Monday, Feb. 28, 2011 | 9 a.m.
Southwest Gas Corp. of Las Vegas today said its fourth quarter profit fell slightly on lower revenue.
The natural gas supplier in Nevada, Arizona and California said it earned $45 million, or 98 cents per share, down from $46.4 million or $1.02.
Higher rates paid by consumers boosted results by $2 million in Nevada and $1 million in California, but this was more than offset by a $9 million weather-related operating margin decrease.
Arizona experienced one of its warmest Decembers on record, the company said.
The company separately announced plans last week to pay out more of its profit to shareholders.
The quarterly common stock dividend was boosted from 25 cents per share to 26.5 cents per share. The dividend is payable June 1 to shareholders of record as of May 16.
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