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Miscellaneous Financial Information (Unaudited)
12 Months Ended
Dec. 31, 2012
Quarterly Financial Information Disclosure [Abstract]  
Miscellaneous Financial Information (Unaudited)
Cleco
Quarterly information for Cleco for 2012 and 2011 is shown in the following tables.
 
 

 
 

 
 

 
2012

(THOUSANDS, EXCEPT PER SHARE AMOUNTS)
1ST
QUARTER

 
2ND
QUARTER

 
3RD
QUARTER

 
4TH
QUARTER

Operating revenue, net
$
222,773

 
$
240,123

 
$
297,372

 
$
233,431

Operating income
$
54,294

 
$
74,243

 
$
103,347

 
$
49,766

Net income applicable to common stock
$
30,031

 
$
46,686

 
$
63,818

 
$
23,112

Basic net income per average share
$
0.50

 
$
0.77

 
$
1.06

 
$
0.38

Diluted net income per average common share
$
0.50

 
$
0.77

 
$
1.05

 
$
0.38

Dividends paid per common share
$
0.3125

 
$
0.3125

 
$
0.3375

 
$
0.3375

Market sales price per share
 

 
 

 
 

 
 

High
$
40.10

 
$
42.45

 
$
45.30

 
$
43.75

Low
$
36.15

 
$
38.16

 
$
40.09

 
$
38.46

 
 
 

 
 

 
 

 
2011

(THOUSANDS, EXCEPT PER SHARE AMOUNTS)
1ST
QUARTER

 
2ND
QUARTER

 
3RD
QUARTER

 
4TH
QUARTER

Operating revenue, net
$
253,690

 
$
272,923

 
$
351,581

 
$
239,119

Operating income
$
64,518

 
$
69,581

 
$
115,500

 
$
48,647

Net income applicable to common stock
$
29,004

 
$
70,221

 
$
65,842

 
$
30,643

Basic net income per average share
$
0.48

 
$
1.16

 
$
1.09

 
$
0.51

Diluted net income per average common share
$
0.48

 
$
1.15

 
$
1.08

 
$
0.51

Dividends paid per common share
$
0.25

 
$
0.28

 
$
0.28

 
$
0.3125

Market sales price per share
 

 
 

 
 

 
 

High
$
34.51

 
$
35.66

 
$
36.14

 
$
38.31

Low
$
30.56

 
$
33.68

 
$
30.06

 
$
32.36



Cleco Corporation’s common stock is listed for trading on the New York Stock Exchange under the ticker symbol “CNL.” Cleco Corporation’s preferred stock is not listed on any stock
exchange. On December 31, 2012, Cleco had 5,838 common shareholders and no preferred shareholders, as determined from the records of the transfer agent.
On January 24, 2013, Cleco Corporation’s Board of Directors declared a quarterly dividend of $0.3375 per share payable on February 15, 2013, to common shareholders of record at the close of business on February 5, 2013.
In April 2011, the Board of Directors of Cleco Corporation declared a dividend of $0.28 per share of common stock. In October 2011, the Board of Directors raised the quarterly dividend from $0.28 per share of common stock to $0.3125 per share of common stock
In January and April 2012, the Board of Directors declared a dividend of $0.3125 per share of common stock. In July 2012, the quarterly dividend declared by the Board of Directors increased to $0.3375 per share of common stock. In October 2012, a dividend of $0.3375 was again declared. The declaration of dividend payments is at the Board of Directors’ sole discretion and future dividends are subject to numerous factors that ordinarily affect dividend policy, including the result of Cleco’s operations and its financial position, as well as general economic and business conditions.

Cleco Power
Quarterly information for Cleco Power for 2012 and 2011 is shown in the following tables.
 
 

 
 

 
 

 
2012

(THOUSANDS)
1ST
QUARTER

 
2ND
QUARTER

 
3RD
QUARTER

 
4TH
QUARTER

Operating revenue, net
$
222,620

 
$
239,967

 
$
297,212

 
$
233,269

Operating income
$
58,306

 
$
76,792

 
$
97,510

 
$
54,584

Net income
$
26,805

 
$
37,284

 
$
57,783

 
$
24,975

Distribution to Cleco Corporation (as sole member)
$
30,000

 
$
10,000

 
$
18,000

 
$


 
 
 
 
 
 
 
2011

(THOUSANDS)
1ST
QUARTER

 
2ND
QUARTER

 
3RD
QUARTER

 
4TH
QUARTER

Operating revenue, net
$
250,623

 
$
268,464

 
$
342,296

 
$
236,099

Operating income
$
67,105

 
$
74,834

 
$
109,495

 
$
52,959

Net income
$
30,030

 
$
35,694

 
$
53,833

 
$
23,278

Distribution to Cleco Corporation (as sole member)
$
50,000

 
$

 
$
50,000

 
$
30,000