UGI Paid $40 Million on Improvements Last Year, Quintuple that Amount to Investors

When I humbly tweeted UGI asking them to hold back some dividend payments and spend more this year on fixing the aging pipes under homes and businesses in Allentown, I didn’t know things that make the negligence that killed 5 city residents last year even more despicable:

  • UGI has paid dividends EVERY YEAR SINCE 1885.  So their dividend streak is about as old as the pipes that need replacing.
  • Dividend payments to investors last year totaled $207,000,000.  $207 million dollars.

Responding to my tweet, the PR operative charged with doing such things pointed out that UGI spent $40 million last year replacing old pipes. Excuse me if I don’t quite understand how that absolves the company from having totally corrupt priorities. Last year, when 5 people died because they had the misfortune of living above UGI’s compromised pipes, UGI, formerly United Gas Improvements, paid out $40 million on said improvements and  five times that amount to investors in the form of dividends.  That’s not technically a crime, but it probably should be.

4 thoughts on “UGI Paid $40 Million on Improvements Last Year, Quintuple that Amount to Investors”

  1. Pingback: UGI’s Priorities

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