SAN FRANCISCO, Aug. 27, 2019 (GLOBE NEWSWIRE) -- Southwest Gas Holdings, Inc. (SWX), through its subsidiaries, engages in the business of purchasing, distributing, and transporting natural gas, and providing infrastructure services across North America. For more information, visit www.swgas.com.
- Dividend per share growth: approximately 8.35% for the last five years
- Total compound annual shareholder return: 18.18% for the 10-year period ended June 30, 2019
- 1.7% customer growth for the 12 months ended June 30, 2019 (Southwest)
- Serving over two million customers (Southwest)
- 2019-2021 capital expenditures estimated at $2.1 billion (Southwest)
- Projecting 11% annual rate base growth over the period 2019-2021 (Southwest)
- One of North America’s largest providers of utility and energy infrastructure services (Centuri)
- Continued growing trend with record financial results in 2018 (Centuri)
Advisor Access spoke to President and Chief Executive Officer John P. Hester about Southwest Gas Holdings, Inc.’s future focus on growth and sustainability.
Advisor Access: Can you provide us with a little background on Southwest Gas Holdings, Inc.?
John P. Hester: SWX has two business segments, Southwest and Centuri. Southwest was incorporated in March 1931 and provides regulated natural gas delivery services to customers in portions of Arizona, California, and Nevada. In 1996, we added NPL Construction Co. (now Centuri)…
AA: What is the economic outlook for SWX?
JPH: A positive economic outlook in the southwestern U.S., including strong employment, robust consumer spending, and increasing personal income, has created growth opportunities that are positioning SWX for a solid and sustainable future…
AA: Can you expand on the accomplishments of the two primary business segments?
JPH: Yes. Southwest benefited this past year from a robust job market, which drew thousands of new residents to the major counties where we operate…This spurred the addition of more than 32,000 new customers in 2018, and the expectations to add 35,000 customers in 2019 and 37,000 customers both in 2020 and 2021…
AA: How are you meeting customer expectations?
JPH: Earning and maintaining our customers’ trust is key to sustaining a strong future at Southwest and Centuri…
AA: John, can you elaborate on the company’s view on safety?
JPH: Yes. SWX takes proactive efforts, both internally and externally, to ensure safety is our highest priority…
AA: Does Southwest work with regulators to align its stakeholders’ needs?
JPH: SWX has an 8.35% compounded annual per share dividend growth rate over the last five years. Our target payout ratio range is 55% to 65% of earnings…We are currently at the lower end of our target payout range…
AA: How does SWX value social responsibility, environmental stewardship, and corporate governance?
JPH: Southwest’s deep roots in the communities we serve are part of our enduring legacy of valuing stewardship and giving back. In 2018, Southwest employees gave $2 million in annual contributions to local charitable organizations.
AA: So, John, can you summarize what investors or potential investors should take away from our discussion?
JPH: Southwest Gas Holdings is focused on the future as we execute company strategies…
Read the complete answers to these questions and the full, in-depth interview with Southwest Gas Holdings’ President and Chief Executive Officer John P. Hester HERE.
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Southwest Gas Holdings has paid Advisor Access a fee to distribute this email. John P. Hester had final approval of the content and is wholly responsible for the validity of the statements and opinions.