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Duke Energy Increases Quarterly Dividend

CHARLOTTE, N.C., June 26, 2012 /PRNewswire/ -- Duke Energy (NYSE: DUK) today declared a quarterly cash dividend on its common stock of $0.255 per share, an increase of a half-cent over the previous level. The dividend is payable on Sept. 17, 2012, to shareholders of record at the close of business Aug. 17, 2012.

(Logo: http://photos.prnewswire.com/prnh/20040414/DUKEENERGYLOGO )

Duke Energy anticipates the closing of its merger with Progress Energy on or about July 1, 2012. Upon closing, Duke Energy will execute a 1-for-3 reverse stock split.

If the merger closing occurs on or prior to the dividend record date of Aug. 17, 2012, the dividend will be automatically adjusted to $0.765 per share, as a result of the 1-for-3 reverse stock split.

"Duke Energy has increased its dividend every year since 2007, which is the year after we completed our merger with Cinergy," said Jim Rogers, who became Duke Energy chairman, president and CEO following the merger. "The cornerstone of this success has been our focus on customer service, providing reliable, cost-efficient service, and maintaining a strong balance sheet.

"These are policies that will continue as we complete our merger with Progress Energy to become the largest regulated utility in the country."

This is the 86th consecutive year that Duke Energy has paid a quarterly cash dividend on its common stock.

Headquartered in Charlotte, N.C., Duke Energy is a Fortune 250 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available on the Internet at: www.duke-energy.com.

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SOURCE Duke Energy

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