TECO Energy increases quarterly dividend
TAMPA, May 5, 2010
TECO Energy, Inc. (NYSE:TE) announced today that its Board of Directors has approved an increase to the company’s quarterly dividend. The dividend will increase to 20.5 cents per share from 20 cents per share. The dividend is payable May 28 to shareholders of record as of May 14.
The increase brings TECO Energy’s annual dividend rate to $0.82 per share, a two-cent, or 2.5%, increase.
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 resume growing the dividend after the economic downturn and difficult financial markets in 2009. This action reflects confidence in our earnings growth outlook.”
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.