Corporate Information
Corporate Info

Printer Friendly Version Print Version
SEMCO ENERGY, Inc. Declares Quarterly Dividend on Preferred Stock

PORT HURON, Mich., Oct. 18 /PRNewswire-FirstCall/ -- SEMCO ENERGY, Inc. (NYSE: SEN) today announced that the Dividend Declaration Committee of the Company's Board of Directors has declared a regular quarterly dividend payable on the Company's 5% Series B Convertible Cumulative Preferred Stock. The dividend is payable on the date upon which the Effective Time of the Share Exchange occurs or November 15, 2007, whichever is earlier, for the period from August 16, 2007, to the Effective Time of the Share Exchange or to November 15, 2007, whichever is earlier, at a rate of $2.50 per share, to holders of record of the Preferred Stock at the close of business on November 1, 2007. Additionally, if the Effective Time of the Share Exchange occurs prior to November 15, 2007, the dividend shall be reduced by a rate of $0.02778 per share of Preferred Stock per each day that the Effective Time precedes November 15, 2007.

SEMCO ENERGY, Inc. distributes natural gas to more than 400,000 customers combined in Michigan, as SEMCO ENERGY GAS COMPANY, and in Alaska, as ENSTAR Natural Gas Company. It also owns and operates businesses involved in propane distribution, intrastate pipelines and natural gas storage in various regions of the United States.

The following is a "Safe-Harbor" statement under the Private Securities Litigation Reform Act of 1995. This release contains forward-looking statements that involve risks and uncertainties. Statements that are not historic facts, including statements about the Company's outlook, beliefs, plans, goals and expectations, are forward-looking statements. Factors that may impact forward-looking statements include, but are not limited to, the effects of weather, the economic climate, competition, commodity prices, changing conditions in the capital markets, regulatory approval processes, success in obtaining new business, success in defending claims against the Company, inability to complete the acquisition of the Company by Cap Rock Holding Corporation and other risks detailed from time to time in the Company's Securities and Exchange Commission filings.


CONTACT: Analysts, Thomas Connelly, Director of Investor Relations,
248-458-6163; Media, Timothy Lubbers, Director of Marketing & Corporate
Communications, 810-887-4208, both of SEMCO ENERGY, Inc.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding SEMCO Energy's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.

©2006 SEMCO ENERGY, Inc., All Rights Reserved.