Vectren 2010 Annual Report Download - page 2

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Table of Contents
Letter to Shareholders .................................................1
Vectren at a Glance .................................................. 8
Form 10-K ................................................................ 9
Management’s Discussion and Analysis ................. 31
Financial Statements and Notes ............................ 63
5-Year Financial Review ............................................122
Performance Chart ...................................................123
Directors and Officers ...............................................124
Shareholder Information ............................................ IBC
Financial and Operating Highlights
Year ended December 31,
In millions, except per share amounts 2010 2009 2008
Net income $ 133.7 $ 133.1* $ 129.0
Return on average common shareholders’ equity (ROE) 9.4% 9.7%* 10.0%
Shares outstanding at year-end 81.7 81.1 81.0
Average shares outstanding for basic earnings 81.2 80.7 78.3
Per Common Share
Basic earnings $ 1.65 $ 1.65* $ 1.65
Dividends paid $ 1.365 $ 1.345 $ 1.31
Annual dividend rate at year-end $ 1.38 $ 1.36 $ 1.34
Book value $ 17.61 $ 17.23 $ 16.69
Market price at year-end $ 25.38 $ 24.68 $ 25.01
*Twelve months ended December 31, 2009, includes an $11.9 million, or $0.15 per share, after-tax charge related to Liberty Gas Storage investment.
$1.45
1.35
1.25
1.15
1.05
Dividends
Per Share
‘06 ‘07 ‘08 ‘09 ‘10
$140
120
100
80
60
Utility Net Income
In Millions
‘06 ‘07 ‘08 ‘09 ‘10