UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
| Date of Report (Date of Earliest Event Reported): | January 5, 2012 |
Piedmont Natural Gas Company, Inc.
__________________________________________
(Exact name of registrant as specified in its charter)
| North Carolina | 1-6196 | 56-0556998 |
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_____________________ (State or other jurisdiction |
_____________ (Commission |
______________ (I.R.S. Employer |
| of incorporation) | File Number) | Identification No.) |
| 4720 Piedmont Row Drive, Charlotte, North Carolina | 28210 | |
|
_________________________________ (Address of principal executive offices) |
___________ (Zip Code) |
| Registrant’s telephone number, including area code: | 704-364-3120 |
Not Applicable
______________________________________________
Former name or former address, if changed since last report
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01 Other Events.
On January 5, 2012, Piedmont Natural Gas Company, Inc. (the Company) entered into an accelerated share repurchase agreement with Bank of America, N.A. (BoA) for the repurchase of 800,000 shares of its outstanding common stock at an initial price of $33.77 per share. Under the terms of the accelerated share repurchase agreement, the Company repurchased 800,000 shares of its outstanding common stock from BoA; settlement occurred on January 5, 2012. The Company funded this transaction with internally generated cash and short-term borrowings. BoA will purchase an equivalent amount of shares in the open market during a period of approximately two months (the Pricing Period). The Company may receive from, or be required to pay, BoA a price adjustment based upon the volume-weighted average cost of Company common stock during the Pricing Period. Such price adjustment can be settled, at the Company’s option, in cash or in shares of its common stock.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Piedmont Natural Gas Company, Inc. | ||||
| January 9, 2012 | By: |
Jane R. Lewis-Raymond
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| Name: Jane R. Lewis-Raymond | ||||
| Title: Senior Vice President, General Counsel, Corporate Secretary and Chief Compliance and Community Affairs Officer | ||||