U.S. Gas & Electric, Inc. (“USG&E”), a leading provider of natural gas and electricity to residential and small commercial customers in a growing number of states, announced today that its board of directors declared a $4.0 million dividend, to be distributed to its shareholders, for the second consecutive quarter.
“It has been extremely satisfying to build and lead a very talented team in a highly competitive industry, grow rapidly and declare dividends to our shareholders,” said Doug Marcille, President and CEO of USG&E. “Thanks to MVC Capital, Inc. (NYSE: MVC), our majority shareholder, my team for making these results possible, and to our loyal shareholders and customers who have supported us.”The amount and specific timing of any future dividends paid will be determined by USG&E’s board of directors each quarter and must be permissible under its gas and electric supply credit documentation. ABOUT U.S. GAS & ELECTRIC U.S. Gas & Electric, its subsidiaries and family of companies (“USG&E”) is a leading retail energy supplier to commercial and residential customers in Connecticut, Illinois, Indiana, Kentucky, Maryland, Massachusetts, Michigan, New Jersey, New York, Ohio, and Pennsylvania. USG&E provides energy to customers with wide ranges of energy usage patterns and requirements and gives them the benefit of being a part of a large wholesale buying pool. The company relies on their market knowledge, internal efficiencies, and core capabilities to provide customers with the best possible pricing plans for the energy they provide. To date, USG&E has saved customers over $41 million on their natural gas and electricity supply. For more information, visit www.USGandE.com or contact Doug Marcille, President & CEO at (305) 947-7880.