Duke Energy Increases Quarterly Dividend

Duke Energy (NYSE:DUK) on Tuesday announced a quarterly cash dividend of 25 cents per share, up 2% from its earlier dividend. The dividend is payable on September 16, 2011, to the shareholders at the close of business on August 12, 2011. ^[1] Duke Energy is one of the largest electric utilities in the U.S. along with American Electric Power Company (NYSE:AEP), Exelon Energy Corp, Allegheny Energy (NYSE:AYE) and Progress Energy (NYSE:PGN). Duke Energy has approximately 35,000 megawatts of electric generating capacity in the Carolinas and the Midwest, as well as natural gas distribution services in Ohio and Kentucky.

This dividend represents an annual yield of about 5.3% based on the company’s closing price of $18.80 per share on Tuesday.

Duke’s Chairman, President and CEO James E. Rogers said:

Today’s announcement is further proof we are successfully carrying out our strategy to consistently grow the dividend and provide solid returns for our investors…

…Today’s action also takes into account our significant reinvestment in the business and the importance of maintaining a strong balance sheet.

Duke has consistently paid a quarterly cash dividend on its common stock for the past 85 years.

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1. Duke Energy Increases Quarterly Dividend, Duke Energy [↩]