The El Paso Electric Co. board increased the company's quarterly cash dividend to 33.5 cents per share from 31 cents per share, according to a May 26 filing. The new dividend will be payable on June 30 to shareholders of record as of June 16.
El Paso Electric's shareholders held an annual meeting May 25 electing directors and appointing executives, while two of the company's veteran directors announced their retirement. Paul Barbas and Raymond Palacios Jr. will fill the seats being vacated by the retirements of J. Robert Brown and Thomas Shockley III.
El Paso shareholders also elected Catherine Allen, Edward Escudero and Eric Siegel as class II directors for a three-year term expiring in 2020.
Additionally, the shareholders appointed CEO Mary Kipp as president of the company. She has been serving the company as its CEO since 2015 and previously served as El Paso Electric's president from 2014 to 2015.
The company's senior vice president — general counsel, John Boomer, announced plans to leave in July. Adrian Rodriguez was appointed as vice president — general counsel and assistant secretary.
The shareholders also ratified the selection of KPMG LLP as the company's 2017 independent registered accounting firm.