SCANA Corp., parent of South Carolina Electric & Gas, today announced a profit for the second quarter of 2017 of $121 million, up 15.2% over $105 million reported for a similar period in 2017.
For the first six months of 2017, SCANA reported earnings rose about 4% to $292 million compared with $281 million for the first half of 2016.
The earnings report follows Monday’s announcement that the company and its state-operated partner Santee Cooper scuttled plans to build two reactor units at the V.C. Summer Nuclear Station, putting some 5,000 people out of work.
Among the company’s subsidiaries, SCE&G reported earnings increased 11.5% to $126 million in the second quarter over $113 million for the second quarter of 2016.
Higher electric and gas margins and lower operations and maintenance expenses were partially offset by increases to our capital program including interest expense, depreciation, and property taxes, the Cayce-based company said in a press release.
As of June 30, SCE&G was serving approximately 718,000 electric customers and 362,000 natural gas customers, up 1.6% and 2.9%, respectively, over 2016.
Meanwhile, the SCANA board today declared a regular quarterly dividend of 61¼ cents per share on the company's common stock for the quarter ending Sept. 30. The dividend is payable Oct. 1 to shareholders of record at the close of business on Sept. 11.