Cayce, SC, April 21, 2011 … SCANA Corporation (NYSE: SCG) announced that the Company’s 2011 Annual Meeting of Shareholders was held today in Columbia, South Carolina, with Chairman of the Board and Chief Executive Officer William B. Timmerman presiding.
During the business portion of the meeting, shareholders re-elected the following Class III Directors to SCANA’s Board – Bill L. Amick, Sharon A. Decker, D. Maybank Hagood and William B. Timmerman. Terms of the Class III Directors will expire at the Annual Meeting in 2014. As previously announced, Mr. Timmerman will retire from the Board effective November 30, 2011. Additionally, Kevin B. Marsh was elected to serve as a Class II Director to serve until the Annual Meeting in 2013. Mr. Marsh was appointed as President and Chief Operating Officer of SCANA in January and will assume responsibilities as Chairman of the Board and Chief Executive Officer when Mr. Timmerman retires in November.
In other business, shareholders approved the following – an amendment to the Director Compensation and Deferral Plan increasing by 150,000 the number of shares that may be reserved under the plan, an amendment to the Articles of Incorporation to increase the number of authorized shares of common stock from 150 million to 200 million, and the appointment of Deloitte & Touche LLP as SCANA’s independent registered public accounting firm to audit the Company’s 2011 financial statements.
Shareholders also voted on two advisory (non-binding) proposals. First, of the shares that were voted, approximately 92% approved the compensation paid to the Company’s named executive officers as disclosed in the proxy statement. Second, on the frequency of the executive compensation vote, approximately 50% of the shares that were voted favored an advisory vote every three years, while approximately 44% and 3% favored a vote every one year and two years, respectively. The remaining 3% abstained. The Board of Directors will consider the second advisory vote in determining how frequently the company will include an advisory shareholder vote on the compensation of executives in its proxy materials.
Immediately following the Annual Meeting, SCANA’s Board of Directors met and declared the regular quarterly dividend of 48½ cents per share on the Company’s common stock for the quarter ending June 30, 2011. The dividend is payable July 1, 2011 to shareholders of record at the close of business on June 10, 2011.
SCANA Corporation, a Fortune 500 company headquartered in Cayce, 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 website at www.scana.com.