Piedmont Natural Gas Increases Dividend for Thirtieth Consecutive Year

CHARLOTTE, N.C., March 6 /PRNewswire-FirstCall/ -- The Board of Directors of Piedmont Natural Gas NYSE: PNY is pleased to announce a dividend increase for the 30th consecutive year. At its regularly scheduled meeting held today, the Board declared a quarterly dividend on Common Stock of 26 cents per share, a 4% increase over the previous quarterly dividend of 25 cents per share. The increased dividend is payable April 15, 2008, to shareholders of record at the close of business on March 25, 2008.

At the company's annual meeting of shareholders held today, shareholders re-elected five board members: Malcolm E. Everett III, Frank B. Holding, Jr., Minor M. Shaw, Muriel W. Sheubrooks, and Frankie T. Jones, Sr. Shareholders also ratified the appointment of Deloitte & Touche LLP as the company's auditors for 2008.

About Piedmont Natural Gas

Piedmont Natural Gas NYSE: PNY is an energy services company primarily engaged in the distribution of natural gas to more than one million residential, commercial and industrial utility customers in North Carolina, South Carolina and Tennessee, including 62,000 customers served by municipalities who are wholesale customers. Our subsidiaries are invested in joint venture, energy-related businesses, including unregulated retail natural gas marketing, interstate natural gas storage and intrastate natural gas transportation. More information about Piedmont Natural Gas is available on the Internet at http://www.piedmontng.com .