TECO Energy increases quarterly dividend
TAMPA, April 30, 2008
TECO Energy (NYSE:TE) announced today that its Board of Directors has approved an increase to the company’s quarterly dividend. The dividend will increase to 20 cents per share, from 19.5 cents per share.
Chairman and CEO Sherrill Hudson said, “We are proud of the accomplishments of the entire TECO Energy team. Together, their hard work made this dividend increase possible. We are pleased to continue the dividend increase trend we started last year. This action reflects confidence in our ability to grow earnings given our outlooks for 2009 and beyond.”
The increase brings TECO Energy’s annual dividend rate to $0.80 per share, a two-cent increase. The dividend is payable May 28 to shareholders of record as of May 15.
TECO Energy, Inc. (NYSE: TE) is an energy-related holding company. Its principal subsidiary, Tampa Electric Company, is a regulated utility in Florida with both electric and gas divisions (Tampa Electric and Peoples Gas System). Other subsidiaries include TECO Coal, which owns and operates coal production facilities in Kentucky and Virginia, and TECO Guatemala, which is engaged in electric power generation and distribution and energy-related businesses in Guatemala.
Note: This release contains statements that could be deemed to be forward-looking statements, which are subject to the inherent uncertainties in predicting future results and conditions. Factors that could impact actual results and any future dividends are discussed under "Risk Factors" in TECO Energy, Inc.'s Annual Report on Form 10-K for the period ended Dec. 31, 2007.