Progress Energy board increases dividend

Progress Energy board increases dividend

There are 11 comments on the Asheville Citizen-Times story from Dec 13, 2007, titled Progress Energy board increases dividend. In it, Asheville Citizen-Times reports that:

RALEIGH Utility company Progress Energy Inc. said Wednesday its board increased its quarterly dividend by half a cent to 61.5 cents per share.

Join the discussion below, or Read more at Asheville Citizen-Times.

Jugtown

United States

#1 Dec 13, 2007
How about a little going back to the customer

“"We have come too far, ”

Since: Apr 07

Corinth, Texas

#2 Dec 13, 2007
Jugtown wrote:
How about a little going back to the customer
Buy some stock! If you can't afford to buy stock directly the get into a good mutual fund and have part invested in untilities. That way you don't have to beg for the crums that you would get if they did "give" a little back to the customer. Then take the part of the return from the mutual fund and invest in the utility of choice or Progressive Energy if that is your choice.
a haff a scent

Greenville, SC

#3 Dec 13, 2007
Great!
Ticker must have 500,000 shares
so he/she/it will get 250,000
more pennies per year.
At a qualified dividend rate of
15 % tax (1040 Ay) sounds like a good deal.

“"We have come too far, ”

Since: Apr 07

Corinth, Texas

#4 Dec 13, 2007
a haff a scent wrote:
Great!
Ticker must have 500,000 shares
so he/she/it will get 250,000
more pennies per year.
At a qualified dividend rate of
15 % tax (1040 Ay) sounds like a good deal.
Not that many yet, but I'm working on it. You bought yours yet or just want to whine because someone was smart enough to start investing in utilities etc 40 years ago.

Since: Aug 07

Hickory, NC

#5 Dec 13, 2007
Ticker wrote:
<quoted text>
Not that many yet, but I'm working on it. You bought yours yet or just want to whine because someone was smart enough to start investing in utilities etc 40 years ago.
As we are about the same age, I have to wonder how many times I was told to plan for the future and invest a little here and a little there. Some listen; some don't. Familiar with the story of the little Red Hen?

Since: Aug 07

Hickory, NC

#6 Dec 13, 2007
The Little Red Hen found some seed and tried to get the rest of the barnyard to help her. No, said the pig, cow, and horse.
She tried to get help for cultivation. No said the pig, cow, and horse.
Help with watering. No from the above.
Help with harvesting. No from the above.
Help with grinding, and baking. No, No, No.
The Hen and her chicks ate the bread and didn't share.
Racism, capitalist fascist, exploiter, "tax her bread they all cried", greedy profiteer, anti-social elitist, not protecting globalism and the environment, and the barnyard congress taxed the little red hen and took all her seeds and what they didn't eat, they gave to the other critters coming from across the river.
The Little Red Hen moved and the pig, cow, and horse starved to death (no universal Health Care).

“Resist the Invasion!”

Since: Feb 07

Nebo, NC

#7 Dec 13, 2007
G-hogg,

I may be mistaken, but I thought that Progress Energy was comprised mainly of the rural electric cooperatives in this state; our cooperative, Rutherford EMC, is defineitely a memeber. As such, the customers are also the "shareholders" and are (if I am not mistaken) entitled to a share of the dividends.

Perhaps this somewhat collectivist arrangement offends you, but those of us who are served by EMCs don't really have any choice in the matter except to move. That being the case, after all these years of paying Rutherford EMC (and French Broad EMC for years before them) I would like to see some of these "dividends" which I have been assured are part of the "deal".

I not going to hold my breath, however ...

