The Board of Directors of Pike Electric Corporation (NYSE: PIKE) today declared a special dividend of $1.00 per share payable on December 21, 2012 to all stockholders of record as of December 14, 2012.
“We reported very strong financial results in our fiscal first quarter. Our performance in the September quarter was driven by a combination of double-digit organic growth, the contribution from our most recent acquisition, and $50 million in storm-related revenue,” said Eric Pike, Chairman and Chief Executive Officer. “In anticipation of another strong performance in our fiscal second quarter, I am pleased to report the board’s decision to payout a special dividend before December 31.”
Pike will utilize the revolving credit facility to fund the dividend. The Company anticipates positive cash flows from operating activities during the fiscal third quarter will be used to repay the debt.
About Pike Electric Corporation
Pike Electric Corporation is a leading provider of energy solutions to over 300 investor-owned, municipal and co-operative utilities in the United States. Our comprehensive services include facilities planning and siting, permitting, engineering, design, installation, maintenance and repair of electric and communication infrastructure, including renewable energy projects and storm-related services. Our common stock is traded on the New York Stock Exchange under the symbol PIKE. For more information, visit us online at
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