- CNP declares regular common stock dividend of $0.2900, Series A Preferred Stock Dividend of $30.6250 and Series B Preferred Stock dividend of $17.5000
- Annual meeting of shareholders set for Friday, April 24, 2020, 9 a.m. CDT
HOUSTON, Feb. 3, 2020 /PRNewswire/ -- CenterPoint Energy, Inc.'s (NYSE: CNP) board of directors today declared dividends on shares of its common stock, Series A Perpetual Preferred Stock and Series B Mandatory Convertible Preferred Stock.
Common Stock Dividend
The company's board of directors declared a regular quarterly cash dividend of $0.2900 per share of common stock payable on March 12, 2020 to shareholders of record as of the close of business on Feb. 20, 2020. This quarterly dividend, if annualized, would equate to $1.16 per share.
"This marks the 15th consecutive year we have increased our common stock dividend," said Scott Prochazka, president and chief executive officer of CenterPoint Energy. "The board's decision today demonstrates CenterPoint Energy's continued commitment to dividend growth, while also driving shareholder value by capitalizing on its significant rate base investment opportunities in its regulated utilities. Central to this commitment of dividend and regulated utilities earnings growth is our continued focus on strengthening our balance sheet following the Vectren merger and the divestiture of the non-rate regulated CenterPoint Energy Infrastructure Services business segment."
Series A Preferred Stock Dividend
The company's board of directors declared a regular semiannual cash dividend of $30.6250 per share on its Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Stock payable on March 2, 2020 to shareholders of record as of the close of business on Feb. 14, 2020.
Series B Preferred Stock Dividend
The company's board of directors declared a regular quarterly cash dividend of $17.5000 per share on its 7.00% Series B Mandatory Convertible Preferred Stock payable on March 2, 2020 to shareholders of record as of the close of business on Feb. 15, 2020. As Feb. 15, 2020 falls on a Saturday, the effective record date for the dividend will be the close of business on Feb. 14, 2020. This equates to $0.8750 per depositary share (NYSE: CNPPRB), each of which represents a 1/20th interest in a share of the Series B Mandatory Convertible Preferred Stock.
The company also announced that its 2020 annual meeting of shareholders will be held on Friday, April 24, 2020, at 9 a.m. CDT in the CenterPoint Energy Tower auditorium, 1111 Louisiana Street, Houston, Texas. Shareholders who hold shares of CenterPoint Energy common stock as of Feb. 28, 2020, will receive notice of the meeting and will be eligible to vote.
Headquartered in Houston, Texas, CenterPoint Energy, Inc. (NYSE: CNP) is an energy delivery company with regulated utility businesses in eight states and a competitive energy businesses footprint in nearly 40 states. Through its electric transmission & distribution, power generation and natural gas distribution businesses, the company serves more than 7 million metered customers in Arkansas, Indiana, Louisiana, Minnesota, Mississippi, Ohio, Oklahoma and Texas. CenterPoint Energy's competitive energy businesses include natural gas marketing and energy-related services; energy efficiency, sustainability and infrastructure modernization solutions; and construction and repair services for pipeline systems, primarily natural gas. The company also owns 53.7 percent of the common units representing limited partner interests in Enable Midstream Partners, LP, a publicly traded master limited partnership that owns, operates and develops strategically located natural gas and crude oil infrastructure assets. With approximately 14,000 employees and nearly $35 billion in assets, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit CenterPointEnergy.com.
This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based upon assumptions of management which are believed to be reasonable at the time made and are subject to significant risks and uncertainties. Actual events and results may differ materially from those expressed or implied by these forward-looking statements. Any statements in this news release regarding future events, such as annualized dividends per share, dividend and utility earnings growth, actions with respect to CenterPoint Energy's balance sheet, capital investments and rate base growth, the anticipated divestiture of the infrastructure services business segment and any other statements that are not historical facts are forward-looking statements. Each forward-looking statement contained in this news release speaks only as of the date of this release.
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SOURCE CenterPoint Energy, Inc.