Published:
Cleco Corp. Wins EEI Award for Consistent Financial Success
Award in Small Market Capitalization Category of Shareholder-Owned Electric Utilities
Cleco Corp. (NYSE: CNL) claimed this year's
Edison Electric Institute (EEI) Index Award for exceptional shareholder
return in the small market capitalization category. The company showed a
76.3 percent return for the five-year period ending Sept. 30, 2009.
"This award is a testament to the skill and commitment level of our
employees, who remained focused on achieving strategic goals," said Cleco
President and CEO Mike Madison, who accepted the award at the 44th EEI
Financial Conference Nov. 2 in Florida. "One major strategic goal is the
construction of the largest power generator in our company's history, which
at its completion will double our rate base. This will allow us to continue
to provide outstanding returns to our shareholders and to reduce our
average customer's bill."
The EEI Index is a peer group index that values total return on member
electric utilities, providing a benchmark for long-term financial
performance.
According to EEI president Tom Kuhn, "Not only is Cleco's five-year
achievement impressive, but the company's unique track record of five
consecutive years with positive returns also sends a message of consistency
to investors." The EEI is an association of US shareholder-owned electric
companies which represents approximately 70 percent of the US electric
power industry.
Cleco Corp. is a regional energy company headquartered in Pineville, La.
It operates a regulated electric utility company that serves 276,000
customers across Louisiana. Cleco also operates a wholesale energy
business with approximately 1,350 megawatts of nameplate generating
capacity. For more information about Cleco, visit www.cleco.com.
Copyright © 2009, MarketWire
Copyright © 2009, NewsBlaze,
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