Piedmont Natural Gas Increases Dividend by 3.4% to $0.30

The Board of Directors of Piedmont Natural Gas

today approved an increase in the Company's dividend for the 34th consecutive year. At its regularly scheduled meeting, the Board declared a quarterly dividend on Common Stock of 30 cents per share, a 3.4 percent increase over the previous quarterly dividend of 29 cents per share. The increased dividend is payable April 13, 2012, to shareholders of record at the close of business on March 23, 2012. Also, at today's Annual Meeting of Shareholders, four members of the Board of Directors were re-elected: E. James Burton, John W. Harris, Aubrey B. Harwell, Jr., and David E. Shi.