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Press Release

Piedmont Increases Dividend for 34th Consecutive Year 03/08/2012

CHARLOTTE, N.C., March 8, 2012 - The Board of Directors of Piedmont Natural Gas (NYSE: PNY) today approved an increase in the Company's dividend for the 34th consecutive year. At its regularly scheduled meeting, the Board declared a quarterly dividend on Common Stock of 30 cents per share, a 3.4 percent increase over the previous quarterly dividend of 29 cents per share. The increased dividend is payable April 13, 2012, to shareholders of record at the close of business on March 23, 2012. Also, at today's Annual Meeting of Shareholders, four members of the Board of Directors were re-elected: E. James Burton, John W. Harris, Aubrey B. Harwell, Jr., and David E. Shi.

Conference Call
Piedmont Natural Gas will conduct its 2012 first quarter conference call, broadcast live over the internet on Monday, March 12, 2012 at 11:00 a.m. Eastern Time. Hosting the conference call will be Chairman, President and Chief Executive Officer Thomas E. Skains. Simply log on to the web at www.piedmontng.com and click on Investors, then on Presentations. The conference call will be archived on the website.

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 53,000 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.

SOURCE: Piedmont Natural Gas

Press Contact: David Trusty
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