PORTLAND, Ore.--(BUSINESS WIRE)--
On April 26, 2017, the board of directors of Portland General Electric
Company (NYSE: POR) approved a 6.3 percent increase in the regular
quarterly common stock dividend to 34 cents per share, up from last
quarter's dividend of 32 cents per share. The dividend is payable on or
before July 17, 2017, to shareholders of record at the close of business
on June 26, 2017.
"Today's declaration marks our eleventh consecutive annual dividend
increase since going public in 2006," said Jim Piro, PGE's president and
chief executive officer. "Our long-term focus on operational excellence,
including our continued investment in our system to keep it safe and
resilient, enabled us to take another step forward in meeting our
commitment to shareholders to deliver a competitive dividend within our
industry."
The company's dividend is approved quarterly by the board of directors
based on financial performance, capital requirements and other factors
influencing dividend decisions. Over the long term, PGE targets a
sustainable annual dividend increase of 5 to 7 percent and a dividend
payout ratio of 50 to 70 percent.
About Portland General Electric Company
Portland General Electric (NYSE: POR) is a fully-integrated energy
company based in Portland, Oregon, serving approximately 865,000
customers in 51 cities. For more than 125 years, PGE has been delivering
safe, reliable energy to Oregonians. With 2,700 employees across the
state, PGE is committed to building a cleaner, more efficient energy
future. Together with its customers, PGE has the number one voluntary
renewable energy program in the U.S. For more information visit PortlandGeneral.com.
POR-F
Source: Portland General Electric Company
Forward-Looking Statements
In addition to the historical information contained in this press
release, this press release contains (and oral communications made by
Portland General Electric Company may contain) statements that relate to
future events and expectations and, as such, constitute forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Any statements that express, or involve discussions
as to, expectations, beliefs, plans, objectives, outlook, assumptions,
or future events or performance, often, but not always, through the use
of words or phrases such as "anticipates," "believes," "estimates,"
"expects," "intends," "plans," "predicts," "projects," "targets,"
"continues," or similar expressions, are not statements of historical
facts and may be forward-looking. Forward-looking statements include
those regarding PGE's expectations with respect to the timing and amount
of dividend increases and payouts, and its ability to pay and increase
its dividend. Forward-looking statements are not guarantees of future
performance and involve estimates, assumptions, risks, and
uncertainties. Actual results, performance, or outcomes may differ
materially from the results discussed in the statements. In addition to
any assumptions and other factors and matters referred to specifically
in connection with such forward-looking statements, factors that could
cause actual results or outcomes to differ materially from those
contained in such statements are included in PGE's Annual Report on Form
10-K for the year ended December 31, 2016, which was filed with the U.S.
Securities and Exchange Commission on February 17, 2017, and subsequent
reports filed by PGE with the U.S. Securities and Exchange Commission.
Dividend declarations and the dividend rate are at the discretion of
PGE's board of directors and depend on numerous factors, including those
described in PGE's filings with the U.S. Securities and Exchange
Commission. Future dividends may be affected by current and projected
capital requirements, PGE's liquidity position, capital expenditures,
changes in earnings or cash flow, the competitiveness of the dividend
yield, credit rating impacts, legal requirements, changes in laws and
regulations, and other factors. Any forward-looking statement speaks
only as of the date on which such statement is made. PGE disclaims any
obligation to update publicly any forward-looking information, whether
in response to new information, future events, or otherwise, except as
required by applicable law.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170426006812/en/
Portland General Electric Company
Media Contact:
Melanie
Moir, 503-464-8790
Corporate Communications
or
Investor
Contact:
Chris Liddle, 503-464-7458
Investor Relations
Source: Portland General Electric Company
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