SCANA Corp.'s quarterly cash dividend on the company’s common stock has risen to 61.25 cents per share from 57.5 cents per share, an increase of 6.5 percent.
This action increases the indicated annual dividend rate to $2.45 per share from $2.30 per share. The new dividend is payable April 1 to shareholders of record at the close of business on March 10.
“Reflecting on our results for 2016, our confidence in our growth strategy and long-term outlook, as well as our commitment to providing competitive returns to our investors, we increased the quarterly dividend as well as our payout ratio policy,” Jimmy Addison, executive vice president and chief financial officer, said. "We continue to anticipate growing our dividend fairly consistent with earnings growth while staying within our new payout policy of 55 to 65 percent."
Headquartered in Cayce, SCANA is an energy-based holding company.