The Board of Directors of Puget Energy (NYSE:PSD) today (July 13) declared quarterly dividends on the company's common stock.

A quarterly dividend of 25 cents per share was declared on Puget Energy's common stock, payable August 15, 2006, to shareholders of record as of the close of business, July 24, 2006. The dividend rate for Puget Energy common stock was unchanged. The dividend will be the 252nd consecutive quarterly dividend paid by Puget Energy and its predecessor companies.

The Board of Directors of Puget Sound Energy, which is a wholly-owned subsidiary of Puget Energy, also declared quarterly dividends on Puget Sound Energy preferred stock at rates shown below:

     Quarterly dividends declared 07/13/2006 on Puget Sound Energy
                           preferred stock:

SERIES  DIVIDEND  PAYMENT DATE      RECORD DATE
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4.70%   $1.175    Aug. 15, 2006     July 24, 2006
4.84%   $1.21     Aug. 15, 2006     July 24, 2006