Directors of UGI Corporation (NYSE: UGI), a holding company with utility, propane marketing and energy services subsidiaries, approved an increase in the quarterly dividend of 4% to $0.27 a share on the company’s common stock. The dividend is payable July 1, 2012 to shareholders of record as of June 15, 2012.
Lon R. Greenberg, chairman and chief executive officer of UGI, said, “We are very proud of UGI’s tradition of paying a common dividend for 128 consecutive years and of increasing the dividend for 25 consecutive years. We are pleased to once again deliver on our commitments to UGI’s shareholders despite experiencing the effects of one of the warmest winters in the Company’s history. Our long term track record of paying and increasing our dividend, while retaining a substantial amount of cash to reinvest in UGI’s businesses, demonstrates the merits of UGI as a growth and income investment.”
UGI is a distributor and marketer of energy products and services. Through subsidiaries, UGI operates natural gas and electric utilities in Pennsylvania, distributes propane both domestically and internationally, manages midstream energy and electric generation assets in Pennsylvania, and engages in energy marketing in the Mid-Atlantic region. UGI, through subsidiaries, is the sole General Partner and owns 26% of AmeriGas Partners, L.P. (NYSE:APU), the nation's largest retail propane distributor.
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