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Ameren Corporation (NYSE: AEE), headquartered in St. Louis, Missouri, is a Fortune 500 company that enhances the quality of life for millions of people throughout Illinois and Missouri. Ameren Illinois provides electric distribution and transmission services, as well as natural gas distribution services, while Ameren Missouri delivers vertically integrated electric services, boasting a generating capacity of over 10,200 megawatts, and natural gas distribution services. Together, they serve 2.4 million electric and over 900,000 natural gas customers across an expansive 64,000 square-mile area.
Ameren's core operations include owning rate-regulated generation, transmission, and distribution networks that deliver electricity and natural gas. They are the largest electric utility in Missouri and the second largest in Illinois, and rank among the nation’s largest investor-owned electric or gas utilities. Ameren’s infrastructure investments and strategic initiatives consistently aim to modernize the grid, integrate renewable energy, and enhance reliability and customer service.
Recent milestones include the pricing of $350 million aggregate principal amount of 5.25% first mortgage bonds due 2054 by Ameren Missouri to fund capital expenditures and refinance short-term debt. Ameren Missouri also announced future plans to allocate $205 million in rebates and incentives as part of their energy efficiency initiatives, aimed at making energy usage more efficient and cost-effective for customers.
Ameren is continually focused on financial growth and sustainability. The company reported 2023 diluted earnings per share (EPS) of $4.38, with a 2024 guidance range established at $4.52 to $4.72 per diluted share. Ameren aims to achieve a compound annual growth rate in EPS of 6% to 8% from 2024 through 2028. Their sustainability efforts are underscored by a commitment to a cleaner energy future, as highlighted in their 2024 Sustainability Report.
Ameren’s strategic grid modernization includes the development of an $800 million Castle Bluff Energy Center to bolster energy reliability, and the approval to build approximately 400 MW of solar energy capacity to enhance renewable energy generation. Their investments in advanced technologies and infrastructure are designed to ensure reliable, safe, affordable, and cleaner energy for their customers.
Ameren remains dedicated to corporate responsibility, evidenced by their recognition as a 2024 Tree Line USA utility for their urban forest management efforts. This commitment to the environment, combined with consistent financial performance and strategic growth initiatives, positions Ameren Corporation as a leader in the energy sector.
Ameren Corporation (NYSE: AEE) announced the promotion of Mark Birk to chairman and president of Ameren Missouri effective January 1, 2022. He succeeds Marty Lyons, who will become Ameren's CEO on the same date. Birk, a 35-year veteran of the company, previously served as senior vice president for customer and power operations. Throughout his career, he has held numerous leadership roles focusing on operational excellence and customer service for over 1 million customers in Missouri.
Ameren Corporation (NYSE: AEE) has announced the public offering of $500 million in senior notes at a 1.95% interest rate, due in 2027. The offering is priced at 99.981% of its principal amount and is set to close on November 18, 2021, pending customary conditions. The net proceeds will be utilized for general corporate purposes, primarily to repay short-term debt. Joint book-running managers for the offering include Goldman Sachs, Mizuho Securities, Morgan Stanley, and TD Securities.
Ameren Corporation (NYSE: AEE) reported a strong third quarter 2021 net income of $425 million, or $1.65 per diluted share, up from $367 million, or $1.47 per diluted share in Q3 2020. The growth stems from increased infrastructure investments and improved electric retail sales, benefiting from economic recovery and warmer summer temperatures. The company also raised its full-year earnings guidance to $3.75 to $3.95 per share, reflecting ongoing strategic execution. For the first nine months of 2021, net income reached $865 million, or $3.36 per diluted share, compared to $756 million, or $3.04 per diluted share in the same period last year.
Ameren Corp. (NYSE:AEE) will host a conference call on November 4, 2021, at 9 a.m. Central Time to discuss its third quarter 2021 earnings and guidance. The call will be led by Warner L. Baxter, chairman, president, and CEO, alongside Michael L. Moehn, executive vice president and CFO. The call will be accessible via webcast on AmerenInvestors.com, with supporting materials available in the Investor News and Events section. A replay will be available for one year starting an hour after the call concludes.
Ameren Corporation (NYSE: AEE) has announced a significant leadership change, effective January 1, 2022. Warner Baxter will transition to the role of executive chairman, while Marty Lyons will take over as president and CEO. Baxter praised Lyons as uniquely qualified to lead during this transformative period. Lyons has been with Ameren since 2001 and has held various senior roles, acquiring expertise in operational and financial management. The Board expressed strong confidence in Lyons' abilities to continue providing value to stakeholders and executing the company's strategic goals, including achieving net zero carbon emissions by 2050.
The board of directors of Ameren Corporation (NYSE: AEE) has declared a quarterly cash dividend of 55 cents per share on its common stock, payable on December 31, 2021. Shareholders of record as of December 8, 2021 will receive this payment. Additionally, regular quarterly cash dividends were declared for all classes of preferred stock by Ameren Missouri and Ameren Illinois Company, with payment dates set for February 15, 2022 and February 1, 2022, respectively.
The board of directors of Ameren Corporation (AEE) has declared a quarterly cash dividend of 55 cents per share, payable on Sept. 30, 2021, to shareholders on record as of Sept. 8, 2021. Additionally, Union Electric Company, operating as Ameren Missouri, will distribute regular quarterly cash dividends on its preferred stock, payable on Nov. 15, 2021, for shareholders of record by Oct. 15, 2021. Ameren Illinois also announced similar preferred stock dividends, payable on Nov. 1, 2021, to those on record by Oct. 11, 2021.
Ameren Missouri announced that its Callaway Energy Center is now operating at full power, delivering carbon-free energy. This follows a planned outage for generator rewinding. Ameren aims for net-zero carbon emissions by 2050, targeting a 50% reduction by 2030 and 85% by 2040 from 2005 levels. With over 100 years of service, Ameren Missouri maintains some of the lowest electric rates in the U.S., providing services to 1.2 million electric and 132,000 gas customers. The company's focus is on sustainable operations and affordable energy rates.
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