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Progress Energy Inc. Message Board

  • ellerbebil2 ellerbebil2 Feb 7, 2012 11:12 AM Flag


    Can anyone please explain the dividend situation to me. I lately received a small dividend and my broker says another one is due in March.
    Please explain.

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    • yes, board has declared .62 normal quarterly dividend payable mid-March.
      A little more alarming to me was the big miss in earnings and revenue. The winter has been warm, but with a .91 smackdown on Friday...it worries me. Plus having to give away a LOT just to try and get regulatory approval for the merger....Does anyone else have the jitters?
      I was excited about the merger to begin with, but now I wonder.
      I've had pgn since 1993 and seen ups and downs, but this feels a little different.

      • 1 Reply to lcannon1949
      • kbjb@bellsouth.net kbjb Feb 20, 2012 1:33 PM Flag

        I feel that we had a good run up in price due to the merger and now that the merger has been put on hold it caused a few people to get bummed out and decide to take some profit. Most utilities have been treading water recently. If it was only PGN I would be concerned. I'll hang on to PGN even if the merger doesn't happen. Looking to get most of Friday's loss back on Tuesday.

    • kbjb@bellsouth.net kbjb Feb 19, 2012 9:13 AM Flag


      It appears .62 to be paid 3/16/12

    • kbjb@bellsouth.net kbjb Feb 8, 2012 5:32 PM Flag

      Hope your broker is right. Based on very little info from PGN, dividends seem to be anybody's guess.

    • Progress Energy's board
      of directors declared a partial dividend of 25.9 cents per share on
      outstanding shares of Progress Energy's common stock. The divi dend is payable
      Jan. 9, 2012, to Progress Energy shareholders of record at the close of business
      on Dec. 28, 2011.

      The board of directors declared the partial dividend in order to align Progress
      Energy's dividend payment schedule with that of Duke Energy (NYSE: DUK). The
      partial dividend is based on Progress Energy's normal quarterly dividend of 62
      cents per share, pro-rated for the difference between Progress Energy's most
      recent quarterly dividend record date of Oct. 11, 2011 and Duke Energy's most
      recent record date of Nov. 18, 2011.

      The alignment comes in anticipation of the completion of the
      previously-announced merger of the two companies. The companies are working
      toward a closing date for the merger of Jan. 1, 2012, but the final closing date
      will ultimately be determined by the schedule of regulatory approvals.

      Duke Energy has advised Progress Energy that, subject to the approval of Duke
      Energy's board of directo rs, Duke Energy's first-quarter dividend record date is
      anticipated to be Feb. 17, 2012. If the merger is completed before this date,
      shareholders of Progress Energy would be eligible to participate in all of Duke
      Energy's 2012 regular quarterly dividends (assuming that such former Progress
      Energy shareholders continue to hold their shares of Duke Energy common stock
      received in the merger through the record dates applicable to the payment of
      such dividends). If the merger is completed on or after the record date for Duke
      Energy's first-quarter 2012 dividend, Progress Energy will communicate
      additional information regarding its future dividend plans.


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