Duke Energy 2013 Annual Report Download - page 6
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4
l
DUKE ENERGY
access debt and equity markets to raise
competitively priced capital that is needed to
fulfill our obligations to customers today and
years from now.
In 2013, Duke Energy delivered $4.35 in
adjusted diluted earnings per share, in the
middle of our guidance range. We achieved
a total shareholder return of 13 percent for
2013, outperforming the Philadelphia Utility
Index (UTY) return of 11 percent. We also
outperformed the UTY for the last three-,
five- and 10-year periods.
A growing dividend is
central to our investor value
proposition. In 2013, we
increased the dividend
approximately 2 percent,
the ninth consecutive
year of dividend increases and the 87th
consecutive year of paying a quarterly
dividend. In 2014, we expect to reach our
long-term target dividend payout ratio of
65 to 70 percent.
We improved our credit profile after entering
2013 with an already strong balance sheet.
The three major credit-rating agencies
* For the periods ended December 31, 2013
Five years:
1 4 . 8 %
Duke Energy Corporation
S&P
500
Index
17. 9%
Philadelphia
Utility
Index
8.9%
Three years:
1 4 . 3 %
Duke Energy Corporation
S&P
500
Index
16.2%
Philadelphia
Utility
Index
9.6%
One year:
1 3 %
Duke Energy Corporation
S&P 500 Index
32.4%
Philadelphia Utility Index
11%
TOTAL SHAREHOLDER RETURN*
87TH YEAR
of quarterly
dividend
payments