GREAT FALLS, Mont. (PRNewswire-FirstCall) ENERGY WEST Incorporated (Nasdaq: EWST – News), a natural gas, propane and energy marketing company serving the Rocky Mountain area, today announced that the Board of Directors of ENERGY WEST on November 21, 2002 declared a dividend in the amount of 13.5 cents per share. The dividend will be paid on January 3, 2003, to shareholders of record on December 20, 2002. This dividend represents the 170th consecutive dividend paid by the Company. Dividends have been paid continuously since 1944 and have been raised each year since 1977. Over the past five years, dividends have grown at an annual compound rate of 4.3 percent.
At its Annual Meeting held the same day, ENERGY WEST Shareholders elected eight directors to annual terms. New to the board are the following two directors: E. W. (Gene) Argo, who is currently President and General Manager of Midwest Energy, Inc., an electric cooperative in Hays, Kansas, and Terry M. Palmer of Denver, Colorado, who has been a partner in the accounting firm of Ernst Young LLP since November 1979. These directors replace Mr. Tom McGowen who has retired from the Board after twenty-four years of service as a member of the Board, and Mr. Dean South who has accepted employment with a Company subsidiary. Mr. Argo and Mr. Palmer join G. Montgomery Mitchell, Andrew Davidson, Richard J. Schulte, George Ruff, David Flitner and Edward J. Bernica who are returning directors for ENERGY WEST.
Details concerning the company’s financial statements are available from the Security and Exchange Commission November 2002 10-Q filing, which can be viewed at our web site at www.ewst.com .