Green Mountain Power Increases Quarterly Dividend.COLCHESTER, Vt. -- Directors of Green Mountain Power Corporation (NYSE NYSE See: New York Stock Exchange :GMP GMP (guanosine monophosphate): see guanine. ) announced today a quarterly cash dividend of $0.28 per share on the utility's Common Stock, payable March 31, 2006 to holders of record at the close of business on March 10, 2006. The new indicated annual dividend rate is $1.12, an increase of 12 cents over the previous indicated annual rate of $1.00. "The Company believes that, in light of the general practice in the utility industry, it should pay out 50 percent to 70 percent of anticipated earnings in dividends. Over the course of the next five years, we intend to increase our dividend in the first quarter of each year in a measured, consistent manner to the middle of this payout pay·out n. 1. The act or an instance of paying out. 2. A percentage of corporate earnings that is paid as dividends to shareholders. range, which we will sustain so long as our financial health seems assured. As earnings grow, of course, the opportunity for higher dividend increases is presented," said Christopher L. Dutton, President and Chief Executive Officer of Green Mountain Power. Green Mountain Power Corporation (www.greenmountainpower.biz biz n. Informal Business. biz Noun Informal business Noun 1. ) is a Vermont-based energy services company serving 90,000 electric customers. For further information, please contact Dorothy Schnure, Manager of Corporate Communications Corporate communications is the process of facilitating information and knowledge exchanges with internal and key external groups and individuals that have a direct relationship with an enterprise. , at 802-655-8418. |
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