South Carolina utility owner SCANA hikes cash dividend

Investors in a widely held South Carolina stock are getting a raise.

Cayce-based SCANA Corp. is increasing it quarterly dividend on it common shares by 5.5 percent, or 3 cents. The parent of South Carolina Electric & Gas said the newly approved rate is 57 cents a share. It’s payable April 1 to shareholders on March 10.

The change increases the company’s annual dividend to $2.30 from $2.18.

“After an eventful year, SCANA achieved its earnings targets and completed another successful year,” said Jimmy Addison, chief financial officer. “The results of 2015, our confidence in our growth strategy, financial strength and long-term outlook, as well as our commitment to providing competitive returns to our investors, were considered when making the decision to increase the quarterly dividend.”