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

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