PORTLAND, Ore., May 13, 2009 (BUSINESS WIRE) -- The Board of Directors of Portland General Electric Company (NYSE: POR) declared a 4 percent increase in its quarterly common stock dividend, bringing the dividend to 25.5 cents per share, up from last quarter's 24.5 cents per share. Today's announcement marks the third year in a row that the Company has increased its dividend for shareholders.

"PGE is committed to providing value for our customers and shareholders," said Jim Piro, president and chief executive officer of Portland General Electric. "Today's announcement confirms that we can serve both groups well. Our strategy of making long-term investments in our core utility business meets the growing needs of our customers while delivering a competitive dividend for shareholders."

The dividend is payable on or before July 15, 2009 to shareholders of record at the close of business on June 25, 2009.

About Portland General Electric Company

Portland General Electric, headquartered in Portland, Ore., is a fully integrated electric utility that serves approximately 814,000 residential, commercial and industrial customers in Oregon. Visit our Web site at www.PortlandGeneral.com.

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Source: Portland General Electric Company

Safe Harbor Statement

Statements in this news release that relate to future plans, objectives, expectations, performance, events and the like may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include statements concerning growth opportunities, as well as other statements identified by words including, but not limited to, "will," "anticipates," "believes," "intends," "estimates," "promises," "expects," "should," "conditioned upon" and similar expressions. Investors are cautioned that any such forward-looking statements are subject to risks and uncertainties, including regulatory, operational and legal matters, as well as other factors that could affect growth opportunities. As a result, actual results may differ materially from those projected in the forward-looking statements. All forward-looking statements included in this news release are based on information available to the Company on the date hereof and such statements speak only as of the date hereof. The Company assumes no obligation to update any such forward-looking statements. Prospective investors should also review the risks and uncertainties listed in the Company's most recent Annual Report on Form 10-K and the Company's reports on Forms 8-K and 10-Q filed with the United States Securities and Exchange Commission, including Management's Discussion and Analysis of Financial Condition and Results of Operation and the risks described therein from time to time.

SOURCE: Portland General Electric Company

Portland General Electric Company
Media Contact:
Director, Corporate Communications
Gail Baker, 503-464-8693
or
Investor Contact:
Director, Investor Relations
Bill Valach, 503-464-7395

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