NiSource Inc. reports developments for a fully regulated U.S. utility business that serves natural gas customers through Columbia Gas brands and gas and electric customers in Indiana through NIPSCO. Company news commonly covers quarterly and annual results, adjusted earnings guidance, funds-from-operations metrics, common stock dividends, and operating updates tied to regulated energy service.
Recurring updates also address Indiana energy infrastructure, NIPSCO Generation LLC initiatives, data-center-related electric demand, generation planning, customer cost-savings mechanisms, grid reliability, and regulatory requirements affecting power generation assets. NiSource communications frequently connect capital investment, utility regulation, and local economic development across its multi-state gas and electric footprint.
The board of directors of NiSource (NYSE: NI) has declared a quarterly common stock dividend of 25 cents per share, payable on May 19, 2023, to stockholders on record as of April 28, 2023. Additionally, a dividend of $28.25 per share on the 5.65% Series A Preferred Stock and $406.25 per share on the 6.50% Series B Preferred Stock will be paid on June 15, 2023, to stockholders of record by May 24, 2023. NiSource serves approximately 3.3 million natural gas customers and 500,000 electric customers across six states, emphasizing reliability and affordability.
NiSource (NYSE: NI) has announced the appointment of Jennifer Montague as president and chief operating officer of Columbia Gas of Virginia, effective May 1, 2023. This follows the retirement of Brent Archer, who served for 37 years in various roles, including the last eight as COO of Columbia Gas. Montague has been with NiSource since 2018, initially as VP of communications for NIPSCO, and holds degrees from Stanford University and the University of Chicago. NiSource, based in Merrillville, Indiana, serves about 3.2 million natural gas customers and 500,000 electric customers across six states.
NiSource (NYSE: NI) reported a strong performance for 2022, with a net income of $749 million, up from $530 million in 2021, translating into diluted earnings per share of $1.70 compared to $1.27 the prior year. Non-GAAP net operating earnings also increased to $648.2 million or $1.47 per share, a rise from $571.2 million or $1.37 per share. The company raised its 2023 guidance for non-GAAP NOEPS to between $1.54 and $1.60, reaffirming a growth target of 6-8% through 2027. Additionally, NiSource launched a sale process for a minority interest in NIPSCO aiming to strengthen its balance sheet.
NiSource Inc. (NYSE: NI) will host a conference call on February 22, 2023, at 11 a.m. ET to discuss its fourth quarter 2022 financial results and provide a business update. Financial results will be released prior to U.S. market open on the same day. Interested parties can access the live call via NiSource's website, and a replay will be available starting at 2 p.m. ET on February 22 until March 1, 2023. NiSource is a major utility company serving approximately 3.2 million natural gas and 500,000 electric customers across six states.
On January 26, 2023, the board of directors of NiSource (NYSE: NI) announced a quarterly common stock dividend of 25 cents per share, payable on February 17, 2023. This marks a significant increase, totaling an annualized dividend of $1 per share, which is over 6% higher than the 2022 dividend of 94 cents. President and CEO Lloyd Yates stated that this increase aligns with the company's premium utility growth plan, targeting a 60-70% payout ratio as part of a projected 9-11% total shareholder return. The board also declared a $406.25 dividend on the corporation's preferred stock, payable March 15, 2023.
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NiSource celebrates the one-year anniversary of its Columbia Gas and NIPSCO mobile apps, which facilitate bill payments and service management for customers. Since launch, the apps have seen over 6.1 million logins and 206,000 service requests completed. Customer interest in digital solutions led to the implementation of features like chatbot assistance, allowing 577,000 interactions in 2022. With 1.4 million customers opting for paperless billing, NiSource emphasizes its commitment to customer convenience and innovative solutions.
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On November 7, 2022, NiSource (NYSE: NI) reported a net income of $52 million for Q3 2022, up from $49.4 million in Q3 2021, maintaining a diluted EPS of $0.12. For the nine-month period, net income reached $518.2 million, up from $377.6 million. The company narrowed its 2022 non-GAAP diluted net operating earnings per share (NOEPS) guidance to $1.44 to $1.46 and initiated 2023 guidance of $1.50 to $1.57. Regulatory updates include an electric rate case in Indiana seeking $291.8 million and a settlement in Ohio for a $68.2 million rate increase.
NiSource Inc. (NYSE: NI) announced strategic actions following its business review to enhance financial performance and sustainability. Aiming to sell a minority stake in NIPSCO, the move seeks to strengthen the balance sheet and facilitate growth investments. The company forecasts a 6-8% annual growth in net operating earnings from 2021 to 2027, backed by $15 billion in investments. NiSource also set a net zero goal for greenhouse gas emissions by 2040, solidifying its position as an industry leader in sustainability.