HOUSTON, Jan. 29, 2016 /PRNewswire/ -- The Board of Directors of Columbia Pipeline Group, Inc. (NYSE: CPGX) ("CPG") today approved a quarterly dividend payment of 12.875 cents per share, payable February 19, 2016, to common stockholders of record at the close of business February 8, 2016.
"Today's announcement delivers on one of our core commitments as an independent pipeline, midstream and storage company," CPG Chairman and Chief Executive Officer Robert C. Skaggs, Jr. said. "Our stable and predictable cash flow combined with an extensive and, indeed, transformational inventory of growth and modernization investments, provides a clear line of sight on delivering enhanced shareholder value through consistent EBITDA and dividend growth. We fully expect to deliver average annual dividend growth of at least 15 percent, as measured on a fourth quarter to fourth quarter basis. We believe CPG provides an attractive investment proposition by any standard, clearly even more compelling in the current environment."
About Columbia Pipeline Group, Inc.
Columbia Pipeline Group, Inc. operates approximately 15,000 miles of strategically located interstate pipeline, gathering and processing assets extending from New York to the Gulf of Mexico, including an extensive footprint in the Marcellus and Utica Shale production areas. Columbia Pipeline Group also operates one of the nation's largest underground natural gas storage systems. Columbia Pipeline Group is listed on the NYSE under the ticker symbol CPGX. Additional information can be found at www.cpg.com.
Forward Looking Statements
This release may include "forward-looking statements" within the meaning of federal securities laws. Such forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the CPG's control. All statements, other than historical facts included in this release, are forward-looking statements. All forward-looking statements speak only as of the date of this release. Although CPG believes that the plans, intentions and expectations reflected in or suggested by the forward-looking statements are reasonable, there is no assurance that these plans, intentions or expectations will be achieved. Therefore, actual outcomes and results could materially differ from what is expressed, implied or forecast in such statements.
CPG's business may be influenced by many factors that are difficult to predict, involve uncertainties that may materially affect actual results and are often beyond the CPG's control. These factors include, but are not limited to, changes to business plans as circumstances warrant. For a full discussion of these risks and uncertainties, please refer to the "Risk Factors" section of the CPG's Registration Statement on Form 10 dated and filed with the Securities Exchange Commission on February 6, 2015, as amended and declared effective on June 2, 2015. Additional information will also be set forth in CPG's Annual Report on Form 10-K for the year ended December 31, 2015.CPG refers you to those discussions for further information.
SOURCE Columbia Pipeline Group, Inc.