Vectren 2013 Annual Report Download - page 2
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Dividends
Per Share
$ 1.50
1.40
1.30
1.20
1.10
1.00
2011 2012 2013
Table of Contents
Letter to Shareholders.................................................. 1
Vectren at a Glance ..................................................... 4
Form 10-K ................................................................... 5
Management’s Discussion and Analysis ................. 31
Financial Statements and Notes ............................. 67
5-Year Financial Review ........................................... 133
Performance Chart ................................................... 134
Shareholder Information ........................................... 136
Directors and Officers .............................................. IBC
Year ended December 31,
In millions, except per share amounts 2013 2012 2011
Net income 1$ 174.1 $ 159.0 $141.6
Return on average common shareholders’ equity (ROE) 111.3% 10.6% 9.8%
Shares outstanding at year-end 82.4 82.2 81.9
Average shares outstanding for basic earnings 82.3 82.0 81.8
Per Common Share
Basic earnings 1$ 2.12 $ 1.94 $ 1.73
Dividends paid $ 1.425 $ 1.405 $ 1.385
Annual dividend rate at year-end $ 1.44 $ 1.42 $ 1.40
Book value $ 18.86 $ 18.57 $ 17.89
Market price at year-end $ 35.50 $ 29.40 $ 30.23
Financial and Operating Highlights
1
In 2013, excludes a $37.5 million, or $0.46 per share, after-tax loss from ProLiance in the year of disposition of its gas
marketing assets. Reported results for 2013 were net income of $136.6 million, or $1.66 per share. Based upon reported
results, the return on average shareholders’ equity for 2013 was 8.9%. See page 33 of the Form 10-K incorporated herein
for more information regarding the use of non-GAAP measures.
Earnings
Per Share
$ 2.20
2.00
1.80
1.60
1.40
1.20
2011 2012 2013 1
Book Value
Per Share
$ 19.00
18.50
18.00
17.50
17.00
16.50
2011 2012 2013