ST. LOUIS, Oct. 10, 2014 /PRNewswire/ -- The board of directors of Ameren Corporation (NYSE: AEE) today declared a quarterly cash dividend on its common stock of 41 cents per share, a 2.5 percent increase from the prior quarterly cash dividend of 40 cents per share, resulting in an annualized equivalent dividend rate of $1.64 per share. The previous annualized equivalent dividend rate was $1.60 per share.
"We are pleased to announce an increase in our fourth quarter 2014 dividend," said Warner L. Baxter, Ameren Chairman, President and Chief Executive Officer. "This action reflects our confidence in the outlook for our regulated businesses and the increased financial stability resulting from the disposition of the merchant power business. We continue to expect compound annual earnings growth of 7 percent to 10 percent from 2013 to 2018. Future dividend increases will be driven by earnings growth, cash flows and other business conditions."
The common share dividend is payable Dec. 31, 2014, to shareholders of record at the close of business on Dec. 10, 2014.
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, 2015, to shareholders of record at the close of business on Jan. 16, 2015.
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. 2, 2015, to shareholders of record at the close of business on Jan. 12, 2015.
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 10,300 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.
This press release contains certain forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially. For these statements, Ameren claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Ameren strongly recommends that you become familiar with the specific risks and uncertainties outlined under the Risk Factors section in our Annual Report on Form 10-K for the year ended December 31, 2013 and in our Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2014.
SOURCE Ameren Corporation