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SCANA CORPORATION REPORTS THIRD QUARTER EARNINGS, DECLARES REGULAR DIVIDENDS ON COMMON AND PREFERRED STOCKS

 SCANA CORPORATION REPORTS THIRD QUARTER EARNINGS, DECLARES REGULAR
 DIVIDENDS ON COMMON AND PREFERRED STOCKS
 COLUMBIA, S.C., Oct. 20 /PRNewswire/ -- SCANA Corporation (NYSE: SCG) today reported consolidated net income for the third quarter of 1992 of $39.6 million, or $.96 per share of common stock, down from $49.7 million, or $1.25 per share reported in the third quarter of 1991. William B. Timmerman, senior vice president and chief financial officer, attributed the lower earnings primarily to the recording of a reserve related to a court-ordered remand of a 1989 retail electric rate order, and also to higher operating expenses, depreciation expense and interest charges.
 During the quarter, the Company recorded a $9.5 million after-tax reserve, which includes interest, against third quarter earnings -- about 23 cents per share -- as a result of an August 31, 1992 ruling from the South Carolina Supreme Court. In its opinion, the Supreme Court found that the evidence in the record of a 1989 retail electric rate case for South Carolina Electric & Gas Company (SCE&G), SCANA's principal subsidiary, did not support a rate of return on common equity higher than 13.00 percent, and remanded the case to The Public Service Commission of South Carolina (PSC) for reconsideration of the allowed rate of return on common equity consistent with its opinion. The PSC's original order had granted SCE&G a 13.25 percent return on common equity. While the final amount, timing and resolution of this matter are unknown, SCE&G anticipates that it will be required to make a refund to electric customers to reflect rates based on a lower authorized return on common equity during the 3-year period 1989 through 1992. The recorded reserve reflects the impact on the Company's earnings should the PSC reduce the allowed rate of return on common equity to 13.00 percent.
 "In addition to the remand, SCANA continued to experience increases in non-fuel operating expenses, depreciation expense and interest charges during the third quarter," said Timmerman. "On a more positive note, despite slightly cooler summer temperatures, total kilowatt-hour sales of electricity were up 2.2 percent compared to the third quarter last year, reflecting continued customer growth in our service area."
 Consolidated net income for the twelve months ended September 30, 1992 was $113.8 million, or $2.78 per share compared to $132.6 millon, or $3.27 per share for the corresponding period last year. Earnings for the current twelve month period reflect the aforementioned 23 cents per share reserve against third quarter earnings.
 The Company also announced that its Board of Directors, at a meeting held today, declared the regular quarterly dividend of 67 cents per share on the Company's common stock for the quarter ending December 31, 1992. That dividend is payable January 1, 1993 to stockholders of record at the close of business on December 10, 1992.
 The Board of Directors also declared the regular quarterly dividends on the following series of SCE&G's cumulative preferred stock for the quarter ending December 31, 1992:
 $50 Par Value:
 56 1/4 cents per share on the 4.50 percent Series
 57 1/2 cents per share on the 4.60 percent Series
 57 1/2 cents per share on the 4.60 percent Series A
 57 1/2 cents per share on the 4.60 percent Series B
 62 1/2 cents per share on the 5 percent Series
 64 1/16 cents per share on the 5.125 percent Series
 75 cents per share on the 6 percent Series
 $1.09 per share on the 8.72 percent Series
 $1.175 per share on the 9.40 percent Series
 $100 Par Value:
 $1.925 per share on the 7.70 percent Series
 $2.03 per share on the 8.12 percent Series
 $2.10 per share on the 8.40 percent Series
 Dividends on the preferred stocks are also payable January 1, 1993 to holders of record on December 10, 1992. The 5 percent Series is listed on the New York Stock Exchange - the trading symbol is "SAC Pr." Comparative earnings for the 3 months and 12 months ended September 30, 1992 and 1991 are summarized in the following table:
 Consolidated Earnings Summary
 (000's except per share amounts)
 (Unaudited)
 3 Months Ended September 30,
 1992(A) 1991
 Total Operating Revenues $ 305,594 $ 309,837
 Net Income $ 39,643 $ 49,705
 Wgt. Avg. Common
 Shares Outstanding 41,290 39,882
 Earnings Per Wgt. Avg.
 Common Share $.96 $1.25
 12 Months Ended September 30,
 1992(A) 1991
 Total Operating Revenues $1,141,930 $1,142,833
 Net Income $ 113,751 $ 132,606
 Wgt. Avg. Common
 Shares Outstanding 40,891 40,504
 Earnings Per Wgt. Avg.
 Common Share $2.78 $3.27
 (A) Includes provision for rate refund in Total Operating Revenues of $12.6 million, before interest and income taxes; in net income of $9.5 million, net of interest and income taxes; and in earnings per weighted average common share of $.23.
 SCANA Corporation, headquartered in Columbia, SC, is a diversified holding company engaged, through subsidiaries, in regulated electric and natural gas utility businesses and other non-regulated businesses.
 -0- 10/20/92
 /CONTACT: H. John Winn, III, Manager Investor Relations & Shareholder Services, SCANA Corporation, 803-748-3240/
 (SCG) CO: SCANA Corporation; South Carolina Electric & Gas Company ST: South Carolina IN: UTI SU: ERN DIV


CM -- CH007 -- 2395 10/20/92 14:25 EDT
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Date:Oct 20, 1992
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