Columbia, SC, February 19, 2004 - SCANA Corporation (NYSE: SCG) announced that its board of directors, at a meeting held today, increased the quarterly cash dividend rate on the Company's common stock to 36 1/2 cents per share from 34 1/2 cents per share, an increase of 5.8 percent. The new dividend is payable April 1, 2004 to stockholders of record at the close of business on March 10, 2004 for the quarter ending March 31, 2004.
"Today's board action raises the indicated annual dividend rate on the Company's common stock to $1.46 per share from $1.38 per share," said Kevin Marsh, senior vice president and chief financial officer. "SCANA has increased the dividend rate on its common stock in 50 of the last 52 years."
The board of directors also declared the regular quarterly dividends on the following series of cumulative preferred stock of South Carolina Electric & Gas Company (SCE&G), SCANA's principal subsidiary, for the quarter ending March 31, 2004:
$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 A
- 57 1/2 cents per share on the 4.60 percent Series B
- 62 1/2 cents per share on the 5.00 percent Series
- 64 1/16 cents per share on the 5.125 percent Series
- 75 cents per share on the 6.00 percent Series
$100 Par Value:
- $1.63 per share on the 6.52 percent Series
Dividends on each series of SCE&G's cumulative preferred stock are also payable April 1, 2004 to holders of record on March 10, 2004. The 5.00 percent Series is the only series of cumulative preferred stock that is listed on the New York Stock Exchange - the trading symbol is "SAC Pr."
SCANA Corporation, headquartered in Columbia, SC, is an energy-based holding company principally engaged, through subsidiaries, in electric and natural gas utility operations, telecommunications and other energy-related businesses. Information about SCANA is available on the Company's web site at www.scana.com.