PORTLAND, Ore.--(BUSINESS WIRE)--
On April 25, 2018, the board of directors of Portland General Electric Company (NYSE: POR) approved a 6.6 percent increase in the regular quarterly common stock dividend to 36.25 cents per share, up from last quarter’s dividend of 34 cents per share. The dividend is payable on or before July 16, 2018, to shareholders of record at the close of business on June 25, 2018.
“Today’s declaration marks our twelfth consecutive annual dividend increase since going public in 2006,” said Maria Pope, PGE’s president and CEO. “It is reflective of our commitment to provide a competitive return for our investors; strong business fundamentals; and long-term growth as we deliver reliable and clean energy and invest in a more resilient and secure grid.”
The company’s dividend is approved quarterly by the board of directors based on financial performance, capital requirements and other factors influencing dividend decisions. Over the long term, PGE targets a sustainable annual dividend increase of five to seven percent and a dividend payout ratio of 50 to 70 percent.
About Portland General Electric Company
Portland General Electric (NYSE: POR) is a fully-integrated energy company based in Portland, Oregon, serving approximately 877,000 customers in 51 cities. For more than 125 years, PGE has been delivering safe, reliable energy to Oregonians. With approximately 2,900 employees across the state, PGE is committed to building a cleaner, more efficient energy future. Together with its customers, PGE has the number one voluntary renewable energy program in the U.S. For more information visit PortlandGeneral.com.
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