Vectren hikes dividend for 56th consecutive year
Vectren will increase its quarterly dividend from $0.38 to $0.40 per share, marking 56 straight years of higher dividends.
"Last November, we updated our long-term financial targets, including an earnings growth target of 5-7% annually. At that same time, we indicated that the annual dividend increase would grow at that same pace," said Carl L. Chapman, chairman, president and CEO of Vectren Corporation. "Today's announcement of a 5.3 percent dividend increase reflects management's and the Board's continued confidence and assurance in Vectren's ability to deliver consistent earnings and dividend growth."
This marks the 56th 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.
The indicated dividend yield voor Vectren Corporation is 3.5% based on Thursday's closing price of $45.38 per share.
Source: Vectren Corporation