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 www.swgas.com.
SOURCE Southwest Gas Corporation
CONTACT:
Media,
Cynthia Messina,
+1-702-876-7132,
or
Shareholders,
Ken
Kenny,
+1-702-876-7237,
both of Southwest Gas Corporation
Web Site: http://www.swgas.com
