MINNEAPOLIS--(BUSINESS WIRE)--
The Xcel Energy Inc. (NYSE: XEL) board of directors today raised the
quarterly dividend on the company’s common stock from 27 cents per share
to 28 cents per share, which is equivalent to an annual rate of $1.12
per share. The board declared the second quarter common stock dividend
payable July 20, 2013, to shareholders of record on June 20, 2013.
“A growing dividend contributes to the total return opportunity we offer
investors,” said Ben Fowke, chairman, president, and CEO. “Our objective
is to grow the dividend 2-4 percent annually, and this year we are
pleased to announce that we have increased the dividend 3.7 percent.”
In other action, the board elected Judith M. Poferl as vice president,
Corporate Secretary, effective May 23, 2013, succeeding Cathy J. Hart
who is retiring after 13 years in the position.
“Cathy has been an outstanding corporate secretary for the company, and
we wish her well in her retirement,” said Fowke. “Judy brings a wealth
of experience to the position and will continue our focus on serving our
stakeholders well.”
Poferl has been president and CEO of Xcel Energy Inc. subsidiary
Northern States Power Company-Minnesota since September 2009. Poferl has
more than 25 years of experience in energy and regulation, including a
variety of positions since joining the Company in 1998.
David M. Sparby, senior vice president and Group President for Xcel
Energy Services Company Inc., will assume the additional role of
president and CEO of NSP-Minnesota. Sparby, who has more than 30 years
experience in the energy industry, will continue to oversee Xcel
Energy’s four utility operating companies, with a particular focus on
NSP-Minnesota.
“Xcel Energy has the organization and team to provide excellent customer
service at competitive prices while delivering strong financial
results,” Fowke said. “We are well positioned to continue delivering
value to our customers and shareholders.”
Xcel Energy is a major U.S. electricity and natural gas company, with
operations in 8 Western and Midwestern states. Xcel Energy provides a
comprehensive portfolio of energy-related products and services to 3.4
million electricity customers and 1.9 million natural gas customers
through its regulated operating companies. Company headquarters are
located in Minneapolis. More information is available at www.xcelenergy.com.
This information is not given in connection with any sale or offer for
sale or offer to buy any securities.
This news release contains "forward-looking statements" within the
meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements are not
statements of historical facts, but instead represent the current
expectations of Xcel Energy Inc. regarding future operating results and
other future events, which are subject to certain risks, uncertainties
and assumptions. Forward-looking statements in this news release
include, among others, statements concerning future dividend payments.
In some cases, forward-looking statements may be identified in this
document by the words “anticipate,” “believe,” “estimate,” “expect,”
“intend,” “may,” “objective,” “outlook,” “plan,” “project,” “possible,”
“potential,” “should” and similar expressions. Actual results may vary
materially. Forward-looking statements speak only as of the date they
are made, and we do not undertake any obligation to update them to
reflect changes that occur after that date. Factors that could cause
actual results to differ materially include, but are not limited to:
general economic conditions, including inflation rates, monetary
fluctuations and their impact on capital expenditures and the ability of
Xcel Energy Inc. and its subsidiaries (collectively, Xcel Energy) to
obtain financing on favorable terms; business conditions in the energy
industry, including the risk of a slow down in the U.S. economy or delay
in growth recovery; trade, fiscal, taxation and environmental policies
in areas where Xcel Energy has a financial interest; customer business
conditions; actions of credit rating agencies; competitive factors,
including the extent and timing of the entry of additional competition
in the markets served by Xcel Energy Inc. and its subsidiaries; unusual
weather; effects of geopolitical events, including war and acts of
terrorism; state, federal and foreign legislative and regulatory
initiatives that affect cost and investment recovery, have an impact on
rates or have an impact on asset operation or ownership or impose
environmental compliance conditions; structures that affect the speed
and degree to which competition enters the electric and natural gas
markets; costs and other effects of legal and administrative
proceedings, settlements, investigations and claims; actions by
regulatory bodies impacting our nuclear operations, including those
affecting costs, operations or the approval of requests pending before
the Nuclear Regulatory Commission; financial or regulatory accounting
policies imposed by regulatory bodies; availability or cost of capital;
employee work force factors; and the other risk factors listed from time
to time by Xcel Energy in reports filed with the Securities and Exchange
Commission (SEC), including Risk Factors in Item 1A and Exhibit 99.01 of
Xcel Energy Inc.’s Annual Report on Form 10-K for the year ended Dec.
31, 2012 and Quarterly Report on Form 10-Q for the quarter ended Mar.
31, 2013.
Xcel Energy, Minneapolis
Shareholder Services
Tara Heine,
612-215-5391
or
Paul Johnson, Vice President, Investor
Relations
and Business Development, 612-215-4535
or
Xcel
Energy Media Relations Representatives, 612-215-5300
Source: Xcel Energy