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Southwest Gas Increases the Quarterly Common Stock Dividend and Declares Second Quarter 2010 Dividend

February 26, 2010 at 9:03 AM EST
LAS VEGAS, Feb 26, 2010 /PRNewswire via COMTEX/ -- The Board of Directors for Southwest Gas Corporation (NYSE: SWX) has increased the quarterly common stock dividend from $.2375 per share to $.25 per share and has declared the following second quarter cash dividend:

                    Common Stock

    Payable                           June 1, 2010
    Of Record                         May 17, 2010
    Dividend                          $.25 per share

The dividend equates to $1.00 per share, a five cent or approximately five percent increase, on an annualized basis. The Company has paid quarterly dividends continuously since going public in 1956, and has raised its dividend in each of the past four years. Chief Executive Officer Jeffrey Shaw noted, "Improved cash flows, a decrease in capital expenditures, and sensible cost controls have all combined to strengthen our financial position, despite the current economic downturn. Dividend increases are necessary to facilitate competitive and reasonable returns for our shareholders."

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