Miscellaneous Financial Information (Unaudited)

12 Months Ended

Dec. 31, 2013

Quarterly Financial Information Disclosure [Abstract]

Miscellaneous Financial Information (Unaudited)

Note 21 — Miscellaneous Financial Information (Unaudited)

Cleco

Quarterly information for Cleco for 2013 and 2012 is shown in the following tables.

							2013
(THOUSANDS, EXCEPT PER SHARE AMOUNTS)	1ST QUARTER		2ND QUARTER		3RD QUARTER		4TH QUARTER
Operating revenue, net	$	240,947	$	263,894	$	328,763	$	263,109
Operating income	$	58,467	$	74,754	$	116,794	$	58,314
Net income applicable to common stock	$	27,133	$	42,032	$	66,407	$	25,112
Basic net income per average share	$	0.45	$	0.70	$	1.10	$	0.42
Diluted net income per average common share	$	0.45	$	0.69	$	1.09	$	0.41
Dividends paid per common share	$	0.3375	$	0.3625	$	0.3625	$	0.3625
Market sales price per share
High	$	47.17	$	49.52	$	50.42	$	47.79
Low	$	40.39	$	43.75	$	43.76	$	43.69

							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

Cleco Corporation’s common stock is listed for trading on the New York Stock Exchange under the ticker symbol “CNL.” On December 31, 2013, Cleco had 5,620 common shareholders and no preferred shareholders, as determined from the records of the transfer agent.

On January 30, 2014, Cleco Corporation’s Board of Directors declared a quarterly dividend of $0.3625 per share payable on February 18, 2014, to common shareholders of record at the close of business on February 11, 2014.

In January 2013, the Board of Directors declared a dividend of $0.3375 per share of common stock. In April 2013, the quarterly dividend declared by the Board of Directors increased to $0.3625 per share of common stock. In July and October 2013, a dividend of $0.3625 was again declared.

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 2013 and 2012 is shown in the following tables.

							2013
(THOUSANDS)	1ST QUARTER		2ND QUARTER		3RD QUARTER		4TH QUARTER
Operating revenue, net	$	240,778	$	263,725	$	328,556	$	262,900
Operating income	$	61,765	$	72,579	$	111,663	$	60,678
Net income	$	27,793	$	34,464	$	61,885	$	26,268
Distribution to Cleco Corporation (as sole member)	$	—	$	25,000	$	50,000	$	30,000

							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	$	—