WASHINGTON--(BUSINESS WIRE)-- The Board of Directors of WGL Holdings, Inc. (NYSE:WGL), the parent company of Washington Gas Light Company (Washington Gas), on January 31, 2017, voted to increase the annualized dividend on its common stock to $2.04 per share from $1.95 per share. The Board of Directors also declared a regular quarterly dividend of $0.51 per share of common stock. The quarterly dividend is payable May 1, 2017 to shareholders of record on April 10, 2017.
"I am pleased to announce a 9-cent increase in our dividend to an annual rate of $2.04 per share," said Terry D. McCallister, Chairman and Chief Executive Officer of WGL Holdings, Inc. "The 5% increase reflects a dedication to delivering sustainable dividend growth for investors and a firm commitment to our strategic vision. Today represents 41 consecutive years that we have raised the cash dividend on our common stock."
The company has one of the longest dividend payment records on the New York Stock Exchange with 166 years of dividend payments to shareholders.
Dividends on the utility's preferred stock also are payable May 1, 2017, to shareholders of record as of April 10, 2017.
Class of Serial
Preferred Stock Dividend Per Share
$ 4.25 Series $ 1.0625
$ 4.80 Series $ 1.20
$ 5.00 Series $ 1.25
WGL (NYSE: WGL), headquartered in Washington, D.C., is a leading source for clean, efficient and diverse energy solutions. With activities and assets across the U.S., WGL consists of Washington Gas, WGL Energy, WGL Midstream and Hampshire Gas. WGL provides natural gas, electricity, green power and energy services, including generation, storage, transportation, distribution, supply and efficiency. Our calling as a company is to make energy surprisingly easy for our employees, our community and all our customers. Whether you are a homeowner or renter, small business or multinational corporation, state and local or federal agency, WGL is here to provide Energy Answers. Ask Us. For more information, visit us at www.wgl.com.
This news release and other statements by us include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to the amount of, and future payment of, dividends, the outlook for earnings, revenues and other future financial business performance or strategies and expectations. Forward-looking statements are typically identified by words such as, but not limited to, "estimates," "expects," "anticipates," "intends," "believes," "plans," and similar expressions, or future or conditional verbs such as "will," "should," "would," and "could." Although we believe such forward-looking statements are based on reasonable assumptions, we cannot give assurance that every objective will be achieved. Forward-looking statements speak only as of today, and we assume no duty to update them. Factors that could cause actual results to differ materially from those expressed or implied include, but are not limited to, general economic conditions and the factors discussed under the "Risk Factors" heading in our most recent annual report on Form 10-K and other documents that we have filed with, or furnished to, the U.S. Securities and Exchange Commission.
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WGL Holdings, Inc.
Bernie Tylor, 202-624-6778
Douglas Bonawitz, 202-624-6129