Black Hills Corporation
Declares 35th Consecutive Annual Dividend Increase
For Information Contact:
Mark T. Thies, Executive
Vice President; Dale
T. Jahr, Director, Investor Relations
RAPID CITY, SD—February 4, 2004—At
a meeting held February 2, 2005, the Board of Directors of Black Hills Corporation (NYSE: BKH) declared quarterly
dividends on the common and preferred stock, resulting in
the 35th consecutive annual common dividend increase.
Common shareholders will receive 32 cents per share, equivalent
to an annual dividend rate of $1.28, an increase of 3.2
percent from the $1.24 paid in 2004. Preferred shareholders,
whose holdings are related to a Company acquisition, will
receive $11.609 per share, an amount which represents 1
percent per annum computed on the basis of $1,000 per share
plus a common stock dividend equivalence. Dividends will
be payable March 1, 2005, to all shareholders of record
at the close of business on February 15, 2005.
As previously announced, the Company will issue a news release
for fourth quarter 2004 earnings on Monday, February 7,
2005. In conjunction with this release, the Company will
hold a conference call on Tuesday, February 8, 2005 beginning
at 11:00 a.m. Eastern Standard Time to discuss financial
and operating performance. The conference call will be open
to the public. The call can be accessed by dialing, toll-free,
(800) 762-4717. When prompted, indicate that you wish to
participate in the “Black Hills Quarterly Earnings
Conference Call.” A replay of the conference call
will be available through February 15, 2005 by dialing (800)
475-6701 (USA) or (320) 365-3844 (international). The access
code is 768614.
Black Hills Corporation is a diverse energy and communications
company. Black Hills Energy, the wholesale energy unit,
generates electricity, produces natural gas, oil and coal,
and markets energy. Our retail businesses are Black Hills
Power, an electric utility serving western South Dakota,
northeastern Wyoming and southeastern Montana; the recently
acquired Cheyenne Light, Fuel & Power, an electric and
gas distribution company serving the Cheyenne, Wyoming vicinity;
and Black Hills FiberCom, a broadband communications company, which offers bundled
telephone, high speed Internet, and cable entertainment
services. More information is available at our Internet
web site: www.blackhillscorp.com.
