Vectren 2012 Annual Report Download - page 2

Download and view the complete annual report

Please find page 2 of the 2012 Vectren annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 132

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132

Year ended December 31,
In millions, except per share amounts 2012 2011 2010
Net income $ 159.0 $141.6 $133.7
Return on average common shareholders’ equity (ROE) 10.6% 9.8% 9.4%
Shares outstanding at year-end 82.2 81.9 81.7
Average shares outstanding for basic earnings 82.1 81.8 80.2
Per Common Share
Basic earnings $ 1.94 $ 1.73 $ 1.65
Dividends paid $ 1.405 $ 1.385 $ 1.365
Annual dividend rate at year-end $ 1.42 $ 1.40 $ 1.38
Book value $ 18.57 $ 17.89 $ 17.61
Market price at year-end $ 29.40 $ 30.23 $ 25.38
Table of Contents
Letter to Shareholders ................................................... 1
Vectren at a Glance ....................................................... 8
Form 10-K ..................................................................... 9
Management’s Discussion and Analysis .................. 34
Financial Statements and Notes .............................. 67
5-Year Financial Review ............................................. 126
Performance Chart .................................................... 127
Shareholder Information ............................................ 128
Directors and Officers ................................................ IBC
Financial and Operating Highlights
Earnings
Per Share
$ 2.00
1.90
1.80
1.70
1.60
1.50
2010 2011 2012
Dividends
Per Share
$ 1.50
1.40
1.30
1.20
1.10
1.00
2010 2011 2012
Book Value
Per Share
$ 19.00
18.50
18.00
17.50
17.00
16.50
2010 2011 2012