ST. LOUIS, Oct. 14, 2016 /PRNewswire/ -- The board of directors of Ameren Corporation (NYSE: AEE) today declared a quarterly cash dividend on its common stock of 44 cents per share, a 3.5 percent increase from the prior quarterly cash dividend of 42.5 cents per share, resulting in an annualized equivalent dividend rate of $1.76 per share. The previous annualized equivalent dividend rate was $1.70 per share.
"We are pleased to announce an increase in our fourth quarter 2016 dividend," said Warner L. Baxter, chairman, president and chief executive officer of Ameren Corporation. "This action reflects confidence in the outlook for our businesses and our ability to achieve our long-term earnings and rate base growth plans. Future dividend increases will be driven by earnings growth, cash flows and other business conditions."
The common share dividend is payable Dec. 30, 2016, to shareholders of record at the close of business on Dec. 7, 2016.
Separately, the board of directors of Union Electric Company, doing business as Ameren Missouri, declared regular quarterly cash dividends on all classes of Union Electric Company's preferred stock. These preferred stock dividends are payable Feb. 15, 2017, to shareholders of record at the close of business on Jan. 20, 2017.
In addition, the board of directors of Ameren Illinois Company declared regular quarterly cash dividends on all classes of Ameren Illinois Company's preferred stock. These preferred stock dividends are payable Feb. 1, 2017, to shareholders of record at the close of business on Jan. 9, 2017.
St. Louis-based Ameren Corporation powers the quality of life for 2.4 million electric customers and more than 900,000 natural gas customers in a 64,000-square-mile area through its Ameren Missouri and Ameren Illinois rate-regulated utility subsidiaries. Ameren Illinois provides electric delivery and transmission service as well as natural gas delivery service while Ameren Missouri provides vertically integrated electric service, with generating capacity of 10,200 megawatts, and natural gas delivery service. Ameren Transmission Company of Illinois develops regional electric transmission projects. Follow the company on Twitter @AmerenCorp. For more information, visit Ameren.com.
Statements in this release not based on historical facts are considered "forward-looking" and, accordingly, involve risks and uncertainties that could cause actual results to differ materially from those discussed. Although such forward-looking statements have been made in good faith and are based on reasonable assumptions, there is no assurance that the expected results will be achieved. These statements include (without limitation) statements as to future expectations, beliefs, plans, strategies, objectives, events, conditions and financial performance. In connection with the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, we are providing this cautionary statement to identify important factors that could cause actual results to differ materially from those anticipated. In addition to factors discussed in this release, Ameren's Annual Report on Form 10-K for the year ended December 31, 2015, and its other reports filed with the Securities and Exchange Commission under the Securities Exchange Act of 1934 contain a list of factors and a discussion of risks which could cause actual results to differ materially from management expectations suggested in such "forward-looking" statements. All "forward-looking" statements included in this release are based upon information presently available, and Ameren, except to the extent required by the federal securities laws, undertakes no obligation to update or revise publicly any "forward-looking" statements to reflect new information or current events.
SOURCE Ameren Corporation