WASHINGTON--(BUSINESS WIRE)--Jun. 6, 2018--
WGL Holdings, Inc. (NYSE: WGL) declared a regular quarterly dividend of
$0.515 per share of common stock, subject to proration as described
The dividend is payable to holders of record at the earlier of the close
of business on the day upon which the merger of WGL Holdings, Inc. (WGL
Holdings) and AltaGas Ltd. becomes effective (Effective Time) and July
10, 2018. If the Effective Time occurs prior to July 10, 2018, the
dividend will be paid no later than five business days following the
Effective Time. Otherwise, the dividend will be payable on August 1,
2018 in accordance with WGL Holdings’ usual dividend schedule.
In the event that the Effective Time occurs before July 10, 2018, the
amount per common share of this dividend will be prorated to reflect the
actual number of days from the record date for payment of the last
quarterly dividend paid by WGL Holdings prior to the Effective Time
multiplied by $0.00566 (calculated by dividing $0.515 by 91). The
prorated dividend is intended to cover the period between April 11, 2018
and completion of the merger.
Washington Gas Light Company, a utility subsidiary of WGL Holdings
(Washington Gas), also declared regular dividends on all classes of its
preferred stock as follows:
Class of Serial
Dividend Per Share
$ 4.25 Series
$ 4.80 Series
$ 5.00 Series
Dividends on the utility's preferred stock are payable August 1, 2018,
to shareholders of record as of July 10, 2018. It is currently expected
that the preferred stock of Washington Gas will remain outstanding
following the merger and, thus, dividends to preferred stockholders will
be unaffected by the merger.
WGL (NYSE: WGL), headquartered in Washington, D.C., is a leading source
for clean, efficient and diverse energy solutions. With activities and
assets across the U.S., WGL consists of Washington Gas, WGL Energy, WGL
Midstream and Hampshire Gas. WGL provides natural gas, electricity,
green power and energy services, including generation, storage,
transportation, distribution, supply and efficiency. Our calling as a
company is to make energy surprisingly easy for our employees, our
community and all our customers. Whether you are a homeowner or renter,
small business or multinational corporation, state and local or federal
agency, WGL is here to provide Energy Answers. Ask Us. For more
information, visit us at www.wgl.com.
This news release and other statements by WGL Holdings include
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995 with respect to the outlook for earnings,
revenues, dividends and other future financial business performance,
strategies, financing plans, WGL Holdings’ proposed merger with AltaGas
Ltd., Washington Gas preferred stock and other expectations.
Forward-looking statements are typically identified by words such as,
but are not limited to, "estimates," "expects," "anticipates,"
"intends," "believes," "plans," and similar expressions, or future or
conditional verbs such as "will," "should," "would," and "could."
Although WGL Holdings believes such forward-looking statements are based
on reasonable assumptions, it cannot give assurance that every objective
will be achieved. Forward-looking statements speak only as of the date
of this release, and WGL Holdings assumes no duty to update them.
Factors that could cause actual results to differ materially from those
expressed or implied include, but are not limited to, general economic
conditions, the possibility that the closing of the proposed merger with
AltaGas Ltd. may not occur or may be delayed; litigation related to the
proposed AltaGas Ltd. transaction or limitations or restrictions imposed
by regulatory authorities that may delay or negatively impact the
proposed transaction; the potential loss of customers, employees or
business partners as a result of the transaction and the factors
discussed under the "Risk Factors" heading in WGL Holdings’ most recent
annual report on Form 10-K and quarterly reports on Form 10-Q and other
documents that WGL Holdings has filed with, or furnished to, the U.S.
Securities and Exchange Commission.
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Source: WGL Holdings, Inc.
WGL Holdings, Inc.