Dividend for shareholders stays steady, NV Energy reports | NevadaAppeal.com
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Dividend for shareholders stays steady, NV Energy reports

Nevada Appeal Staff Report

NV Energy’s board of directors on Wednesday declared a cash dividend of 19 cents per share to shareholders of record as of June 4.

The dividend, which will be payable June 19, is the same as the previous quarterly dividend. It is up, however, from the 17 cents per share of the three quarters prior to that.

The declaration came in the aftermath of financial results for the first quarter of 2013, which were released last week. They showed net income for the three months ending March 31 was $21.5 million, up from $12.2 million in the same quarter a year earlier.

That translated to 9 cents of earnings per diluted share, up from a nickel per diluted share in the same quarter of 2012.

Key factors leading to the improved earnings were favorable weather, lower operations and maintenance expenses and decreased interest expenses, the company said.

“Results for the first quarter were in line with expectations,” said Michael Yackira, NVE president and chief executive officer.