Puget Energy announces special dividend in connection with merger

By Lisa Kerner

Charlotte, N.C., Jan. 22 - Puget Energy, Inc., parent company of Puget Sound Energy, Inc., declared a special pro rata common stock dividend of $0.00278 per share per day.

The dividend is contingent upon completion of Puget Holdings LLC's $7.4 billion acquisition of Puget Energy and Puget Sound Energy, a Bellevue, Wash., gas and electric utility company.

Puget Energy said that if the merger is completed on Feb. 6 as expected, the pro rata dividend will be $0.04448 per share.

The special dividend is in addition to Puget Energy's current quarterly dividend of $0.25 per share payable on Feb. 15, the company said. Record date for the quarterly dividend is the close of business on Jan. 21.

In October, Puget Holdings, a group of long-term infrastructure investors, announced it would buy Puget Energy for $30 per share.

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