Kevin Marsh
Kevin Marsh
Kevin Marshis the Editor of the BBC College of Journalism...
approved board cash completed completion consistent county electric financial flow following generating goal improved improving included increase increasing june lake million moves percent position program providing ratio recorded reflects results target today toward value
The 7.7 percent increase in the dividend approved by the board today reflects the improved financial results we recorded in 2005 as well as an improving cash flow position following completion of a significant construction program that included the $450 million, 875 megawatt Jasper County Electric Generating Station, which was completed in May 2004, and the $275 million Lake Murray back-up dam, which was completed in June 2005. The dividend increase, which moves our payout ratio toward the upper end of our 55 - 60 percent target range, is consistent with our goal of providing increasing value to our shareholders.