Portland General Electric declares dividend

Rhea-AI Summary

Portland General Electric Company (NYSE: POR) announced a quarterly dividend of 40.75 cents per share, approved on October 28, 2020. The dividend is set to be paid on or before January 15, 2021 to shareholders who are on record by December 28, 2020. PGE targets a long-term dividend payout ratio of 60 to 70% based on capital needs and financial performance.

Positive

• Quarterly dividend of 40.75 cents per share confirmed.
• Long-term dividend payout ratio target of 60 to 70% indicates company confidence.

Negative

• None.

PORTLAND, Ore., Oct. 28, 2020 /PRNewswire/ -- On October 28, 2020, 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 January 15, 2021 to shareholders of record at the close of business on December 28, 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 approximately 900,000 customers with a service area population of 2 million Oregonians in 51 cities. PGE has 16 generation plants in five Oregon counties, 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 2019, PGE, employees, retirees and the PGE Foundation donated $4.7 million and volunteered 32,900 hours with more than 700 nonprofits  across Oregon. For more information visit portlandgeneral.com/newsroom.

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-301162260.html

SOURCE Portland General Company

FAQ

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

Portland General Electric announced a quarterly dividend of 40.75 cents per share.

When will the dividend for POR be paid?

The dividend for Portland General Electric will be paid on or before January 15, 2021.

What is the record date for the dividend payment of POR?

The record date for the dividend payment is December 28, 2020.

What is the long-term dividend payout ratio target for POR?

Portland General Electric targets a long-term dividend payout ratio of 60 to 70%.