New Identity Reinforces Direction, Initiatives
The Laclede Group (NYSE: LG) provides a flexible way to operate and grow our business. It is the parent organization of the regulated core utility component — Laclede Gas Company — and of a non-regulated component being developed to achieve sustainable growth in a measured and manageable manner. The Laclede Group's largest non-regulated activity is Laclede Energy Resources, a subsidiary engaged in non-regulated efforts to market natural gas and related activities.
Ringing of The Closing Bell (NYSE) - Monday, December 7, 2009
On Monday, December 7, 2009, executives from The Laclede Group, Inc. visited the New York Stock Exchange (NYSE) to commemorate the Company’s 120th anniversary of trading on the Exchange. The Laclede Gas Light Company was founded more than 150 years ago on March 2, 1857. In 1896, St. Louis-based Laclede Gas was one of the initial Dow 12. The Company first listed its stock on the NYSE on November 14, 1889, making it the 8th-oldest listed stock on the Exchange. In honor of this milestone, Chairman, President and CEO Douglas H. Yaeger rang the NYSE Closing Bell. Click here to watch the archived event (available for viewing through December 6, 2010).
Important Shareholder Information — Dividend Tax treatment
In these hard economic times, working and retired Americans need to hold on to any and all income they have coming their way. In 2003, Congress passed legislation to temporarily lower the tax rate on qualified dividend income from a maximum of 38.6 percent to a maximum of 15 percent. This dividend tax rate reduction is scheduled to expire at the end of 2010, unless Congress takes action to extend it. If not extended, the maximum tax rate on dividends could jump to more than 39 percent for some taxpayers! The average utility shareholder is not a millionaire. In fact, a large percentage of utilities' shareholders are over the age of 50 and have an annual household income of less than $75,000. These citizens are often retirees who depend on dividend income to supplement their pensions and Social Security. The Laclede Group favors a permanent reduction in the dividend tax rate and is working with the American Gas Association (AGA), the Missouri Energy Development Association and other related organizations to support necessary legislation. On April 15, 2008 the AGA issued a press release and a study by Ernst & Young on the issue urging Congress to extend the dividend tax rate. Through the Defend My Dividend campaign, a website has been established for shareholders interested in learning how they can protect their nest eggs. We urge you to get involved!
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