ATLANTA, Ga., Feb. 1, 2002 — The Board of Directors of AGL Resources Inc. today declared a quarterly dividend of $0.27 cents per share on its common stock.
Payment will be made on March 1, 2002, to shareholders of record on February 15, 2002.
The dividend, which remains unchanged from the previous quarter, equates to $1.08 per share on an annualized basis. The January dividend will be the 217th consecutive dividend paid.
In other action, the board announced that Paula G. Rosput, president and chief executive officer of the company, was elected chairman of the board, effective February 1, 2002. Rosput succeeds Raymond D. Riddle as chairman, who has served as the non-executive chairman since August 1, 2000. Riddle has been a member of the board since 1978.
Commenting on Riddle’s tenure as chairman, Otis A. Brumby, Jr., chair of the nominations and governance committee of the Board of Directors, said, “Raymond has provided exemplary and valuable leadership to the company during his tenure as chairman. He has been a valuable steward to Paula and to the organization, and deserves great recognition for his role in the success of the corporation today.”
Brumby added “Given the great accomplishments made under Paula’s leadership to date, the Board is confident that we will continue to carry on these successes as Paula assumes the chairman’s role.”
Riddle will remain chair of the Board’s executive and audit committees.
Rosput was named president and chief executive officer of AGL Resources on August 1. She joined the company as president of Atlanta Gas Light Company in 1998. Before joining AGL Resources, Rosput served as president of Duke Energy North America, president of PanEnergy Power Services and senior vice president of Pacific Gas Transmission.
AGL Resources Inc. is a regional holding company for energy and infrastructure related businesses in the Southeast. The company is the second largest natural gas-only distribution company in the United States and serves more than 1.8 million customers throughout Georgia, Chattanooga, Tennessee, and southeastern Virginia. AGL Resources also is engaged through subsidiaries and partnerships in other businesses, including asset management and trading, retail energy marketing and telecommunications infrastructure. For more information, visit www.aglresources.com.