Black Hills Corporation (BKH) 2004年年度报告「NYSE」.pdf

1、ENERGYTOCONNECTB L A C K H I L L S C O R P O R A T I O N 2 0 0 4 A N N U A L R E P O R TWe are a quality company,delivering exceptional customer value,creating opportunities for employees,and growing through responsible energy development in the West to achieve solid returns for investors.Corporate

2、MissionTO OUR SHARHOLDERSBLACKHILLS AT A GLANCEWHOLESALE ENERGYRETAIL SERVICESSOCIAL RESPONSIBILITYFINANCIAL SECTION268121617CO N T E N T SBHC layout finalDanaSP.qxd 4/20/05 11:32 AM Page 17Earnings per average share-dilutedDividends paid per shareBook value per outstanding shareYear-end stock price

3、Five-year dividend growth ratePayout ratioDividend yield on market value at year-endReturn on average common equityPrice-earnings multiple at year-endTotal utility electric sales(millions of KWhs)Total independent power capacity(MW)at year-end*Tons of coal sold(thousands of tons)Oil and gas producti

4、on sold(MMcfe)Daily volume natural gas marketed(MMBtu)Daily volume crude oil marketed(barrels)2004 20032002$1.97$1.20$21.72$29.833.7614.010152,9261,0024,81210,8431,241,90058,700$2.26$1.16$19.66$26.524.1514.412122,9469504,0527,3981,088,20057,200$1.76$1.24$22.43$30.683.6704.08173,0519644,78012,5951,74

5、1,10044,900%1CORPORATEHIGHLIGHTS*Includes 40 MW in 2003 and 82 MWin 2002 that are currently reported as“discontinued operations.”*Excludes corporate assets and assets of discontinued operations.2000$1.50$3.00$3.75$0.75$2.25$01.761.972.263.422.3720042001200220032000$0.50$1.00$1.25$0.25$0.75$01.241.20

6、1.161.121.08200420012002200320042001200220002003$0$600$1,200$1,500$300$900123.8420.6926.21,231.1131.3451.2106.9575.7409.5464.4116.41,446.0463.91,324.2126.2Business Group Assets*($million)Earnings($million)Retail ServicesWholesale energyCommunicationsDividendsBHC layout finalDanaSP.qxd 4/20/05 11:28