CAYCE, S.C., Feb. 16, 2017
CAYCE, S.C., Feb. 16, 2017 /PRNewswire/ -- SCANA Corporation (NYSE: SCG) announced that its Board of Directors, at a meeting held today, raised the quarterly cash dividend on the Company's common stock to 61 ¼ cents per share from 57 ½ cents per share, an increase of 6.5 percent. This action increases the indicated annual dividend rate to $2.45 per share from $2.30 per share. The new dividend is payable April 1, 2017 to shareholders of record at the close of business on March 10, 2017. Additionally, the Board of Directors approved an increase to the upper band of SCANA's dividend payout policy to 65% from 60%, for a new payout policy of 55% to 65%.
"Reflecting on our results for 2016, our confidence in our growth strategy and long-term outlook, as well as our commitment to providing competitive returns to our investors, we increased the quarterly dividend as well as our payout ratio policy," said Jimmy Addison, Executive Vice President and Chief Financial Officer. "We continue to anticipate growing our dividend fairly consistent with earnings growth while staying within our new payout policy of 55%-65%."
SCANA Corporation, headquartered in Cayce, SC, is an energy-based holding company principally engaged, through subsidiaries, in electric and natural gas utility operations and other energy-related businesses. Information about SCANA and its businesses is available on the company's website at www.scana.com.
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SOURCE SCANA Corporation