Jeff Dreibus

Since: Aug 07

Hickory, NC

#8 Dec 13, 2007
2manytaxesandlaws wrote:
G-hogg,
I may be mistaken, but I thought that Progress Energy was comprised mainly of the rural electric cooperatives in this state; our cooperative, Rutherford EMC, is defineitely a memeber. As such, the customers are also the "shareholders" and are (if I am not mistaken) entitled to a share of the dividends.
Perhaps this somewhat collectivist arrangement offends you, but those of us who are served by EMCs don't really have any choice in the matter except to move. That being the case, after all these years of paying Rutherford EMC (and French Broad EMC for years before them) I would like to see some of these "dividends" which I have been assured are part of the "deal".
I not going to hold my breath, however ...
Jeff Dreibus
I don't know how any of that works but I did buy into mutual funds as Ticker suggested and it was a squeeze sometime to do it. I've never been on a cooperative that I know of, although I have always had CP&L and now Progress Energy. Seemed to me the question was dividends and who deserves them.
You can correct me on this because I sure don't know, but I thought Cooperative dividends were paid by keeping the cost of electricity low.

“Resist the Invasion!”

Since: Feb 07

Nebo, NC

#9 Dec 13, 2007
G-hogg,

You may be correct. I was under the impression that if the cooperative had funds remaining at the end of the fiscal year, it was supposed to divest those to the customers/"owners".

I suppose that would go hand-in-hand with keeping operating expenses down, but what real incentive is there to contian costs under such a system? We can theoretically vote upon EMC fiscal policies, but most of us don't -- and, in reality, I imagine that the votes are largely stage-managed and are held solely for the sake of appearances ...

In other words: it's not too different from the way in which the corporate and governmental bodies operate.

Jeff Dreibus

“"We have come too far, ”

Since: Apr 07

Corinth, Texas

#10 Dec 13, 2007
Jeff and G-hogg. I have been on a Co-op electric in Georgia and there we actually voted on the issue of raising rates or not at one point in time. Co-op's buy their power from some source unless they are fortunate enough to have a power source of their own. Most don't but those that do often sell their excess to companies such as Progress and CP%L. In my case we bought from Georgia Power and they had raised rates a couple of times but yet our co-op had maintained ours at a lower rate for several years but needed to actually raise the rate inorder to continue growth and maintence of the co-op. That is how most co-ops work that I have been around.

I know in WNC there was CP%L, Progress and Duke energy and no co-ops in any of the areas that I lived in. You took who ever served your area. Here in Texas I had the choice of three (3) companies to choose from and all offered a variety of rate planes. I went with TXU but it seems they were always giving us a "break" and sending us a $25 credit for 3 months out of the year but sticking us with a rate that was ridiculous. They claimed the rate was based on an average per day use such as 12.5 cents but many days it was costing 15 cents and it pushed the prime rate to 13.8 cents per kwh. I switched to Reliant and pay a flat 10cents per KWH or can buy totally green , wind produced electric for a flat rate of 13 cent per kwh. That is to come down to 11 cents next year with the new wind farm going on line in early 08. I may switch to that plan if it is viable enough and there are enough spaces to buy into.
Fortunately all of our utilities are pretty much like that and we can pick and choose which ever one suits our needs the best. Not so when I lived in NC or WNC. Maybe one day it will get there.

Anyhow investment in some manner, no matter how hard the squeeze, is the way to go. It dang sure is paying off now and many times I thought of dropping out and taking the money and spending it on something useless. Glad I stuck with it. A lot of folks will be wishing they had down the road. I started with $25 a month and man sometimes it was tough to have to do without that "special" something that you wanted. Today folks waste that much or more on latte's or cold ones after work and then wonder why they don't have anything extra. Follow the advise of the Red Hen or better yet the ant. Ants are creatures of little strength,yet they store up their food in the summer; Proverbs 30:26

“Resist the Invasion!”

Since: Feb 07

Nebo, NC

#11 Dec 14, 2007
Thanks for the clarification, Ticker.

A bit off-topic (okay -- WAY off topic), but please tell me: would a move to Texas help me to keep my own sanity for a few more years than I would if I remained in North Carolina?

Feel free to start a new thread to answer this question; I know that lots of North Carolinians are starting to "talk about Texas" these days, so it would probably be a lively, informative discussion ...

Jeff Dreibus

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