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News Releases
05/20/2004
Xcel Energy Inc. Board Increases Common Dividend 10.7%
DENVER - The Board of Directors of Xcel Energy today voted to raise the quarterly dividend on the company’s common stock from 18.75 cents per share to 20.75 cents per share, which is equivalent to an annual rate of 83 cents per share. The Board declared second quarter dividends payable July 20, 2004 to shareholders of record on July 2, 2004.
“The Board decision today is a strong vote of confidence that the company is on a solid financial footing and is executing on a business plan that will continue to deliver additional value to our shareholders,” said Wayne H. Brunetti, chairman and chief executive officer. “It is our goal to deliver financial results that will enable the board to consider annual dividend increases that appropriately balance, among other things, our ability to grow earnings, our plans to invest significant additional capital into the business, our goal to improve our credit rating and our desire to provide our shareholders with an appropriate return on their investment in the company.”
“I’m also pleased to announce that, as of the July 20, 2004 common dividend payment, the company will pay the transaction fee that has been charged on the reinvestment of common dividends from registered shares,” Brunetti said. “With the elimination of the fee shareholders will now be able to put all of their dividends to work increasing their share holdings.”
CONTACT: Xcel Energy, Minneapolis
Shareholder Services
Dianne Perry, 612-215-4534
Investor Relations
Paul Johnson, 612-215-4535
Xcel Energy Media Representatives, 303-294-2300
This information is not given in connection with any sale or offer for sale or offer to buy any securities.
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