HomeNovember 12, 2014
Retail Supplier Parent Credits "Rapid Recovery" From Polar Vortex in Announcing Dividend
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The Board of Directors of Genie Energy Ltd., the parent of IDT Energy, has initiated payment of a quarterly dividend to holders of its Class A and Class B common stock and declared a dividend of $0.06 per share for the third quarter of 2014.
Notably, Genie Energy credited a "rapid recovery" from the polar vortex as allowing the company to pay the dividend.
Genie Energy's Chairman and CEO, Howard Jonas, said, "We were pleased by the Company's rapid recovery from the polar vortex. Given the resiliency of our retail business and balance sheet liquidity, we are in a strong position to return cash directly to our common stock holders."
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