« Back

Cleco increases its quarterly dividend by 11.6 percent

PINEVILLE, La., Oct. 28, 2011 - Cleco Corp. (NYSE: CNL) today announced that its board of directors declared a quarterly dividend of $0.3125 per share on its common stock for the third quarter of 2011. This is an 11.6 percent increase in the current quarterly dividend of $0.28 per share. The new dividend level on an annualized basis totals $1.25 per share.

"This increase in the dividend reflects our confidence in the earnings power and financial strength of Cleco," said Bruce Williamson, president and CEO of Cleco Corp.  "Cleco has strong earnings, positive cash flow and unique, well-positioned assets to maintain reliable service to customers and deliver competitive returns to shareholders."

This is Cleco's third dividend increase since 2010.  Cleco has paid dividends to its shareholders since 1935.  

Below is a summary of the third-quarter dividend payment, as declared:

Class of Stock     Dividend Declared     Record Date     Payment Date    
Common Stock     $0.3125     Nov. 7, 2011     Nov. 15, 2011    

Cleco Corp. is a regional energy company headquartered in Pineville, La. Cleco owns a regulated electric utility company, Cleco Power LLC, which owns 10 generating units with a total nameplate capacity of 2,572 megawatts and serves approximately 279,000 customers in Louisiana through its retail business and 10 communities across Louisiana and Mississippi through wholesale power contracts.  Cleco also owns a wholesale energy business, Cleco Midstream Resources LLC, which owns two natural gas-fired generating units with a total nameplate capacity of 775 megawatts.  For more information about Cleco, visit www.cleco.com.

Analyst Contact:
Russell Davis
(318) 484-7501

Investor Contact:
Rodney Hamilton
(318) 484-7593

Media Contact:
Fran Phoenix
(318) 484-7467

Press Releases  

  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
  • 2010