El Paso Electric Announces an Increase in the Quarterly Dividend
May 29 2014 - 6:50PM
Business Wire
The Board of Directors of El Paso Electric (NYSE:EE) has
declared a regular quarterly cash dividend on its common stock of
$0.28 per share. The dividend was declared on May 29, 2014 and is
payable on June 30, 2014 to shareholders of record on June 13,
2014. At the new rate, the indicated annualized cash dividend would
be $1.12 per share for the following year, up from $1.06 paid in
the last four quarters.
El Paso Electric is a regional electric utility providing
generation, transmission, and distribution service to approximately
395,000 retail and wholesale customers in a 10,000 square mile area
of the Rio Grande valley in west Texas and southern New Mexico. El
Paso Electric has a net dependable generating capability of 1,872
MW. El Paso Electric's common stock trades on the New York Stock
Exchange under the symbol EE.
Safe Harbor
This news release includes statements that may constitute
forward-looking statements made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
This information may involve risks and uncertainties that could
cause actual results to differ materially from such forward-looking
statements. Factors that could cause or contribute to such
differences include, but are not limited to: (i) increased prices
for fuel and purchased power and the possibility that regulators
may not permit EE to pass through all such increased costs to
customers or to recover previously incurred fuel costs in rates;
(ii) recovery of capital investments and operating costs through
rates in Texas and New Mexico; (iii) uncertainties and instability
in the general economy and the resulting impact on EE's sales and
profitability; (iv) changes in customers’ demand for electricity as
a result of energy initiatives and emerging competing services and
technologies; (v) unanticipated increased costs associated with
scheduled and unscheduled outages of generating plant; (vi) the
size of our construction program and our ability to complete
construction on budget; (vii) potential delays in our construction
schedule due to legal challenges or other reasons; (viii) costs at
Palo Verde; (ix) deregulation and competition in the electric
utility industry; (x) possible increased costs of compliance with
environmental or other laws, regulations and policies; (xi)
possible income tax and interest payments as a result of audit
adjustments proposed by the IRS or state taxing authorities; (xii)
uncertainties and instability in the financial markets and the
resulting impact on EE's ability to access the capital and credit
markets; and (xiii) other factors detailed by EE in its public
filings with the Securities and Exchange Commission. EE's filings
are available from the Securities and Exchange Commission or may be
obtained through EE's website, http://www.epelectric.com. Any such
forward-looking statement is qualified by reference to these risks
and factors. EE cautions that these risks and factors are not
exclusive. EE does not undertake to update any forward-looking
statement that may be made from time to time by or on behalf of EE
except as required by law.
El Paso ElectricPublic Relations:Eddie Gutierrez,
915-543-5763eduardo.gutierrez@epelectric.comorInvestor
Relations:Lisa Budtke,
915-543-5947lisa.budtke@epelectric.com
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