NiSource Announces 4 Percent Dividend Increase
MERRILLVILLE, Ind., May 13, 2014 /PRNewswire/ -- The Board of Directors of NiSource Inc. (NYSE: NI) today declared a quarterly common dividend payment of 26 cents per share, payable Aug. 20, 2014, to stockholders of record at the close of business July 31, 2014. This represents a 4 percent increase in the company's dividend and would result in an increase of the annualized dividend from $1.00 to $1.04 per share on NiSource common stock.
"The Board's actions today represent NiSource's commitment to a secure and growing dividend as a core component of building sustainable shareholder value," NiSource President & CEO Robert C. Skaggs Jr. said. "Supporting our commitment to shareholder value is projected earnings growth of 5 to 7 percent annually. Both the dividend and earnings growth are supported by an accretive infrastructure investment inventory that exceeds $30 billion."
NiSource Inc. (NYSE: NI), based in Merrillville, Ind., is a Fortune 500 company engaged in natural gas transmission, storage and distribution, as well as electric generation, transmission and distribution. NiSource operating companies deliver energy to 3.8 million customers located within the high-demand energy corridor stretching from the Gulf Coast through the Midwest to New England. Information about NiSource and its subsidiaries is available at www.nisource.com. NI-F
Forward Looking Statements
This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Those statements include statements regarding the intent, plans, belief or current expectations of NiSource and its management. Although NiSource believes that its expectations are based on reasonable assumptions, it can give no assurance that its goals will be achieved. Readers are cautioned that the forward-looking statements in this release are not guarantees of future performance and involve a number of risks and uncertainties, and that actual results could differ materially from those indicated by such forward-looking statements. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, but are not limited to, the matters set forth in the "Risk Factors" Section and the Note regarding forward-looking statements in NiSource's 2013 Form 10-K and subsequent filings on Form 10-Q, many of which are risks beyond the control of NiSource. NiSource expressly disclaims a duty to update any of the forward-looking statements contained in this release.
SOURCE NiSource Inc.