The company has also declared a quarterly cash dividend of $0.225 on Preferred 90 shares. This dividend is payable on May 1, 2009, to shareholders of record on April 17, 2009.
The company’s total return in 2008 was 3.7%. This represents a modest increase in stock price combined with dividends paid throughout the year. This compares to the returns on the S&P 500 Index and S&P 500 Utilities Index of –37% and –29%, respectively, for the year.
The company has paid dividends on its common stock each quarter since its founding in 1956 without interruption or reduction and has increased dividend payments for each of the last 39 years.
