Piedmont Natural Gas Increases Dividend for 31st Consecutive Year
March 06 2009 - 12:02PM
PR Newswire (US)
Company announces results of shareholder votes today CHARLOTTE,
N.C., March 6 /PRNewswire-FirstCall/ -- The Board of Directors of
Piedmont Natural Gas (NYSE:PNY) today approved an increase in the
Company's dividend for the 31st consecutive year. At its regularly
scheduled meeting, the Board declared a quarterly dividend on
Common Stock of 27 cents per share, a 3.8% increase over the
previous quarterly dividend of 26 cents per share. The increased
dividend is payable April 15, 2009, to shareholders of record at
the close of business on March 25, 2009. At today's annual meeting
of shareholders four members of the Board of Directors were
re-elected: E. James Burton, John W. Harris, Aubrey B. Harwell, and
David E. Shi. Shareholders also ratified the appointment of
Deloitte & Touche LLP as the Company's auditors for 2009, but
did not approve a proposed amendment to the Company's Articles of
Incorporation that would have eliminated the classified structure
of the Board of Directors. The Company's proposal to eliminate the
classified structure of the Board of Directors did not receive the
requisite vote of 80% of all outstanding shares. As a result, the
Board of Directors will continue to be divided into three classes,
each having the same number of Directors and elected for three year
terms. About Piedmont Natural Gas Piedmont Natural Gas (NYSE:PNY)
is an energy services company primarily engaged in the distribution
of natural gas to more than one million residential, commercial and
industrial utility customers in North Carolina, South Carolina and
Tennessee, including 62,000 customers served by municipalities who
are wholesale customers. Our subsidiaries are invested in joint
venture, energy-related businesses, including unregulated retail
natural gas marketing, interstate natural gas storage and
intrastate natural gas transportation. More information about
Piedmont Natural Gas is available on the Internet at
http://www.piedmontng.com/. DATASOURCE: Piedmont Natural Gas
CONTACT: Investors: John Sutphin, +1-704-731-4314, ; Media: David
Trusty, +1-704-731-4391, , both of Piedmont Natural Gas Web site:
http://www.piedmontng.com/
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