March 4, 2010 at 4:20 PM EST
WGL Holdings Raises Annual Dividend $0.04 Per Share to $1.51; 34th Consecutive Annual Increase in Common Stock Dividend
WASHINGTON, Mar 04, 2010 (BUSINESS WIRE) -- The Board of Directors of WGL Holdings, Inc. (NYSE:WGL), the parent company of Washington Gas Light Company, today voted to increase the quarterly dividend on its common stock to $0.3775 per share from $0.3675 per share. This change increases the annualized dividend level to $1.51 per share from $1.47 per share.
Commenting on the announcement, Chairman and CEO Terry D. McCallister said, "Today's dividend increase demonstrates the strength of our business model and confidence in our plans for the future. Our proven ability to deliver solid results and to maintain top tier investment ratings during challenging economic conditions demonstrates the success of our strategic plans and commitment to shareholders."
This annual increase is the 34th consecutive year that WGL Holdings, Inc. has increased the cash dividend on its common stock. The company has one of the longest dividend payment records on the New York Stock Exchange, having provided cash rewards to shareholders for 159 consecutive years.
The new quarterly dividend is payable May 1, 2010, to shareholders of record on April 9, 2010.
In addition, Washington Gas Light Company, a utility subsidiary of WGL Holdings, Inc., declared regular dividends today on all classes of the utility company's preferred stock as follows:
Dividends on the utility subsidiary's preferred stock are also payable May 1, 2010, to shareholders of record on April 9, 2010.
Headquartered in Washington, D.C., WGL Holdings has three operating segments: (i) the regulated utility segment, which primarily consists of Washington Gas, a natural gas utility that serves over one million customers throughout metropolitan Washington, D.C. and the surrounding region; (ii) the retail energy marketing segment which consists of Washington Gas Energy Services, Inc., a third-party marketer that competitively sells natural gas and electricity and (iii) the design-build energy systems segment, which consists of Washington Gas Energy Systems, Inc., a provider of energy efficiency solutions to government and commercial clients. Additional information about WGL Holdings is available on our Web site, www.wglholdings.com. Go to www.washingtongas.com for more information about Washington Gas Light Company.
This news release and other statements by us include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to the outlook for earnings, revenues and other future financial business performance or strategies and expectations. Forward-looking statements are typically identified by words such as, but 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 we believe such forward-looking statements are based on reasonable assumptions, we cannot give assurance that every objective will be achieved. Forward-looking statements speak only as of today, and we assume 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 and the factors discussed under the "Risk Factors" heading in our most recent annual report on Form 10-K and other documents we have filed with, or furnished to, the U.S. Securities and Exchange Commission.
SOURCE: WGL Holdings, Inc.
WGL Holdings, Inc.
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