Portland General Electric declares dividend

Rhea-AI Summary

Portland General Electric (NYSE: POR) declared a 5.5% increase in its annual dividend to $0.09 per share, with a quarterly common stock dividend of 43 cents per share. The dividend is payable on or before July 15, 2021 to shareholders of record by June 25, 2021. The company aims for a long-term dividend payout ratio of 60% to 70% based on capital needs and financial performance. PGE serves around 900,000 customers in Oregon and is committed to building a clean energy future.

Positive

• Dividend increased by 5.5%, enhancing shareholder income.
• Quarterly dividend of 43 cents per share demonstrates financial stability.
• Long-term payout ratio target of 60-70% indicates confidence in ongoing performance.

Negative

• None.

PORTLAND, Ore., April 28, 2021 /PRNewswire/ -- On April 28, 2021, the board of directors of Portland General Electric Company (NYSE: POR) approved an increase in the annual dividend of 5.5%, or $0.09 per share, declaring a quarterly common stock dividend of 43 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 quarterly dividend is payable on or before July 15, 2021 to shareholders of record at the close of business on June 25, 2021. 

About Portland General Electric Company
Portland General Electric (NYSE: POR) is a fully integrated energy company based in Portland, Oregon, with operations across the state. The company serves approximately 900,000 customers with a service area population of 2 million Oregonians in 51 cities. PGE owns 16 generation plants across Oregon and other Northwestern states and maintains and operates 14 public parks and recreation areas. For over 130 years, PGE has delivered safe, affordable and reliable energy to Oregonians. Together with its customers, PGE has the No. 1 voluntary renewable energy program in the U.S. PGE and its 3,000 employees are working with customers to build a clean energy future. In 2020, PGE, employees, retirees and the PGE Foundation donated $5.6 million and volunteered 18,200 hours with more than 400 nonprofits across Oregon. For more information visit portlandgeneral.com/our-company/news-room.

Source: Portland General Company (POR)

Media Contact:
Brianne Hyder
Corporate Communications
Phone: 503-464-8596

Investor Contact:
Jardon Jaramillo
Investor Relations
Phone: 503-464-7051

View original content:http://www.prnewswire.com/news-releases/portland-general-electric-declares-dividend-301279660.html

SOURCE Portland General Company

FAQ

What is the new dividend amount for POR shareholders?

Portland General Electric increased its annual dividend to $0.09 per share.

When will the quarterly dividend be paid for POR?

The quarterly dividend will be payable on or before July 15, 2021.

What is the record date for POR's dividend payment?

The record date for the dividend payment is June 25, 2021.

What is Portland General Electric's target dividend payout ratio?

PGE targets a long-term dividend payout ratio of 60% to 70%.