PORTLAND, Ore., April 24, 2019 /PRNewswire/ -- On Apr. 24, 2019, the board of directors of Portland General Electric Company (NYSE: POR) approved an increase in the annual dividend of 6.3%, or 9 cents per share, for a quarterly common stock dividend of 38.5 cents per share.
The company's dividend is evaluated based on capital requirements and financial performance. PGE targets a dividend payout ratio of 60 to 70% over the long term.
The dividend is payable on or before July 15, 2019 to shareholders of record at the close of business on June 25, 2019.
About Portland General Electric Company
Portland General Electric (NYSE: POR) is a fully integrated energy company based in Portland, Oregon, serving approximately 887,000 customers in 51 cities. For 130 years, PGE has been delivering safe, affordable and reliable energy to Oregonians. Together with its customers, PGE has the No. 1 voluntary renewable energy program in the U.S. With more than 3,000 employees across the state, PGE is committed to helping its customers and the communities it serves build a clean energy future. For more information visit PortlandGeneral.com/CleanVision.
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SOURCE Portland General Company