HOUSTON, Dec. 12, 2018 /PRNewswire/ -- CenterPoint Energy, Inc.'s (NYSE: CNP) board of directors today declared dividends on shares of its common stock, Series A Perpetual Preferred Stock and Series B Mandatory Convertible Preferred Stock for the fourth quarter of 2018.
Common Stock Dividend
The company's board of directors declared a regular quarterly cash dividend of $0.2875 per share of common stock payable on March 14, 2019, to shareholders of record as of the close of business on February 21, 2019. This represents approximately a 4 percent increase from the previous quarterly dividend of $0.2775, and if annualized, would equate to $1.15 per share.
"This is the fourteenth consecutive year that CenterPoint Energy has raised its dividend," said Scott M. Prochazka, president and chief executive officer of CenterPoint Energy. "This 4 percent increase demonstrates a strong commitment to our shareholders and shows the confidence the board of directors has in our ability to deliver sustainable earnings and cash flow."
Series A Preferred Stock Dividend
The company's board of directors declared a regular quarterly cash dividend of $32.1563 per share on its Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Stock payable on March 1, 2019, to shareholders of record as of the close of business on February 15, 2019.
Series B Preferred Stock Dividend
The company's board of directors declared a regular quarterly cash dividend of $17.5000 per share on its 7.00% Series B Mandatory Convertible Preferred Stock payable on March 1, 2019, to shareholders of record as of the close of business on February 15, 2019. This equates to $0.8750 per depositary share (NYSE: CNPPRB), each of which represents a 1/20th interest in a share of the Series B Mandatory Convertible Preferred Stock.
CenterPoint Energy, Inc., headquartered in Houston, Texas, is a domestic energy delivery company that includes electric transmission & distribution, natural gas distribution and energy services operations. The company serves more than five million metered customers primarily in Arkansas, Louisiana, Minnesota, Mississippi, Oklahoma and Texas. The company also owns 54.0 percent of the common units representing limited partner interests in Enable Midstream Partners, a publicly traded master limited partnership it jointly controls with OGE Energy Corp.Enable Midstream Partners owns, operates and develops natural gas and crude oil infrastructure assets. With more than 8,000 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, please visit www.CenterPointEnergy.com.
This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based upon assumptions of management which are believed to be reasonable at the time made and are subject to significant risks and uncertainties. Actual events and results may differ materially from those expressed or implied by these forward-looking statements. Any statements in this news release regarding future events, such as annualized dividends per share, future earnings and cash flow and any other statements that are not historical facts are forward-looking statements. Each forward-looking statement contained in this news release speaks only as of the date of this release.
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SOURCE CenterPoint Energy, Inc.