Arch Coal Announces Quarterly Dividend Increase
ST. LOUIS, April 28, 2011 -- Arch Coal, Inc. (NYSE: ACI) today announced that its board of directors has approved an increase in the quarterly cash dividend from $0.10 per common share to $0.11 per common share. The dividend is payable June 15, 2011 to shareholders of record on June 1, 2011.
"I'm pleased to announce Arch's sixth dividend increase in the past eight years," said Steven F. Leer, chairman and chief executive officer of Arch Coal. "Today's 10 percent dividend increase reflects Arch's strong financial position and confidence in our future earnings potential."
U.S.-based Arch Coal is one of the world's largest and most efficient coal producers, with more than 160 million tons of coal sold in 2010. Arch's national network of mines supplies cleaner-burning, low-sulfur coal to customers on four continents, including U.S. and international power producers and steel manufacturers.
Forward-Looking Statements: This press release contains "forward-looking statements" - that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," or "will." Forward-looking statements by their nature address matters that are, to different degrees, uncertain. For us, particular uncertainties arise from changes in the demand for our coal by the domestic electric generation industry; from legislation and regulations relating to the Clean Air Act and other environmental initiatives; from operational, geological, permit, labor and weather-related factors; from fluctuations in the amount of cash we generate from operations; from future integration of acquired businesses; and from numerous other matters of national, regional and global scale, including those of a political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results to be materially different than those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. For a description of some of the risks and uncertainties that may affect our future results, you should see the risk factors described from time to time in the reports we file with the Securities and Exchange Commission.