Miscellaneous Financial Information (Unaudited)

12 Months Ended

Dec. 31, 2014

Quarterly Financial Information Disclosure [Abstract]

Miscellaneous Financial Information (Unaudited)

Note 19 — Miscellaneous Financial Information (Unaudited)

Cleco

Quarterly information for Cleco for 2014 and 2013 is shown in the following tables:

							2014
(THOUSANDS, EXCEPT PER SHARE AMOUNTS)	1ST QUARTER		2ND QUARTER		3RD QUARTER		4TH QUARTER
Operating revenue, net	$	284,387	$	309,070	$	371,386	$	304,643
Operating income	$	57,338	$	66,721	$	107,242	$	54,729
Net income applicable to common stock	$	25,924	$	36,633	$	70,835	$	21,347
Basic net income per average share	$	0.43	$	0.61	$	1.17	$	0.35
Diluted net income per average common share	$	0.43	$	0.60	$	1.17	$	0.35
Dividends on common stock	$	0.3625	$	0.40	$	0.40	$	0.40
Market sales price per share
High	$	50.99	$	59.13	$	59.21	$	55.36
Low	$	45.52	$	49.32	$	48.06	$	46.11

							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 on common stock	$	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

Cleco Corporation’s common stock is listed for trading on the NYSE under the ticker symbol “CNL.” On December 31, 2014, Cleco had 5,404 common shareholders and no preferred shareholders, as determined from the records of the transfer agent.

On January 29, 2015, Cleco Corporation’s Board of Directors declared a quarterly dividend of $0.40 per share payable on February 17, 2015, to common shareholders of record at the close of business on February 10, 2015.

In January 2014, the Board of Directors declared a quarterly dividend of $0.3625 per share of common stock.

In April 2014, July 2014, and October 2014, the Board of Directors declared a quarterly dividend of $0.40 per share of common stock.

In January 2013, Cleco Corporation’s Board of Directors declared a quarterly dividend of $0.3375 per share of common stock.

In April 2013, July 2013, and October 2013, Cleco Corporation’s Board of Directors declared a quarterly dividend of $0.3625 per share of common stock.

In accordance with the Merger Agreement, until the completion of the Merger, Cleco Corporation’s Board of Directors may continue the declaration and payment of regular quarterly cash dividends on its common stock, not to exceed $0.40 per share of common stock, with usual record and payment dates for such dividends in accordance with past dividend practices. For more information about the Merger, see Note 20 — “Agreement and Plan of Merger.”

Cleco Power

Quarterly information for Cleco Power for 2014 and 2013 is shown in the following tables:

							2014
(THOUSANDS)	1ST QUARTER		2ND QUARTER		3RD QUARTER		4TH QUARTER
Operating revenue, net	$	284,180	$	308,859	$	371,178	$	304,432
Operating income	$	58,188	$	67,032	$	108,303	$	66,189
Net income	$	26,307	$	32,658	$	65,544	$	29,806
Contributions from Cleco Corporation	$	138,080	$	—	$	—	$	—
Distribution to Cleco Corporation (as sole member)	$	35,000	$	35,000	$	15,000	$	30,000

							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