Page 3 - SWGas Annual Report 2015
P. 3

Fellow Shareholders:                                              period. Southwest Gas remains among the top utilities
                                                                  for customer growth with 26,000 net new customer ad-
Trust takes time to build and hard work to maintain. It is        ditions in 2015. This is due in part to a growing economic
something we will never take for granted at Southwest Gas.        recovery across Southwest Gas service territories. Pos-
2015 was a good year for the Company as we contin-                itive customer growth and economic conditions, paired
ued to deliver on strategies that earn the trust of custom-
ers, shareholders, regulators, and other key stakeholders.        regulatory lag, have led to successful performance today
Whether in long-term planning or daily execution, we are          and a strong sense of optimism for tomorrow.
committed to guarding our reputation as a trusted utility
focused on safety, service, and reliability. We will continue     TRUSTED TO DELIVER:
to position Southwest Gas as an industry leader, trusted to       HONORING OUR COMMITMENTS
make prudent decisions, exceed customer expectations,             Southwest Gas has an enviable reputation as a trusted
and deliver on the strategies we undertake.                       company with a high level of integrity. We know that this
                                                                  reputation is hard to earn and easy to lose. In all Company
We take great pride that Southwest Gas customers express          projects, we focus on successful completion in an expe-
a high level of trust in our Company and continue to rank         ditious, ethical, and diligent manner.
us high in customer satisfaction. Our most recent survey
results revealed a 93 percent customer satisfaction rate.         We reported in last year’s annual report that the Company
In 2015, Southwest Gas was ranked third in the nation             would embark on constructing the proposed $35 million,
for utility brand trust amongst residential customers1. The       35-mile lateral connecting Ruby Pipeline to the growing
report considers the factors of company reputation and            Elko, Nevada area. This expansion project is now com-
advocacy, customer focus, community support, commu-               plete and is providing enhanced service and reliability
                                                                  for Northern Nevada’s growing residential, business, and
reliable quality as drivers of utility brand trust. Further, the  industrial customers.
report suggests a correlation between trust and financial
performance.                                                      Progress also continues on the development of a $55 mil-
                                                                  lion liquefied natural gas (LNG) storage facility in south-
contributed to excellent financial results and positioned          ern Arizona, which has received pre-approval by the
us well to embrace the opportunities of the future. For           Arizona Corporation Commission. We are currently in the
2015, we are pleased to report earnings per share of              process of designing the LNG facility, which will enhance
$2.94. These results allowed the Board of Directors to            our southern Arizona system reliability by protecting
increase the annual dividend rate on common stock to              customers from potential upstream supply disruptions.
$1.80 per share, an 11 percent increase over the existing
dividend level. This change marks a decade of annual
increases for our shareholders, gaining 120 percent over this







$0.86 $0.90 $0.95 $1.00 $1.06

 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016                1 Market Strategies International. Cogent ReportsTM. Utility Trusted Brand & Customer
Southwest Gas Corporation                                         Engagement: Residential: June 2015.
   1   2   3   4   5   6   7   8