Compensation Rises 6 Pct For CenterPoint's CEO

The AP's total pay calculations include executives' salary, bonus, incentives, perks, above-market returns on deferred compensation and the estimated value of stock options and awards granted during the year.

The calculations don't include changes in the present value of pension benefits, and they sometimes differ from the totals companies list in the summary compensation table of proxy statements filed with the Securities and Exchange Commission.

CenterPoint has scheduled its annual meeting April 23 in Houston where it will vote on a proposed long-term compensation plan and elect directors among other business.

Based in Houston, CenterPoint reported 2008 net income of $447 million, or $1.30 per share, from $399 million, or $1.17 per share in 2007. Revenue rose 18 percent to $11.32 billion.

The company also has estimated a lower profit for 2009, in the range of $1.05 to $1.15 a share. That included an anticipated non-cash pension expense increase of 16 cents per share.