoint Energy employees to have access to each location to light pilots and check to make sure it is safe to resume service.

"We understand this is an inconvenience, but we appreciate our customers' cooperation and patience," Rollins said. "If at all possible, we'd like to ask that customers be at home since it is necessary for our employees to go inside to restore natural gas service.

"A customer needs to call us only if there is a door hanger at their home or business indicating that we've already been by to attempt to restore service. Please call the number on the door tag left by our service personnel."

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 re-pressurization process.

"We estimate that all customers who are home will have service restored by this evening," Rollins said.

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

CenterPoint Energy reports natural gas outage for customers in Paragould, Arkansas

Houston – December 1, 2016 - CenterPoint Energy is experiencing a natural gas outage on the east side of Paragould, Arkansas that is affecting about 450 customers.

"Safety is our number one priority as we work to restore natural gas service," said Terry Rollins, district director for CenterPoint Energy. "As part of our procedure, we have begun the process this afternoon of turning off each customer's natural gas meter; our goal is to have each meter turned off by later this evening.

"We will then work to ensure that the natural gas distribution lines are clear of air. Once the lines are clear, our certified service technicians will begin performing a series of safety checks to ensure there is no risk involved in restoring gas service," Rollins added. "To perform these inspections, CenterPoint Energy service technicians will need to enter each home or business; we expect this process to begin tomorrow morning and continue throughout the day tomorrow. 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," Rollins said. "We anticipate restoring service to most customers by end of day tomorrow. 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 issues important cold weather safety tips

HOUSTON – November 30, 2016 – As the temperatures drop, CenterPoint Energy reminds natural gas customers of some important tips to stay safe and warm this season.

Carbon monoxide (CO) is a poisonous gas that is colorless, odorless, tasteless and non-irritating, and any fuel-burning appliance in the home has the potential to produce CO. To prevent CO buildup:

  • Have your heating system checked annually by a qualified heating and air conditioning technician.
  • Follow manufacturers' operating instructions properly for gas heating equipment.
  • Do not use stovetop burners or ovens to heat a room since they are not designed for this use.
  • Make sure to follow the blue flame rule. Natural gas flames should burn blue except natural gas fireplace logs which burn orange to have a more realistic wood burning look.
  • Crack windows slightly if using unvented space heaters.
  • Consider buying a CO detector as another line of defense against CO poisoning. CenterPoint Energy recommends buying one with an audible alarm and continuous digital display; make sure it is tested to the national standard for residential CO detectors (UL2034 or IAS NO. 6-96).

 If you are in a room with operating gas equipment and experience a headache, followed by dizziness and nausea, you may be experiencing CO poisoning. Get fresh air immediately, and call CenterPoint Energy. For more information on natural gas safety, visit CenterPointEnergy.com/Safety.

CenterPoint Energy joins the Global #GivingTuesday Movement

​​HOUSTON, TX – November 29, 2016 – CenterPoint Energy has joined #GivingTuesday, a global day of giving that harnesses the power of individuals, communities and organizations to encourage philanthropy and to celebrate generosity worldwide. Today, more than 800 gifts will be collected for the Salvation Army’s Angel Tree Program in advance of the Christmas holiday in the company’s Houston region, and approximately 350 gifts are expected to be collected in Minnesota next week.

Since 1889, the Salvation Army has provided Christmas assistance to disadvantaged families and individuals to ensure that they have a wonderful holiday season. CenterPoint Energy has been a long-time supporter of the program, collecting more than 4,200 donations over the past seven years, helping to provide a merry Christmas for more than 4,000 families in the Greater Houston area. 
 
“We are so excited to once again participate in the Salvation Army’s Angel Tree Program,” said Diane Englet, senior director of Community Relations for CenterPoint Energy. “This cause brings so much joy and excitement to our employees. Every year they look forward to receiving their Angel Tree tags and have continued to increase the number they request. It truly is a heartwarming sight to see the smiles on their faces as they bring in their gifts on collection day!”

Because of the generosity of employees throughout CenterPoint Energy’s service territory, countless other organizations have received financial and volunteer support over the years. Last year, CenterPoint Energy partnered with local blood drives to donate a total of 4,830 pints of blood, which is the equivalent of saving more than 14,000 lives.  

“With more than 203,000 hours of volunteer service provided by employees in 2015, valued by the Independent Sector at $4.7 million, CenterPoint Energy has been able to offer support for organizations that do so much for so many, throughout the company’s service territory,” added Englet.  

To learn more about what CenterPoint Energy is doing in your community, visit CenterPointEnergy.com/Community. 

About #GivingTuesday

#GivingTuesday is a movement to celebrate and provide incentives to give—the 2016 iteration will be held on November 29, 2016. This effort harnesses the collective power of a unique blend of partners—nonprofits, businesses and corporations as well as families and individuals—to transform how people think about, talk about and participate in the giving season. #GivingTuesday inspires people to take collaborative action to improve their local communities, give back in better, smarter ways to the charities and causes they celebrate and help create a better world. #GivingTuesday harnesses the power of social media to create a global moment dedicated to giving around the world. 

​To learn more about #GivingTuesday participants and activities or to join the celebration of giving, please visit:



​View an infographic about CenterPoint Energy's contribution to #GivingTuesday here​.


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 7,800 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.