U.S. Gas & Electric Increases Dividend, Reports Customer Growth

U.S. Gas & Electric, Inc. has declared an increased quarterly dividend of $5.0 million, to be distributed to its shareholders.

The company said that the dividend is, "attributable to the Company's underlying operating performance which has enabled it to consistently generate strong cash flows and pay down debt."

USG&E has grown to more than 285,000 customers to date in 2013, and expects nearly 330,000 customers by the end of 2013.

USG&E anticipates EBITDA to exceed $38 million in 2013, and forecasts gross profit of over $78 million.

USG&E had paid a $4 million dividend in the prior three consecutive quarters. The amount and specific timing of any future dividends paid will be determined by USG&E's board of directors each quarter and must be permissible under its gas and electric supply credit documentation.

In 2013, USG&E has been honored as the bronze Company of the Year by the Stevie Awards 2013 American Business Awards and as Business of the Year by the South Florida Business Journal.