Portland General Electric declares a dividend
PORTLAND, Oregon., February 11, 2022 /PRNewswire/ — About February 11, 2022the board of directors of Portland General Electric Company (NYSE: POR) has declared a quarterly common stock dividend of $0.43 per share.
The company’s dividend is assessed based on capital requirements and financial performance. PGE aims for a dividend distribution rate of 60 to 70% over the long term.
The quarterly dividend is payable no later than April 18, 2022to shareholders of record at the close of business on March 252022.
About Portland General Electric Company
Portland General Electric (NYSE: POR) is a fully integrated energy company based in Portland, OR. The company serves approximately 900,000 customers with a service area population of 2 million Oregonians in 51 cities. PGE has 16 production plants across Oregon and other northwestern states and maintains and operates 14 public parks and recreation areas. For more than 130 years, PGE has powered the advancement of society, providing safe, affordable and reliable energy to the people of Oregon. PGE and its approximately 3,000 employees work with customers to build a clean energy future. Together with its customers, PGE has the #1 voluntary renewable energy program in the United States. PGE is committed to reducing greenhouse gas emissions from electricity supplied to customers by at least 80% by 2030 and by 100% by 2040. In 2021, PGE became the first service American public to join The Climate Pledge. For the eighth consecutive year, PGE has earned a perfect score on the Human Rights Campaign Foundation’s 2021 Corporate Equality Index, a national benchmarking survey and report on corporate policies and practices related to gender equality. LGBTQ people in the workplace. In 2021, PGE, employees, retirees and the PGE Foundation donated $4.8 million and has volunteered 15,760 hours with more than 300 nonprofit organizations across Oregon. For more information, visit www.PortlandGeneral.com/news.
Safe Harbor Statement
Statements in this press release regarding plans, objectives, expectations, performance, future events, etc., may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933. , as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements represent our estimates and assumptions as of the date of this report. The Company undertakes no obligation to update or revise any forward-looking statement as a result of new information, future events or other factors.
Forward-looking statements include statements regarding the Company’s full-year earnings forecast (including expectations regarding annual retail deliveries, average hydroelectric conditions, wind generation, normal thermal plant operations, maintenance and depreciation expenses) and other statements containing words such as “anticipates”, “believes”, “intends”, “estimates”, “promises”, ” expects”, “should”, “subject to” and similar expressions.
Investors are cautioned that these forward-looking statements are subject to risks and uncertainties, including, without limitation: the outcome of various legal and regulatory actions; demand for electricity; the sale of excess energy during periods of low demand or low prices on the wholesale market; operational risks associated with the Company’s battery production and storage facilities, including hydraulic conditions, wind conditions, transmission and distribution disruptions, fuel supply disruptions and unplanned outages power plant, which may result in unforeseen operating, maintenance and repair costs, as well as replacement electricity costs; supply chain delays and increased procurement costs, failure to complete capital projects on time or within budget, or abandonment of capital projects, which could result in the Company’s inability to recover project costs; costs of compliance with environmental laws and regulations, including those governing emissions from thermal power plants; changes in weather, hydroelectric and energy market conditions, which could affect the availability and cost of purchased electricity and fuel; the development of alternative technologies; changes in capital and credit market conditions, including interest rates, which could affect access to and availability of capital and result in the delay or cancellation of investment projects or the execution of the Company’s strategic plan as currently contemplated; general economic and financial market conditions, including inflation; extreme weather conditions, forest fires and other natural phenomena and natural disasters which may cause operational disruptions, unforeseen restoration costs or civil liability; cybersecurity breaches of the Company’s customer information system or operating systems, data security breaches or acts of terrorism, which could disrupt operations, require significant expenditures or result in claims against the Society ; PGE’s business activities are concentrated in one region and future performance may be affected by events and factors specific to Oregon; and general health emergencies or infectious disease outbreaks such as the novel coronavirus disease (COVID-19), including potential vaccination mandates, which may affect our financial condition, results of operations and cash flow. Accordingly, actual results may differ materially from those projected in the forward-looking statements.
These risks and uncertainties are described in greater detail in the Company’s reports filed with the United States Securities and Exchange Commission (SEC). These reports are available free of charge through the EDGAR system on the SEC’s website, www.sec.gov and on the Company’s website, investor.portlandgeneral.com. Investors should not place undue reliance on forward-looking statements.
Source: Portland General Company (POR)
SOURCE Portland General Company