Portland General Electric declares dividend

Rhea-AI Summary

On July 28, 2021, Portland General Electric Company (NYSE: POR) announced a quarterly dividend of 43 cents per share. This dividend is part of the company's strategy to maintain a payout ratio of 60 to 70% based on its capital needs and financial performance. The dividend will be paid on or before October 15, 2021 to shareholders of record by September 27, 2021. With over 130 years of service, PGE provides energy to approximately 900,000 customers in Oregon, contributing to clean energy initiatives.

Positive

• Quarterly dividend of 43 cents per share enhances shareholder income.
• PGE maintains a dividend payout ratio target of 60 to 70%, indicating financial health.

Negative

• None.

PORTLAND, Ore., July 28, 2021 /PRNewswire/ -- On July 28, 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 October 15, 2021 to shareholders of record at the close of business on September 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. 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:
Mike Houlihan
Corporate Communications
Phone: 503-464-8596

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

View original content:https://www.prnewswire.com/news-releases/portland-general-electric-declares-dividend-301343351.html

SOURCE Portland General Company

FAQ

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

The dividend amount declared is 43 cents per share.

When will the dividend for POR be paid?

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

What is the record date for the POR dividend?

The record date for the dividend is September 27, 2021.

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

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

How many customers does Portland General Electric serve?

Portland General Electric serves approximately 900,000 customers.