Columbia Pipeline Group (CPGX) Initiates Qtr. Dividend at 12.5c/Share; Yields 1.8%
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Columbia Pipeline Group (NYSE: CPGX) has initiated a quarterly dividend of $0.125 per share, or $0.5 annualized.
The dividend will be payable on August 20, 2015, to stockholders of record on July 31, 2015, with an ex-dividend date of July 29, 2015.
The annual yield on the dividend is 1.8 percent.
This will be the first dividend payment made by CPG following the company's separation from NiSource Inc. (NYSE: NI), which was completed on July 1, 2015, and is consistent with the company's intention to increase the combined dividend announced on May 12.
"Today's announcement delivers on one of our core separation commitments as an independent pipeline, midstream and storage company," CPG Chairman and Chief Executive Officer Robert C. Skaggs, Jr. said. "As we outlined in our May 14 webcast, we have a clear line of sight on a robust project backlog that is built to deliver enhanced shareholder value through consistent EBITDA and dividend growth. Through 2020, we expect a 15 percent annual average growth rate for our dividend."
For a dividend history and other dividend-related data on Columbia Pipeline Group (CPGX) click here.
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