ST. LOUIS, Nov. 20, 2014 /PRNewswire/ -- The board of directors of The Laclede Group, Inc. (NYSE: LG) increased the quarterly common stock dividend to $0.46 per share from $0.44 per share, which raises the annualized rate by 4.5 percent to $1.84 per share.
"The Board unanimously approved this increase, reflecting not only Laclede's strong financial position and operating performance, but also our confidence in the Company's ability to continue successfully executing on its growth strategy," said Bill Nasser, chairman of the board of The Laclede Group.
The dividend is payable on January 5, 2015, to shareholders of record on December 11, 2014. The Laclede Group has continuously paid a cash dividend since 1946, with 2015 marking the Company's 12th consecutive year of increasing its dividend on an annualized basis.
ABOUT THE LACLEDE GROUP
The Laclede Group, Inc. (NYSE: LG), headquartered in St. Louis, Missouri, is a public utility holding company whose primary business is the safe and reliable delivery of natural gas service to more than 1.5 million residential, commercial, and industrial customers across Missouri and Alabama. Its Gas Utility segment consists of three natural gas utilities: Laclede Gas (serving St. Louis and eastern Missouri), Missouri Gas Energy (serving Kansas City and western Missouri) and Alabama Gas Corporation (serving 186 cities and communities including Birmingham and Montgomery). Laclede's primary non-utility business, Laclede Energy Resources, Inc., included in the Gas Marketing segment, provides non-regulated natural gas services. Laclede Group is committed to pursuing growth through 1) developing and investing in emerging technologies; 2) investing in infrastructure; 3) acquiring businesses to which the Company can apply its operating model, and 4) leveraging its current business unit competencies. For more information about Laclede and its subsidiaries, visit www.TheLacledeGroup.com.
SOURCE The Laclede Group, Inc.