Portland General Electric declares dividend

Rhea-AI Summary

On July 29, 2020, Portland General Electric Company (NYSE: POR) announced a 5.8% increase in its annual dividend, raising it by 9 cents per share to 40.75 cents per share quarterly. The dividend is payable by October 15, 2020 to shareholders on record as of September 25, 2020. This decision reflects the company's commitment to maintaining shareholder returns despite uncertainties from the COVID-19 pandemic.

Positive

• 5.8% annual dividend increase.
• Quarterly dividend raised to 40.75 cents per share.
• Commitment to shareholder returns despite pandemic uncertainty.

Negative

• Uncertainties related to the COVID-19 pandemic may impact future dividends.

PORTLAND, Ore., July 29, 2020 /PRNewswire/ -- On July 29, 2020, the board of directors of Portland General Electric Company (NYSE: POR) approved an increase in the annual dividend of  5.8%, or nine cents per share, declaring a quarterly common stock dividend of 40.75 cents per share.

Last quarter, the dividend remained consistent with previous quarters, reflecting uncertainties related to the onset of the COVID-19 pandemic. At that time, the board pledged to reevaluate the dividend quarterly.

The quarterly dividend is payable on or before October 15, 2020 to shareholders of record at the close of business on September 25, 2020. 

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 895,000 customers with a service area population of 1.9 million Oregonians in 51 cities. PGE has 16 generation plants in five Oregon counties, and maintains and operates 13 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 2019, PGE, employees, retirees and the PGE Foundation donated $4.7 million and volunteered 32,900 hours with more than 700 nonprofits annually across Oregon. For more information visit portlandgeneral.com/news.

Source: Portland General Company (POR)

Media Contact:
Andrea Platt
Corporate Communications
Phone: 503-464-7980

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

View original content:http://www.prnewswire.com/news-releases/portland-general-electric-declares-dividend-301102719.html

SOURCE Portland General Company

FAQ

What is the new quarterly dividend amount for Portland General Electric (POR)?

The new quarterly dividend amount is 40.75 cents per share.

When will the dividend be paid to shareholders of POR?

The dividend will be paid on or before October 15, 2020.

What was the percentage increase in the annual dividend for POR?

The annual dividend increased by 5.8%.

When is the record date for shareholders to receive the dividend?

The record date is September 25, 2020.