EVANSVILLE, Ind., Nov. 02, 2017 (GLOBE NEWSWIRE) -- Vectren Corporation (NYSE:VVC) announced the Board of Directors has declared a quarterly dividend of $0.45 per share, up 7.1 percent from the current quarterly dividend of $0.42 per share. This equates to an annualized dividend of $1.80 per share, up from the current annualized dividend of $1.68 per share. The quarterly dividend will be payable December 1, 2017, to shareholders of record at the close of business on November 15, 2017.
“In line with the 6 to 8 percent long-term growth target we announced in February of this year, today’s increase reflects management’s and the Board’s continued confidence in Vectren’s ability to deliver consistent earnings and dividend growth into the future,” said Carl Chapman, chairman, president and CEO of Vectren Corporation. “This increase, the largest since Vectren was formed in 2000, is the outcome of our continued successful execution of key strategic initiatives established in November 2014.”
This marks the 58th consecutive year Vectren and its predecessor companies have increased the annual dividends paid. “We recognize the value of our long history of dividend growth and the role it plays in delivering above average shareholder returns. We are proud to be a part of a select group of companies that have achieved this level of long-term commitment to our shareholders,” added Chapman.
Vectren Corporation (NYSE:VVC) is an energy holding company headquartered in Evansville, Ind. Vectren’s energy delivery subsidiaries provide gas and/or electricity to more than 1 million customers in adjoining service territories that cover nearly two-thirds of Indiana and about 20 percent of Ohio, primarily in the west central area. Vectren’s nonutility subsidiaries and affiliates currently offer energy-related products and services to customers throughout the U.S. These include infrastructure services and energy services. To learn more about Vectren, visit www.vectren.com.