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Future looks bright, TECO bosses say

By Asjylyn Loder, Times Staff Writer
Posted: Apr 30, 2008 01:38 PM

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TECO Energy executives Wednesday sought to reassure investors that the company remains healthy despite a dismal first quarter. "I feel great about the long-term prospects of this company," Sherrill Hudson, chairman and chief executive officer, said at the Tampa company's annual meeting. Hudson also announced a 2.6 percent increase in the quarterly dividend, to 20 cents. The company's outlook appears gloomy in the short term, but John Ramil, president and chief operating officer, offered investors hope for 2009 and 2010, predicting a stronger market for coal, a recovery in the Florida economy and "rate relief" at its two utilities, Tampa Electric and Peoples Gas. That's no relief for customers, who would see higher utility bills.