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DPL reports higher earnings for third quarter

By John Nolan, Staff Writer 6:21 PM Wednesday, October 28, 2009

DAYTON — DPL Inc. earned $67.9 million during the three months ended Sept. 30, or 59 cents per share, up from $48 million and 42 cents per share in the third quarter last year, the company said Wednesday, Oct. 28.

DPL, owner of the Dayton Power and Light Co., said it increased its electricity generating output by 23 percent during the latest quarter, improving profit margins and reducing the need to buy power from outside the system to meet customer demand. Controlling costs also helped to offset the effects of the economic downturn and milder than usual weather that reduced demand for electricity, said Paul Barbas, DPL’s president and chief executive officer.

Revenues declined by $7.2 million to $407.3 million, compared with $414.5 million for the third quarter of 2008.

For the first nine months of 2009, earnings were $179.2 million, or $1.58 per share, compared with $172.9 million and $1.49 a year ago. Revenues for the first nine months were $1.18 billion, down from $1.21 billion last year.

DPL’s board of directors also declared a quarterly dividend of 28.5 cents per share, payable Dec. 1 to holders of common shares of record Nov. 13, for an annual rate of $1.14 per share.

Contact this reporter at (937) 225-2242 or jnolan@DaytonDailyNews.com.

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