GREAT FALLS, Mont., May 21 /PRNewswire/ -- ENERGY WEST INCORPORATED, (Nasdaq: EWST), a diversified natural gas utility. retail and wholesale propane and energy marketing company serving 40,000 customers in the Rocky Mountain West announced today that it had increased shareholder dividends for the 23rd consecutive year. The company also announced earnings for the first nine months and the third quarter of fiscal 1999, ending March 31,1998. The company, formed in 1909 as Great Falls Gas Company, is celebrating the 90th anniversary of its incorporation this month. DIVIDENDS On March 26, 1999 the diversified company paid a dividend of 11.5 cents per share. On May 20, 1999, the company declared a dividend of 12 cents per share, payable on June 26,1999 to shareholders of record on June 11, 1999. The annual dividend rate is 48 cents per share or 4.3% higher than one year ago. The June dividend will be the 156th consecutive dividend paid by the company, which has paid dividends each year since 1944. The company has increased the dividend every year since 1977. Compound annual growth in dividends the past ten years is 7.2%. FIRST NINE MONTHS FY 99 RESULTS Earnings for the first nine months of fiscal 1999 were $1,356,140 on total revenues of $40,033,080. The same period earnings and revenues for fiscal 1998 were $1,576,531 and $33,291,275 respectively. Earnings per share for the nine months were 56 cents per share as compared to 66 cents in the same period last fiscal year. The decrease in earnings is primarily due to warmer weather than last year, offset by increased gas trading margins and the company's first electric trading margins and decreased interest expense. Expense increases are primarily due to additional staff in marketing and safety operations and settlement of a sales and use tax audit related to Arizona operations. Weather patterns in all utility and retail propane areas were substantially warmer than normal and warmer than last year. If the company had experienced normal weather in its service territories, gross margins are estimated to be approximately $650,000 higher than actual margins. QUARTERLY RESULTS For the quarter ending March 31, 1999, consolidated earnings and revenues were $1,289,656 and $17,749,185 respectively. The corresponding three month period last fiscal year provided earnings and revenues of $1,441,524 and $15,920,657 respectively. ENERGY WEST, Inc. reported consolidated net income of 53 cents per share for the quarter as compared to 60 cents per share for the same quarter last fiscal year. The decrease in net income in the third quarter of fiscal 1999 was due primarily to higher personnel expense related to the company's marketing and safety efforts. Margins were approximately the same for the third quarters of both fiscal years. Utility and retails margins were lower due to warmer weather, but were offset by electric margins and higher margins from gas trading operations. Contact: Edward J. Bernica, Vice-President and CFO or William J. Quast, Vice-President. For additional information or clarification or to enroll in the Company's dividend reinvestment plan, please call Mr. Bernica at 406-791-7500, extension 543, E-mail Address EJBernica@ewst.com or Mr. Quast at extension 502, E-mail Address WJQuast@ewst.com or call 1-800-570-5688. In order to enhance investor communications ENERGY WEST has a home page presence an the Internet World Wide Web. The "address," or URL is http://www.ewst.com  