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Southwest Gas Increases the Quarterly Common Stock Dividend and Declares Second Quarter 2009 Dividend

February 27, 2009 at 9:02 AM EST

LAS VEGAS, Feb. 27 /PRNewswire-FirstCall/ -- The Board of Directors for Southwest Gas Corporation (NYSE: SWX) has increased the quarterly common stock dividend from $.225 per share to $.2375 per share and has declared the following second quarter cash dividend:

                                 Common Stock
                     Payable                   June 1, 2009
                     Of Record                 May 15, 2009
                     Dividend                  $.2375 per share

The dividend equates to 95 cents per share, a five cent or approximately six percent increase, on an annualized basis. The Company has paid quarterly dividends continuously since going public in 1956 and has raised its dividend three consecutive years. The dividend increase reflects the continued progress Southwest has made in strengthening its cash flows and capital structure. Chief Executive Officer Jeffrey Shaw noted, "While economic turmoil at the national level has clouded the forecast for near-term customer growth, the financial condition of Southwest is solid. In addition to improved cash flows and capital structure, our financing needs have decreased and our liquidity remains strong. The dividend increase is an important ingredient to facilitate our continued favorable access to the capital markets to fund ongoing infrastructure needs."

About Southwest Gas

Southwest Gas Corporation provides natural gas service to approximately 1.8 million customers in Arizona, Nevada, and California. For more information about Southwest Gas, please visit

SOURCE Southwest Gas Corporation

Cynthia Messina,
Ken Kenny,
both of Southwest Gas Corporation

Web Site: