Amended: corrects analysts' estimates for FY09 in the intro.
Piedmont Natural Gas Co. Inc.'s (PNY) fiscal 2009 net income rose to $122.82 million or $1.67 per share from $110.01 million or $1.49 per share last year. On average, 4 analysts polled by Thomson Reuters expected earnings of $1.58 per share for the year. Analysts' estimate typically excludes one-time items.
Operating revenues for the latest year stood at $1.64 billion compared with $2.09 billion in the previous year. Two analysts estimated revenues of $1.89 billion for the year.
In addition, the company reiterated its fiscal year 2010 earnings view of $1.90 - $2.00 per share. This guidance includes an expected $0.42 gain in the first quarter of 2010 related to Piedmont's sale of one-half of its ownership interest in SouthStar Energy Services to AGL Resources, Piedmont Natural Gas added. Three analysts estimate fiscal 2010 earnings per share of $1.72.
Also, the board declared a quarterly dividend on common stock of $0.27 cents per share, payable January 15, 2010, to holders of record at the close of business on December 28, 2009.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.