Vectren raises dividend for 58th straight year

Vectren Corporation (VVC) will raise its quarterly dividend to $0.45 per share in the fourth quarter of 2017. This marks the 58th consecutive year of dividend increases by the utility holding company.

The increased dividend will be paid on December 1, 2017 to shareholders of record on November 15, 2017. The new dividend yield for VVC is 2.7%. Last year Vectren raised its dividend for the 57th consecutive year.

“In line with the 6 to 8 percent long-term growth target we announced in February of this year, today’s increase reflects management’s and the Board’s continued confidence in Vectren’s ability to deliver consistent earnings and dividend growth into the future,” said Carl Chapman, chairman, president and CEO of Vectren Corporation. “This increase, the largest since Vectren was formed in 2000, is the outcome of our continued successful execution of key strategic initiatives established in November 2014.”

Vectren stock has gaind 30 percent YTD and trades near all time highs

This marks the 58th consecutive year Vectren and its predecessor companies have increased the annual dividends paid. “We recognize the value of our long history of dividend growth and the role it plays in delivering above average shareholder returns. We are proud to be a part of a select group of companies that have achieved this level of long-term commitment to our shareholders,” added Chapman.

Vectren Corporation is an energy holding company. Vectren’s energy delivery subsidiaries provide gas and/or electricity to customers in Indiana and Ohio.