PORTLAND, Ore.--(BUSINESS WIRE)--Apr. 25, 2018--
On April 25, 2018, the board of directors of Portland General Electric
Company (NYSE: POR) approved a 6.6 percent increase in the regular
quarterly common stock dividend to 36.25 cents per share, up from last
quarter’s dividend of 34 cents per share. The dividend is payable on or
before July 16, 2018, to shareholders of record at the close of business
on June 25, 2018.
“Today’s declaration marks our twelfth consecutive annual dividend
increase since going public in 2006,” said Maria Pope, PGE’s president
and CEO. “It is reflective of our commitment to provide a competitive
return for our investors; strong business fundamentals; and long-term
growth as we deliver reliable and clean energy and invest in a more
resilient and secure grid.”
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 five to seven 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 877,000
customers in 51 cities. For more than 125 years, PGE has been delivering
safe, reliable energy to Oregonians. With approximately 2,900 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.
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Source: Portland General Electric
Portland General Electric
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Erdmann, 503-464-8790
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