Columbia, SC, February 19, 2009... SCANA Corporation (NYSE: SCG) announced that its board of directors, at a meeting held today, raised the quarterly cash dividend on the Company’s common stock to 47 cents per share from 46 cents per share, an increase of 2.0 percent. This action increases the indicated annual dividend rate to $1.88 per share from $1.84 per share. The Company has increased the annual dividend rate on its common stock in 55 of the last 57 years. The new dividend is payable April 1, 2009 to shareholders of record at the close of business on March 10, 2009.
The board of directors remains very positive about the future of our Company despite the current economy, and felt it important to convey that message to all shareholders. They also feel a degree of financial conservatism is prudent in light of current circumstances.
Additionally, the board 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, 2009:
$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 percent Series
64 1/16 cents per share on the 5.125 percent Series
75 cents per share on the 6 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, 2009 to holders of record on March 10, 2009. The 5 percent Series is the only series of cumulative preferred stock that is listed on the New York Stock Exchange - the trading symbol is “SCG Pr”.
SCANA Corporation, a Fortune 500 company headquartered in Columbia, SC, is an energy-based holding company principally engaged, through subsidiaries, in electric and natural gas utility operations and other energy-related businesses. Information about SCANA is available on the Company’s web site at www.scana.com.