AVANGRID Declares Quarterly Dividend; Sets Annual Meeting Date

Rhea-AI Summary

AVANGRID, Inc. (NYSE:AGR) has declared a quarterly dividend of $0.44 per share on its Common Stock, payable on April 3, 2023 to shareholders of record on March 1, 2023. Additionally, the company announced that its 2023 Annual Meeting of Shareholders will take place on June 13, 2023. The deadline for shareholder proposals for consideration is set for April 14, 2023. AVANGRID operates with approximately $40 billion in assets across 24 U.S. states, primarily through its two divisions: Avangrid Networks and Avangrid Renewables. The company serves over 3.3 million customers and employs approximately 7,000 people.

Positive

• Quarterly dividend of $0.44 per share enhances returns for shareholders.
• Strong asset base of approximately $40 billion indicates financial stability.
• Recognition as one of America’s best corporate citizens boosts brand reputation.

Negative

• None.

ORANGE, Conn.--(BUSINESS WIRE)-- Today AVANGRID, Inc. (NYSE:AGR) announced that its Board of Directors declared a quarterly dividend of $0.44 per share on its Common Stock. This dividend is payable April 3, 2023 to shareholders of record at the close of business on March 1, 2023.

AVANGRID also announced that the date of its 2023 Annual Meeting of Shareholders will be Tuesday, June 13, 2023. Because the 2023 Annual Meeting of Shareholders will be held more than 30 days prior to the anniversary date of the previous annual meeting of shareholder, the deadlines set forth in AVANGRID's definitive proxy statement filed with the U.S. Securities and Exchange Commission (the "SEC") on June 2, 2022 for shareholder proposals for consideration at the 2023 Annual Meeting of Shareholders no longer apply.

The new deadline is the close of business on April 14, 2023 (which AVANGRID has determined to be a reasonable time before it expects to begin to print and distribute its proxy materials prior to the 2023 Annual Meeting of Shareholders) for proposals to be considered for inclusion in this year’s proxy materials for the 2023 Annual Meeting of Shareholders pursuant to Rule 14a-8 under the Exchange Act.

Shareholders who intend to present proposals for action at the 2023 Annual Meeting of Shareholders must ensure that such proposals are received by the Corporation’s Secretary at Avangrid, Inc., 180 Marsh Hill Road, Orange, Connecticut 06477, on or before the close of business on April 14, 2023. In addition to complying with this deadline, shareholder proposals must comply with all applicable SEC rules, including Rule 14a-8, and the requirements set forth in AVANGRID’s Amended and Restated Bylaws and applicable law.

About AVANGRID: AVANGRID, Inc. (NYSE: AGR) aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $40 billion in assets and operations in 24 U.S. states, AVANGRID has two primary lines of business: Avangrid Networks and Avangrid Renewables. Avangrid Networks owns and operates eight electric and natural gas utilities, serving more than 3.3 million customers in New York and New England. Avangrid Renewables owns and operates a portfolio of renewable energy generation facilities across the United States. AVANGRID employs approximately 7,000 people and has been recognized by JUST Capital in 2021 and 2022 as one of the JUST 100 companies – a ranking of America’s best corporate citizens. In 2022, AVANGRID ranked second within the utility sector for its commitment to the environment and the communities it serves. The company supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2022 for the fourth consecutive year by the Ethisphere Institute. For more information, visit www.avangrid.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230216005771/en/

Investors:

Alvaro Ortega

alvaro.ortega@avangrid.com

207.629.7412

Source: AVANGRID, Inc.

FAQ

What is the dividend amount declared by AVANGRID, Inc.?

AVANGRID, Inc. has declared a quarterly dividend of $0.44 per share.

When is the dividend payable to shareholders?

The dividend is payable on April 3, 2023.

What is the deadline for shareholder proposals for AVANGRID's 2023 Annual Meeting?

The deadline for shareholder proposals is April 14, 2023.

When will AVANGRID's 2023 Annual Meeting of Shareholders take place?

The 2023 Annual Meeting will be held on June 13, 2023.