TECO Energy raises dividend for 2016
TAMPA, February 3, 2016
The board of directors of TECO Energy Inc. (NYSE:TE) has declared a quarterly dividend of 23 cents per share, or 92 cents per share on an annual basis – an increase of 2.2 percent. The dividend is payable Feb. 29 to shareholders of record as of Feb. 12.
"I am proud of TECO Energy's 92 consecutive years of cash dividends," said John Ramil, president and chief executive officer of TECO Energy. "We are pleased we can continue to reward our shareholders for their many years of loyalty."
TECO Energy Inc. (NYSE: TE) is an energy-related holding company with regulated electric and gas utilities in Florida and New Mexico. Tampa Electric serves more than 715,000 customers in West Central Florida; Peoples Gas System serves more than 360,000 customers across Florida; and New Mexico Gas Co. serves more than 515,000 customers across New Mexico.
Note: This press release contains forward-looking statements, which are subject to the inherent uncertainties in predicting future results and conditions. Actual results may differ materially from those forecasted. The forecasted results are based on the company's current expectations and assumptions, and the company does not undertake to update that information or any other information contained in this press release, except as may be required by law. Any future dividends, including those in 2016, are subject to the decision of the board of directors at the time of declaration. Such decisions will be dependent upon many factors, including TECO Energy's financial outlook and the factors that could impact its actual results. Factors that could impact future dividend payments include: whether the company closes the merger with Emera Inc. and the timing of such closing; regulatory actions by federal, state or local authorities; the ability to successfully implement the integration plans for New Mexico Gas Company, Inc. and generate the expected financial results ; unexpected capital needs or unanticipated reductions in cash flow that affect liquidity; the ability to access the capital and credit markets when required; general economic conditions affecting energy sales at the utility companies; economic conditions, both national and international, affecting the Florida and New Mexico economies; weather variations and changes in customer energy usage patterns affecting sales and operating costs at the utilities and the effect of weather conditions on energy consumption; the effect of extreme weather conditions or hurricanes; general operating conditions; input commodity prices affecting costs at all of the operating companies; natural gas demand at the utilities; and the ability of TECO Energy's subsidiaries to operate equipment without undue accidents, breakdowns or failures. Additional information is contained under "Risk Factors" in TECO Energy Inc.'s Annual Report on Form 10-K for the period ended Dec. 31, 2014, and as updated in subsequent SEC filings.