Black Hills Corporation (BKH) 2008年年度报告「NYSE」.pdf

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1、POSITIONING FOR THE FUTURE2008 aNNUal REPORT2008 aNNUal REPORTAGILITYCOMMUNICATIONCREATING VALUECUSTOMER SERVICEINTEGRITY625 Ninth StreetRapid City,SD LEADERSHIPPARTNERSHIPRESPECTbusiness group assets(c)(d)20082007200620052004corporate highlightsEarnings per share dilutedDividends paid per shareBook

2、 value per outstanding shareYear-end stock priceFive-year dividend growth ratePayout ratioDividend yield on market value at year-endReturn on average year-end common equityPrice-earnings multiple at year-endElectric Utilities sales(millions of KWH)*Electric Utility natural gas sales(millions of Deka

3、therms)Natural Gas Utilities sales(millions of Dekatherms)*Total independent power capacity(MW)at year-end*Tons of coal sold(thousands of tons)Oil and natural gas production sold(MMcfe)Average daily physical volume natural gas marketed(MMBtu)Average daily physical volume crude oil marketed(barrels)e

4、arnings per share 20082007200620052004dividends 20082007200620052004$2.75$1.40$27.19$26.963.1%51%5.2%10.4%105,7494,77323,0541416,01713,5341,873,4007,8802008$2.64$1.37$25.66$44.103.4%52%3.1%11.2%173,9684,4289835,04914,6271,743,5008,6002007$2.42$1.32$23.68$36.943.3%55%3.6%10.6%154,1424,3889894,71714,4

5、141,598,2008,8002006$0$0.50$1.00$1.50$2.00$2.50$0$0.25$0.50$0.75$1.00$1.25$0$400$800$1,200$1,600$2,000Utilities(e)Non-regulated energy1.00(b)2.422.641.761.24467.0624.0740.8830.12,218.4694.9806.3952.51,024.4974.81.281.321.371.402.75(a)*Includes Black Hills Energy results from the July 14,2008,acquisi

6、tion date through December 31,2008.*In 2008,we sold seven IPP plants with 974 MW of capacitya Includes$3.66 per share for the gain on sale of the IPP assets,a$1.61 per share charge for an unrealized mark-to-market charge for certain interest rate swaps and$1.55 per share charge for an Oil and Gas ce