PPL Corporation - PPL STOCK NEWS

PPL Capital Funding, Inc. has extended the deadlines for its tender offers to purchase outstanding debt securities due to regulatory requirements and the recent Juneteenth holiday. The Early Tender Date and Withdrawal Deadline are now set for June 28, 2021, while the Expiration Date is July 13, 2021. The tender offers include a maximum purchase price of $1 billion for selected notes due in 2043, 2044, 2047, 2030, and 2026. The company aims to maintain compliance with the minimum tender offer periods as mandated by securities regulations.

PPL Corporation (NYSE: PPL) announced that David J. Bonenberger will be the president of The Narragansett Electric Company following PPL's planned acquisition of the Rhode Island utility from National Grid. Bonenberger, with nearly 40 years of experience, has led operational excellence in PPL Electric Utilities. Under his leadership, the team aims to enhance energy reliability and support Rhode Island's clean energy goals. The acquisition is pending regulatory approval, and a comprehensive leadership team from National Grid has been appointed to support Bonenberger.

PPL Capital Funding, Inc. has initiated Tender Offers to buy outstanding Senior Notes for cash, comprising:

• Any and all of 4.200%, 3.500%, 3.400%, and 3.950% Senior Notes.
• Up to $1 billion of 4.700%, 5.000%, 4.000%, 4.125%, and 3.100% Senior Notes.

The expiration date is set for July 12, 2021, while early tender offers expire on June 25, 2021. Payments will include accrued interest, and the company may adjust the purchase price or terms. Lead dealer managers include J.P. Morgan, Barclays, and Morgan Stanley.

PPL Corporation (NYSE: PPL) has completed the sale of its U.K. utility business, Western Power Distribution, to National Grid for £7.8 billion, translating to approximately $10.7 billion in cash proceeds. The net proceeds post-taxes and fees are expected around $10.4 billion. This strategic move is part of PPL's plan to focus on U.S. growth. Additionally, PPL is set to acquire The Narragansett Electric Company for $3.8 billion by March 2022, using approximately $6.6 billion from the transactions to reduce debt and explore growth opportunities.

PPL Electric Utilities is prepared for the 2021 Atlantic hurricane season, which NOAA predicts will have between 13 to 20 named storms, including three to five major hurricanes. Serving 1.4 million customers, PPL has proactively invested in infrastructure improvements such as automated sensors, smart grid technology, and stronger utility poles. These efforts have helped avoid over one million outages since 2015 and reduced customer outages by 30% since 2011. The company prioritizes grid reliability and continues to innovate for improved service.

PPL Electric Utilities urges customers to implement energy-saving methods as temperatures rise, accounting for 12% of total home energy costs. They recommend practical tips like using blinds to block sunlight, optimizing appliance usage, and investing in Wi-Fi-enabled smart thermostats, which can save up to 10% annually. Insulating attics and sealing gaps around windows can further reduce heating and cooling expenses by an estimated 15%. PPL Electric serves over 1.4 million customers in Pennsylvania, emphasizing reliability and customer service.

PPL Corporation (NYSE: PPL) announced a quarterly common stock dividend of $0.4150 per share, payable on July 1, 2021, to shareholders of record as of June 10, 2021. Headquartered in Allentown, Pennsylvania, PPL is a leading player in the U.S. utility sector, serving approximately 10 million customers across the U.S. and the U.K. The company emphasizes reliability and superior customer service, supported by a workforce of over 12,000 employees. This dividend reflects PPL's commitment to delivering value for its shareholders.

PPL Corporation (NYSE: PPL) reported its commitment to delivering reliable energy during the COVID-19 pandemic in its annual meeting on May 18, 2021. CEO Vincent Sorgi highlighted the company's $3 billion investment in infrastructure and $2 million in COVID-19 relief. Strategic transactions, including the sale of its UK utility to National Grid and acquiring The Narragansett Electric Company, are expected to enhance PPL's growth and financial profile. The company aims to achieve industry-leading performance while fostering community engagement and sustaining a diverse workplace.

PPL Corporation (NYSE: PPL) reported a net loss of $1.84 billion, or $2.39 per share, for Q1 2021, a sharp decline from earnings of $554 million, or $0.72 per share, in Q1 2020. Adjusted earnings from ongoing operations increased to $219 million, or $0.28 per share, from $206 million, or $0.27. The loss was mainly due to a non-cash net loss related to the sale of its U.K. utility business, Western Power Distribution, sold for £7.8 billion. PPL aims to close this sale by July and expects to finalize an acquisition of The Narragansett Electric Company by March 2022.