PPL - PPL STOCK NEWS

PPL Corporation (NYSE: PPL) has finalized agreements to divest its U.K. utility business, Western Power Distribution (WPD), to National Grid plc for £7.8 billion. Concurrently, PPL will acquire National Grid's Rhode Island utility, The Narragansett Electric Company, for $3.8 billion. This move aims to focus PPL on U.S. markets, enhancing its balance sheet and operational efficiencies. The transactions are expected to close within four months for WPD and within a year for Narragansett Electric, positioning PPL for sustainable growth and stable dividends.

PPL Corporation reported 2020 earnings of $1.47 billion ($1.91/share), down from $1.75 billion ($2.37/share) in 2019. Adjusted earnings from ongoing operations were $1.85 billion ($2.40/share), slightly below 2019's $1.81 billion ($2.45/share). The pandemic impacted sales, particularly in the U.K. and Kentucky, costing approximately $0.12/share. PPL aims to complete the sale of its U.K. utility by mid-2021, enhancing its U.S. focus. The company continues to pay dividends, maintaining a record of 301 consecutive quarterly payments. Fourth-quarter earnings in 2020 were $290 million ($0.38/share), compared to $364 million ($0.48/share) in 2019.

PPL Corporation (NYSE: PPL) will announce its fourth-quarter and year-end 2020 earnings on February 18. The company's president and CEO, Vincent Sorgi, alongside the executive team, will present the results during a conference call at 11 a.m. Eastern Time. The call will be available via live webcast and telephone. PPL serves 10 million customers across the U.S. and the U.K. and is committed to delivering exceptional service and value to shareholders.

PPL Corporation (NYSE: PPL) has announced its 2021 Annual Meeting of Shareowners will occur virtually on May 18, 2021, at 9 a.m. Eastern time. Shareowners eligible to participate are those on record as of February 26, 2021. Proxy materials with joining instructions will be mailed to shareowners. Headquartered in Allentown, Pennsylvania, PPL operates seven utilities serving 10 million customers across the U.S. and the U.K., supporting its commitment to exceptional customer service and shareholder value.

PPL Corporation has appointed Craig A. Rogerson as independent board chair, effective March 1, 2021, following the retirement of William H. Spence. Rogerson, a board member since 2005, brings extensive leadership experience from his tenure in various chemical companies, including Hexion. The move emphasizes PPL's focus on corporate governance and leadership continuity. Rogerson expressed gratitude for Spence's contributions and aims to enhance operational excellence and shareholder value with current CEO Vince Sorgi.

PPL Corporation announced a record $7 million raised through its fall charitable giving campaigns, with support from employees and retirees. The funds will benefit local United Way agencies and nonprofits, targeting families affected by COVID-19, expanding educational opportunities, and providing essential health and social services. In total, over $10 million has been contributed this year by PPL and its foundations to support community initiatives, including addressing economic hardships and promoting social justice. PPL reaffirms its commitment to corporate citizenship and community support.

PPL Corporation (NYSE: PPL) announced the retirement of Joanne H. Raphael, executive vice president, general counsel, and corporate secretary, effective June 1, 2021, after 35 years with the company. Her career includes serving as general counsel since June 2015 and leading PPL's External Affairs since 1998. The company expresses gratitude for her leadership and commitment to diversity. PPL will conduct an internal and external search for her successor while ensuring a seamless transition.

PPL Corporation (NYSE: PPL) announced a quarterly common stock dividend of $0.4150 per share, declared on November 20, 2020. This dividend will be payable on January 4, 2021, to shareholders of record as of December 10, 2020. PPL, a major U.S. utility provider, serves around 10 million customers in the U.S. and the U.K., employing over 12,000 staff dedicated to exceptional service and shareholder value.

On Nov. 13, 2020, LG&E and KU highlighted their commitment to providing reliable service during the pandemic while seeking a rate adjustment due to rising costs. They suspended late fees and disconnections, donated to COVID-19 relief, and invested in infrastructure, reducing outage frequency by 20%. An adjustment request will be filed on Nov. 25, 2020, to offset increased costs with an Economic Relief Surcredit of $53 million, impacting residential bills starting mid-2021. Despite the adjustment, LG&E's rates are 17% and KU's are 22% below the national average.