Portland General Electric declares dividend

Rhea-AI Summary

On October 26, 2021, Portland General Electric Company (NYSE: POR) announced a quarterly common stock dividend of 43 cents per share. This dividend will be distributed to shareholders on or before January 18, 2022, to those on record by December 27, 2021. The company aims for a dividend payout ratio of 60% to 70% based on capital requirements and financial performance. Portland General Electric serves approximately 900,000 customers across Oregon and is focused on achieving sustainable energy goals, including a 100% reduction in GHG emissions by 2040.

Positive

• Quarterly dividend set at 43 cents per share
• Targets long-term dividend payout ratio of 60-70%
• Commitment to significant GHG emission reductions by 2040

Negative

• None.

PORTLAND, Ore., Oct. 26, 2021 /PRNewswire/ -- On October 26, 2021, the board of directors of Portland General Electric Company (NYSE: POR) declared 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 January 18, 2022, to shareholders of record at the close of business on December 27, 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, with goals of achieving at least an 80% reduction in greenhouse gas (GHG) emissions by 2030 and 100% reduction in GHG emissions by 2040. In 2021, PGE became the first U.S. utility to join The Climate Pledge. 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 the eighth year in a row PGE achieved a perfect score on the 2021 Human Rights Campaign Foundation's Corporate Equality Index, a national benchmarking survey and report on corporate policies and practices related to LGBTQ workplace equality. For more information visit www.PortlandGeneral.com/news.

Source: Portland General Company (POR)

Media Contact:
Mike Houlihan
Corporate Communications
Phone: 503-504-9706

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

View original content:https://www.prnewswire.com/news-releases/portland-general-electric-declares-dividend-301409181.html

SOURCE Portland General Company

FAQ

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

Portland General Electric (POR) declared a quarterly dividend of 43 cents per share.

When is the dividend payment date for POR shareholders?

The dividend is payable on or before January 18, 2022.

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

Shareholders must be on record by December 27, 2021, to receive the dividend.

What is the target dividend payout ratio for Portland General Electric (POR)?

The target dividend payout ratio is 60% to 70% over the long term.

What are Portland General Electric's sustainability goals?

PGE aims for a 100% reduction in greenhouse gas emissions by 2040.