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PPL Corporation (NYSE: PPL) is a renowned global energy company headquartered in Allentown, Pennsylvania. PPL serves over 10.5 million customers across Pennsylvania, Kentucky, and the United Kingdom with its high-performing regulated utilities, including Western Power Distribution, Louisville Gas and Electric, Kentucky Utilities, and PPL Electric Utilities. These subsidiaries are consistently recognized for delivering outstanding service in both the U.S. and the U.K.
PPL's operations span across electricity generation, transmission, and distribution, as well as natural gas services. The company is a positive force in its communities, supporting job creation programs and donating millions to charitable organizations to enhance the quality of life. Additionally, PPL's workforce of over 13,000 employees actively volunteers their time and energy to assist others.
Recent achievements include a significant $72 million award from the U.S. Department of Energy to fund a pioneering carbon dioxide (CO2) capture project in collaboration with the University of Kentucky and other partners. This project aims to capture up to 90,000 metric tons of CO2 annually, equivalent to the emissions of 20,000 gasoline-powered cars, marking a major step towards PPL's goal of achieving net-zero carbon emissions by 2050.
PPL continues to innovate and invest in infrastructure, recently committing to $14.3 billion in planned investments through 2027 to modernize the grid, enhance reliability, and support renewable energy integration. The company also maintains a strong financial position, with reported 2023 earnings of $740 million and an ongoing commitment to dividend growth.
PPL's subsidiaries are involved in various strategic projects, such as deploying advanced smart metering technology in Rhode Island through a partnership with Landis+Gyr. This initiative will support the state's clean energy goals and grid modernization efforts.
Overall, PPL Corporation remains dedicated to providing safe, reliable, and affordable energy while advancing sustainable energy solutions and fostering community development.
PPL has finalized an agreement with the U.S. Department of Energy's Office of Clean Energy Demonstrations for an award of up to $72 million. This funding will support a groundbreaking carbon dioxide capture research and development project at PPL's natural gas combined-cycle generation facility in Louisville, Kentucky. The project, developed in partnership with the University of Kentucky, represents a total investment of over $100 million.
The first tranche of $4.9 million has been awarded to begin Phase 1 activities. This initiative aligns with PPL's strategy to enable new technologies that accelerate the transition to a clean energy future and achieve net-zero carbon emissions by 2050. PPL believes that reliable, dispatchable natural gas units will be essential in ensuring sufficient electricity supply while supporting the transition to renewables.
PPL (NYSE: PPL) has announced a quarterly common stock dividend of $0.2575 per share. The dividend was declared on August 23, 2024, and will be payable on October 1, 2024. Shareholders of record as of September 10, 2024, will be eligible to receive this dividend. This announcement demonstrates PPL's commitment to providing regular returns to its shareholders, maintaining its dividend policy despite current market conditions.
PPL (NYSE: PPL) reported second-quarter 2024 earnings of $0.26 per share (GAAP) and $0.38 per share from ongoing operations. The company reaffirmed its 2024 ongoing earnings forecast range of $1.63 to $1.75 per share, with a midpoint of $1.69 per share. PPL also reaffirmed its projection of 6% to 8% annual earnings and dividend growth through at least 2027. The company's performance was driven by higher sales volumes, increased transmission revenue, and lower operating costs across its regulated segments in Kentucky, Pennsylvania, and Rhode Island.
PPL (NYSE:PPL) has announced it will release its consolidated second-quarter 2024 earnings results on Friday, August 2. The company will host a conference call and webcast for financial analysts at 11 a.m. Eastern Time, where Vincent Sorgi, PPL's president and CEO, along with other executives, will discuss the results and general business outlook.
The webcast will be accessible at www.pplweb.com/investors, with a replay available for 90 days. Interested parties can also join via telephone. PPL, based in Allentown, Pennsylvania, is a leading U.S. energy company serving over 3.5 million customers, focusing on safe, reliable, and affordable electricity and natural gas provision.
PPL , along with its subsidiaries Louisville Gas and Electric Company (LG&E) and Kentucky Utilities Company (KU), is expanding its collaboration with the U.S. Department of Energy (DOE) to conduct a detailed nuclear feasibility study. This effort aims to evaluate the potential for nuclear energy at various company locations in Kentucky, building on an initial assessment at the Ghent Generation Station. The DOE-funded research will explore the viability of small modular reactors (SMRs) and partnerships with industrial customers to achieve zero-carbon goals, ensuring a reliable and affordable energy mix. PPL's CEO, Vincent Sorgi, emphasized the importance of diverse energy solutions to meet future demands and support economic growth.
PPL announced a quarterly common stock dividend of $0.2575 per share, declared on May 15, 2024. The dividend is payable on July 1, 2024, to shareholders of record as of June 10, 2024.
Rhode Island Energy, a subsidiary of PPL , has reached new five-year contracts with the Utility Workers Union of America (UWUA) and Brotherhood of Utility Workers (BUW) for 526 employees. The agreements include 3% annual wage increases and aim to provide safe, reliable, sustainable, and affordable energy services to Rhode Island customers.
PPL reported first-quarter 2024 earnings with a GAAP EPS of $0.42 and ongoing EPS of $0.54, showing a 12.5% increase from 2023. The company reaffirmed its 2024 earnings forecast range of $1.63 to $1.75 per share. PPL plans $3 billion in infrastructure improvements in 2024, aiming for $14.3 billion by 2027. The company expects 6-8% annual earnings and dividend growth through 2027.
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