EL PASO, Texas--(BUSINESS WIRE)--
The Board of Directors of El Paso Electric (NYSE:EE) has declared a
regular quarterly cash dividend on its common stock of $0.295 per share.
The dividend was declared on May 28, 2015 and is payable on June 30,
2015, to shareholders of record on June 16, 2015. At the new rate, the
indicated annualized cash dividend would be $1.18 per share for the
following year, up from $1.12 per share paid in the last four quarters.
El Paso Electric is a regional electric utility providing generation,
transmission and distribution service to approximately 400,000 retail
and wholesale customers in a 10,000 square mile area of the Rio Grande
valley in west Texas and southern New Mexico. El Paso Electric has a net
dependable generating capability of 2,010 MW.
Safe Harbor
This news release includes statements that may constitute
forward-looking statements made pursuant to the safe harbor provisions
of the Private Securities Litigation Reform Act of 1995. This
information may involve risks and uncertainties that could cause actual
results to differ materially from such forward-looking statements.
Factors that could cause or contribute to such differences include, but
are not limited to: (i) increased prices for fuel and purchased power
and the possibility that regulators may not permit EE to pass through
all such increased costs to customers or to recover previously incurred
fuel costs in rates; (ii) recovery of capital investments and operating
costs through rates in Texas and New Mexico; (iii) uncertainties and
instability in the general economy and the resulting impact on EE's
sales and profitability; (iv) changes in customers' demand for
electricity as a result of energy efficiency initiatives and emerging
competing services and technologies; (v) unanticipated increased costs
associated with scheduled and unscheduled outages of generating plant;
(vi) the size of our construction program and our ability to complete
construction on budget; (vii) potential delays in our construction
schedule due to legal challenges or other reasons; (viii) costs at Palo
Verde; (ix) deregulation and competition in the electric utility
industry; (x) possible increased costs of compliance with environmental
or other laws, regulations and policies; (xi) possible income tax and
interest payments as a result of audit adjustments proposed by the IRS
or state taxing authorities; (xii) uncertainties and instability in the
financial markets and the resulting impact on EE's ability to access the
capital and credit markets; (xiii) possible physical or cyber-attacks,
intrusions or other catastrophic events; and (xiv) other factors
detailed by EE in its public filings with the Securities and Exchange
Commission. EE's filings are available from the Securities and Exchange
Commission or may be obtained through EE's website, http://www.epelectric.com.
Any such forward-looking statement is qualified by reference to these
risks and factors. EE cautions that these risks and factors are not
exclusive. EE does not undertake to update any forward-looking statement
that may be made from time to time by or on behalf of EE except as
required by law.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150528006722/en/
El Paso Electric
Public Relations:
Eddie Gutierrez,
915-543-5763
eduardo.gutierrez@epelectric.com
or
Investor
Relations:
Lisa Budtke, 915-543-5947
lisa.budtke@epelectric.com
or
Richard
Gonzalez, 915-543-2236
richard.gonzalez@epelectric.com
Source: El Paso Electric
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