Sierra Pacific Resources (NYSE: SRP) announced that its board of
directors today declared a cash dividend of 10 cents per share, payable
on December 17, 2008, to shareholders of record on December 2, 2008.
The company had previously paid 8 cents per share since resuming
quarterly dividends in the third quarter of 2007.
Headquartered in Nevada, Sierra Pacific Resources is a holding company
whose principal subsidiaries, Nevada Power Company and Sierra Pacific
Power Company, are doing business as NV Energy. Serving a
54,500-square-mile service territory that stretches north to south from
Elko to Laughlin, NV Energy provides a wide range of energy services and
products to approximately 2.4 million citizens of Nevada as well as
approximately 40 million tourists annually.
This press release may contain forward-looking statements regarding the
future performance of Sierra Pacific Resources within the meaning of the
Private Securities Litigation Reform Act of 1995. These statements are
subject to a variety of risks and uncertainties that could cause actual
results to differ materially from current expectations. These risks and
uncertainties include, but are not limited to, the discretion of Sierra
Pacific Resources' Board of Directors with respect to the payment of
future dividends based on its periodic review of factors that ordinarily
affect dividend policy, such as current and prospective financial
condition, earnings and liquidity, prospective business conditions,
regulatory factors, and dividend restrictions in Sierra Pacific
Resources' and its subsidiaries' financing agreements. Additional
cautionary statements regarding other risk factors that could have an
effect on the future performance of Sierra Pacific Resources and its
subsidiaries are contained in its Annual Report on Form 10-K and/or Form
10-K/A for the year ended December 31, 2007 and in its Quarterly Reports
on Form 10-Q for the quarters ended March 31, 2008 and June 30,
2008, each filed with the SEC. Sierra Pacific Resources undertakes no
obligation to release publicly the result of any revisions to these
forward-looking statements that may be made to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events.
