VALLEY FORGE, Pa.--(BUSINESS WIRE)--Directors of UGI Corporation (NYSE: UGI) have declared a quarterly dividend of $0.2825 a share on the company’s common stock. The dividend is payable April 1, 2014 to shareholders of record as of March 14, 2014.
Additionally, Directors of UGI have authorized a share repurchase program of up to 10 million shares of the Company’s common stock. “We remain focused on delivering value to our shareholders and believe that a share repurchase program is an appropriate and strategic use of the company’s cash,” said John Walsh, president and chief executive officer of UGI. The authorization allows for the execution of the share repurchase program over a four year time horizon.
UGI has paid common dividends for 129 consecutive years and raised its dividend in each of the last 26 years.
UGI is a distributor and marketer of energy products and services. Through subsidiaries, UGI operates natural gas and electric utilities in Pennsylvania, distributes propane both domestically and internationally, manages midstream energy and electric generation assets in Pennsylvania, and engages in energy marketing in the Mid-Atlantic region. UGI, through subsidiaries, is the sole General Partner and owns 26% of AmeriGas Partners, L.P. (NYSE:APU), the nation's largest retail propane distributor.
Comprehensive information about UGI Corporation is available on the Internet at http://www.ugicorp.com.