Portland General Electric declares dividend

Rhea-AI Summary

Portland General Electric (NYSE: POR) announced a quarterly dividend of 40.75 cents per share, approved by its board on February 17, 2021. This dividend reflects the company’s commitment to maintaining a payout ratio of 60% to 70% over the long term. Shareholders of record as of March 25, 2021, will receive the payment on or before April 15, 2021. Serving approximately 900,000 customers in Oregon, PGE emphasizes affordability and reliability along with a strong focus on renewable energy.

Positive

• Quarterly dividend of 40.75 cents per share approved.
• Targeted long-term dividend payout ratio of 60% to 70%.
• Company serves approximately 900,000 customers.

Negative

• None.

PORTLAND, Ore., Feb. 17, 2021 /PRNewswire/ -- On February 17, 2021, the board of directors of Portland General Electric Company (NYSE: POR) approved a quarterly common stock dividend of 40.75 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 April 15, 2021 to shareholders of record at the close of business on March 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 www.PortlandGeneral.com/news.

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

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

Source: Portland General Company (POR)

View original content:http://www.prnewswire.com/news-releases/portland-general-electric-declares-dividend-301230397.html

SOURCE Portland General Company

FAQ

What is the dividend amount declared by Portland General Electric (POR)?

The declared dividend amount is 40.75 cents per share.

When is the dividend for POR payable?

The dividend is payable on or before April 15, 2021.

What is the record date for the POR dividend?

The record date for the dividend is March 25, 2021.

What is the targeted dividend payout ratio for Portland General Electric?

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