Cleco Corp. declares regular common and preferred dividends
-
Common stock dividend increased 12 percent
PINEVILLE, La. - The board of directors of Cleco Corp. (NYSE: CNL) today declared regular quarterly dividends on the company's common stock and preferred stock. Following is a summary of dividend payments, as declared:
|
Class of Stock |
Dividend Declared |
Record Date |
Payment Date |
|
Common Stock |
$0.28 |
May 9, 2011 |
May 16, 2011 |
|
4.5% Preferred Stock |
$1.125 |
May 16, 2011 |
June 1, 2011 |
The declaration of the $0.28 quarterly dividend on common stock represents a 12 percent increase in the current quarterly dividend of $0.25. Cleco has paid dividends since 1935.
Cleco has a dividend reinvestment plan which allows dividends on its common and preferred stock to be reinvested in additional shares of common stock at market price. Brokerage commissions and administrative fees are incurred on dividend purchases.