Cleco Corporation Declares Regular Common and Preferred Dividends.Business Editors PINEVILLE, La.--(BUSINESS WIRE)--July 19, 2002 The Board of Directors of Cleco Corporation (NYSE NYSE See: New York Stock Exchange , PCX (1) A bitmapped graphics file format that handles monochrome, 2-bit, 4-bit, 8-bit and 24-bit color and uses RLE to achieve compression ratios of approximately 1.1:1 to 1.5:1. Images with large blocks of solid colors compress best under the RLE method. See PC Paintbrush. : CNL CNL CityNightLine (German Rail) CNL Cancel CNL Clinical Nurse Leader Cnl Colonel CNL Center for Naval Leadership CNL Compensated Neutron Log (oil industry) ) today declared regular quarterly dividends on the Company's common stock and preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. . Following is a summary of dividend payments, as declared:
Dividend Record Payment
Class of Stock Declared Date Date
-------------- -------- ---- ----
Common Stock $0.225 July 29, 2002 August 15, 2002
4.50% Preferred Stock $1.125 August 15, 2002 September 1, 2002
Dividends were also declared on preferred stock held in the Company's Employee Stock Ownership Plan. The Company has a dividend reinvestment plan Dividend Reinvestment Plan (DRP) Plan which provides for automatic reinvestment of shareholder dividends in more shares of a company's stock, often without commissions. Some plans provide for the purchase of additional shares at a discount to market price. which allows dividends on its common and preferred stock to be reinvested in additional shares of common stock at market price without commission costs. Cleco Corporation is a regional energy services company headquartered in Pineville, La. It operates a nonregulated midstream energy business that has approximately 2,100 megawatts of generating capacity. Cleco also operates a regulated electric utility company that serves more than 250,000 customers across Louisiana. For more information about Cleco, visit www.cleco.com. |
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