WGL Holdings, Inc. and Washington Gas Light Company Declare Dividends
06 Junio 2018 - 3:15PM
Business Wire
WGL Holdings, Inc. (NYSE: WGL) declared a regular quarterly
dividend of $0.515 per share of common stock, subject to proration
as described below.
The dividend is payable to holders of record at the earlier of
the close of business on the day upon which the merger of WGL
Holdings, Inc. (WGL Holdings) and AltaGas Ltd. becomes effective
(Effective Time) and July 10, 2018. If the Effective Time occurs
prior to July 10, 2018, the dividend will be paid no later than
five business days following the Effective Time. Otherwise, the
dividend will be payable on August 1, 2018 in accordance with WGL
Holdings’ usual dividend schedule.
In the event that the Effective Time occurs before July 10,
2018, the amount per common share of this dividend will be prorated
to reflect the actual number of days from the record date for
payment of the last quarterly dividend paid by WGL Holdings prior
to the Effective Time multiplied by $0.00566 (calculated by
dividing $0.515 by 91). The prorated dividend is intended to cover
the period between April 11, 2018 and completion of the merger.
Washington Gas Light Company, a utility subsidiary of WGL
Holdings (Washington Gas), also declared regular dividends on all
classes of its preferred stock as follows:
Class of Serial
Preferred
Stock
Dividend Per
Share
$ 4.25 Series $1.0625 $ 4.80 Series $1.20 $ 5.00 Series $1.25
Dividends on the utility's preferred stock are payable August 1,
2018, to shareholders of record as of July 10, 2018. It is
currently expected that the preferred stock of Washington Gas will
remain outstanding following the merger and, thus, dividends to
preferred stockholders will be unaffected by the merger.
About WGL
WGL (NYSE: WGL), headquartered in Washington, D.C., is a leading
source for clean, efficient and diverse energy solutions. With
activities and assets across the U.S., WGL consists of Washington
Gas, WGL Energy, WGL Midstream and Hampshire Gas. WGL provides
natural gas, electricity, green power and energy services,
including generation, storage, transportation, distribution, supply
and efficiency. Our calling as a company is to make energy
surprisingly easy for our employees, our community and all our
customers. Whether you are a homeowner or renter, small business or
multinational corporation, state and local or federal agency, WGL
is here to provide Energy Answers. Ask Us. For more information,
visit us at www.wgl.com.
Forward-Looking
Statements
This news release and other statements by WGL Holdings include
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995 with respect to the
outlook for earnings, revenues, dividends and other future
financial business performance, strategies, financing plans, WGL
Holdings’ proposed merger with AltaGas Ltd., Washington Gas
preferred stock and other expectations. Forward-looking statements
are typically identified by words such as, but are not limited to,
"estimates," "expects," "anticipates," "intends," "believes,"
"plans," and similar expressions, or future or conditional verbs
such as "will," "should," "would," and "could." Although WGL
Holdings believes such forward-looking statements are based on
reasonable assumptions, it cannot give assurance that every
objective will be achieved. Forward-looking statements speak only
as of the date of this release, and WGL Holdings assumes no duty to
update them. Factors that could cause actual results to differ
materially from those expressed or implied include, but are not
limited to, general economic conditions, the possibility that the
closing of the proposed merger with AltaGas Ltd. may not occur or
may be delayed; litigation related to the proposed AltaGas Ltd.
transaction or limitations or restrictions imposed by regulatory
authorities that may delay or negatively impact the proposed
transaction; the potential loss of customers, employees or business
partners as a result of the transaction and the factors discussed
under the "Risk Factors" heading in WGL Holdings’ most recent
annual report on Form 10-K and quarterly reports on Form 10-Q and
other documents that WGL Holdings has filed with, or furnished to,
the U.S. Securities and Exchange Commission.
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version on businesswire.com: https://www.businesswire.com/news/home/20180606006274/en/
WGL Holdings, Inc.News Media:Bernie Tylor,
202-624-6778orFinancial Community:Douglas Bonawitz,
202-624-6129
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