TECO Energy Announces Dividend Increase of 3.5%

The board of directors of TECO Energy Inc. (NYSE: TE) has approved an increase to the company's common stock dividend. A quarterly dividend of 22 cents per share was declared, payable Feb. 28 to shareholders of record as of Feb. 13.

On an annual basis, the new rate will be 88 cents per share – a 3-cent, or 3.5 percent, increase over the 85 cents per share paid in 2011.

“Our goal is to provide strong total shareholder returns, and we are achieving that with sustainable dividend growth,” said TECO Energy President and Chief Executive Officer John Ramil. “Our 2012 dividend payment marks 88 consecutive years of cash dividends to our shareholders.”