News Release
Jan. 04, 2001


CHARLOTTE, N.C. -- Duke Energy's board of directors today announced its quarterly cash dividend on the company's common stock. The dividend is payable on March 16, 2001, to shareholders of record on Feb. 16, 2001.

The dividend has been adjusted from 55 cents per share to 27.5 cents per share to reflect a previously announced two-for-one stock split. On Jan. 26, Duke Energy common shareholders will receive one additional share of common stock for each share of Duke Energy common stock held on Jan. 3. The split is contingent on approvals by the North Carolina Utilities Commission and the Public Service Commission of South Carolina, which are expected within several days.

This is the 75th consecutive year that Duke Energy has paid quarterly cash dividends on its common stock. The Duke Energy board of directors also announced the company would pay quarterly dividends on its preferred stocks on March 16, 2001, to shareholders of record on Feb. 16, 2001.

Duke Energy, a diversified multinational energy company, creates value for customers and shareholders through an integrated network of energy assets and expertise. Duke Energy manages a dynamic portfolio of natural gas and electric supply, delivery and trading businesses -- generating revenues of nearly $22 billion in 1999. Duke Energy, headquartered in Charlotte, N.C., is a Fortune 100 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available on the Internet at:







Contact: Danny Gibbs
Phone: 704/373-6680
24 Hour Phone: 704/382-8333