Knights who say NI, Nisource (NI) down 60%+ cut dividend
8:30 AM EDT, 07/02/2015 (MT Newswires) -- NiSource (NI), a natural gas company, has approved a quarterly dividend payment of $0.15, down from $0.26 in the previous quarter. The dividend is payable August 20 to shareholders of record at the close of business on July 31.
The payment will be the first dividend payment made following the separation of Columbia Pipeline Group (CPGX) from NiSource, which was completed July 1. NiSource said the lower payout is consistent with the company's intention to increase the companies' combined dividend. NiSource will target a dividend growth rate of 4 to 6% annually.
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