CHARLOTTE, N.C., July 7, 2015 /PRNewswire/ -- Duke Energy today declared a quarterly cash dividend on its common stock of $0.825 per share, an increase of $0.03 per share, or 3.8 percent.
This is double the rate at which the dividend has grown annually since 2010.
The dividend is payable on Sept. 16, 2015, to shareholders of record at the close of business Aug. 14, 2015.
"For the past 89 consecutive years, the dividend payment has been an important part of our commitment to deliver attractive total returns to shareholders," said Lynn Good, president and CEO. "The strength of our cash flows and balance sheet provides valuable financial flexibility to continue growing the dividend.
"Operational excellence in our core domestic businesses continues to provide strong support to our financial objectives. Even though we are experiencing some near-term earnings challenges in our International business, we have a plan to distribute $2.7 billion of foreign cash by 2022, providing further support for our growth initiatives and the dividend," stated Good.
The company's long-term target dividend payout ratio continues to be in the range of 65 to 70 percent of adjusted diluted earnings per share.
Subject to the discretion and approval of the board, the company plans to increase future annual dividends at a rate more in line with its adjusted diluted earnings per share growth targets.
This reflects the company's confidence in the strength of its core businesses and its commitment to deliver an attractive long-term investment value proposition for shareholders.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 250 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at: www.duke-energy.com.
Media Contact: Tom Shiel
Analyst Contact: Bill Currens
SOURCE Duke Energy