Welcome to our dedicated page for Ugi news (Ticker: UGI), a resource for investors and traders seeking the latest updates and insights on Ugi stock.
UGI Corporation (NYSE: UGI) delivers essential energy solutions through propane distribution, natural gas utilities, and midstream operations. This news hub provides investors and industry stakeholders with centralized access to official updates and market developments.
Track critical announcements including quarterly earnings, infrastructure investments, regulatory filings, and partnership agreements. Our curated feed combines press releases with verified third-party analysis for complete perspective on UGI's operational and financial trajectory.
Key coverage areas include energy commodity pricing impacts, international propane market trends, utility rate case decisions, and sustainability initiatives. Bookmark this page for real-time updates on one of North America's most diversified energy distributors.
UGI has announced the pricing of a $610 million offering of 5% convertible senior notes due 2028, an increase from the initially planned $600 million. These notes are being offered privately to qualified institutional buyers under Rule 144A. The sale is expected to close on June 11, 2024, with an additional option for purchasers to buy up to $90 million more notes within 13 days. These senior unsecured obligations will accrue interest semi-annually and mature on June 1, 2028. The initial conversion rate is 36.2319 shares per $1,000 principal, with an approximate conversion price of $27.60 per share. UGI plans to use the $593 million net proceeds to refinance existing debt and for general corporate purposes. The notes and any shares issued upon conversion will not be registered under the Securities Act.
UGI (NYSE: UGI) has announced a proposed offering of $600 million in convertible senior notes due in 2028. These notes will be offered privately to qualified institutional buyers. UGI has also granted an option for the initial purchasers to buy an additional $90 million of notes. The notes are senior, unsecured, and will accrue interest semi-annually, maturing on June 1, 2028. They can be converted into cash and, if applicable, shares of UGI common stock under specific conditions. Noteholders can require UGI to repurchase the notes if a 'fundamental change' occurs. The proceeds will be used to refinance existing debt and for general corporate purposes.
UGI (NYSE: UGI) announced the final unsuccessful remarketing of its 0.125% Series A Cumulative Perpetual Convertible Preferred Stock. The preferred stock has a liquidation preference of $1,000 per share and was originally issued as part of the company's corporate units on May 25, 2021. The company revealed that 2,200,000 corporate units are outstanding, each consisting of one purchase contract and a 10% undivided beneficial interest in one share of convertible preferred stock. Each holder of a corporate unit will receive 2.2973 shares of UGI common stock, with cash paid for any fractional shares. The settlement rate was based on the volume-weighted average price of UGI's common stock over the 20 trading days ending May 30, 2024. The settlement of the purchase contracts is expected around June 3, 2024.
UGI (NYSE: UGI) announced the final remarketing period for its 0.125% Series A Cumulative Perpetual Convertible Preferred Stock. The period starts on May 23, 2024, and ends on May 30, 2024. The Convertible Preferred Stock has a liquidation preference of $1,000 per share. The Company issued this stock as part of its equity units in May 2021. There is no guarantee of successful remarketing during this period.
UGI (NYSE: UGI) has announced a quarterly dividend of $0.375 per share for common stock shareholders, payable on July 1, 2024. The company has a history of paying dividends for 140 consecutive years.
UGI reported strong financial results for the fiscal quarter ended March 31, 2024, with GAAP diluted EPS of $2.30 and adjusted diluted EPS of $1.97. The Board concluded the strategic review of its LPG businesses, focusing on AmeriGas Propane, and decided to retain ownership. The company aims for a long-term EPS growth rate of 4-6% and affirmed its commitment to return value to shareholders through dividend payments. UGI reaffirmed its fiscal 2024 adjusted diluted EPS guidance range of $2.70 - $3.00 per share.
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