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Energy West, Incorporated Raises Monthly Dividend to $0.04 Per Share
Energy West, Incorporated Raises Monthly Dividend to $0.04 Per Share
GREAT FALLS, Mont., May 8 /PRNewswire-FirstCall/ -- Energy West,
Incorporated (Nasdaq: EWST) announced today that they have raised their
monthly dividend from $0.036 to $0.04 per share, an 11.1% increase, starting
with the company's June dividend. Since 2003, this is the 9th increase in the
Energy West dividend. Rising from no dividends in 2003 to a current annual
rate of $0.48/share, this dividend move is in line with Energy West's
continued operations improvements, new customer additions and earnings growth
over the last several years. The dividend is payable June 30 to shareholders
of record on June 16.
Mr. Richard Osborne, Energy West's Chairman and CEO, indicated, "Our Board
takes its dividend decision and responsibility to shareholders seriously.
When making the dividend decision, we consider our earnings, payout ratio and
financial condition of the company. This dividend increase indicates we are
confident in the future of Energy West and is a statement to our shareholders
in that regard."
Energy West expects to release its earnings for the third quarter of
fiscal 2008 on May 15th.
About Energy West
Energy West, Incorporated distributes and sells natural gas to end-use
residential, commercial, and industrial customers. It distributes
approximately 23 billion cubic feet of natural gas to approximately 36,000
customers through regulated utilities operating inMontana,Wyoming,North
Carolina andMaine. The company markets approximately 1.6 billion cubic feet
of natural gas to commercial and industrial customers inMontana andWyoming
on an unregulated basis. The company also has a majority ownership interest in
162 natural gas producing wells and gas gathering assets. In addition, the
company owns the Shoshone interstate and the Glacier gathering pipelines
located inMontana andWyoming. The company'sMontana public utility was
originally incorporated in 1909 and is headquartered inGreat Falls, Montana.
Safe Harbor Regarding Forward-Looking Statements
The company is including the following cautionary statement in this
release to make applicable and to take advantage of the safe harbor provisions
of the Private Securities Litigation Reform Act of 1995 for any
forward-looking statements made by, or on behalf of, Energy West.
Forward-looking statements are all statements other than statements of
historical fact, including, without limitation, those that are identified by
the use of the words "anticipates," "estimates," "expects," "intends,"
"plans," "predicts," "believes" and similar expressions. Such statements are
inherently subject to a variety of risks and uncertainties that could cause
actual results to differ materially from those expressed. Factors that may
affect forward-looking statements and the company's business generally include
but are not limited to the company's continued ability to make dividend
payments, the company's ability to implement its business plan, fluctuating
energy commodity prices, the possibility that regulators may not permit the
company to pass through all of its increased costs to its customers, changes
in the utility regulatory environment, wholesale and retail competition,
weather conditions, litigation risks, risks associated with contracts
accounted for as derivatives and various other matters, many of which are
beyond the company's control, the risk factors and cautionary statements made
in the company's public filings with the Securities and Exchange Commission,
and other factors that the company is currently unable to identify or
quantify, but may exist in the future. Energy West expressly undertakes no
obligation to update or revise any forward-looking statement contained herein
to reflect any change in Energy West's expectations with regard thereto or any
change in events, conditions or circumstances on which any such statement is
based.
For additional information or clarification regarding Energy West, please
contact: James W. Garrett, President and Chief Operating Officer, at
(440) 205-1987.
The company's toll-free number is (800) 570-5688. The company's web site
is http://www.energywest.com. The company's address is 1 First Avenue South,
Great Falls, Montana 59401.
SOURCE Energy West, Incorporated
Copyright © 2008, PRNewswire
Copyright © 2008, NewsBlaze,
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