Vectren raises dividend for 57th consecutive year
The quarterly dividend will be increased from $0.40 to $0.42 per share. The quarterly dividend will be payable December 1, 2016, to shareholders of record at the close of business on November 15, 2016.
"Consistent with our long-term growth targets, today's announcement of a 5 percent dividend increase reflects management's and the Board's continued confidence in Vectren's ability to deliver consistent earnings and dividend growth," said Carl Chapman, chairman, president and CEO of Vectren Corporation.
Vectren, an energy holding company, has now raised its dividend for 57 consecutive years.
The new dividend yield is 3.5% at the current stock price of $48.25.