Saturday, February 28, 2009
REGION
Dominion East Ohio says gas rate to drop 42 cents
CLEVELAND — Customers who buy their natural gas from Dominion East Ohio will pay $6.386 per thousand cubic feet, starting March 19. The new rate is 42 cents lower than the current rate.
The company said prices have fallen because of increased domestic production last year and reduced demand from industries because of the recession.
The average residential customer’s bill for the month of March would be $146.25, down $52.54, or 26.3 percent, from the same month last year.
NATION
GE cuts dividend for 3rd quarter to 10 cents
WASHINGTON — General Electric Co. is cutting its third-quarter dividend by 68 percent, a move that will save the struggling conglomerate $9 billion a year.
GE, one of the nation’s largest companies, said Friday it will pay shareholders a 10-cents-per-share dividend beginning in the third quarter, down from the company’s original plan of 31 cents.
From Vindicator staff and wire reports