The Paducah Sun
The Paducah Sun
Paducah, Kentucky
Thursday, November 07, 2002

Business Briefs

USEC elects board, sets dividend

Shareholders of Bethesda, Md.-based USEC Inc. elected board members to one-year terms Wednesday and declared a quarterly dividend of 13.75 cents per share, payable Dec. 15 to shareholders of record Nov. 22.

President and Chief Executive Officer William "Nick" Timbers said the firm is evaluating economic packages from Paducah and Piketon, Ohio, for a plant to test gas centrifuge technology, which will eventually replace the outdated gaseous diffusion process used in Paducah. USEC is expected to make a decision by early December.

The winner of the test plant will have an advantage in landing a 500-job commercial plant by the end of the decade, the firm says. Timbers said he is "optimistic" the test plant will help USEC acquire the $1 billion to $1.5 billion needed for the commercial plant.