Portland General Electric Increases Dividend
PORTLAND, Ore.--(BUSINESS WIRE)-- On May 22, 2013, the Board of Directors of Portland General Electric Company (NYS: POR) declared a quarterly common stock dividend of 27.5 cents per share, up from last quarter's dividend of 27 cents per share.
"PGE's strong operations, prudent financial management, and focus on delivering value to both our customers and our shareholders makes it possible to provide the seventh consecutive annual dividend increase since going public in 2006," said Jim Piro, PGE's president and chief executive officer.
The company's dividend is evaluated based on capital requirements and financial performance. Over the long term, PGE targets a dividend payout ratio of 50 to 70 percent.
The dividend is payable on or before July 15, 2013, to shareholders of record at the close of business on June 25, 2013.
About Portland General Electric Company
Portland General Electric, headquartered in Portland, Ore., is a fully integrated electric utility that serves approximately 830,000 residential, commercial and industrial customers in Oregon. Visit our Web site at www.PortlandGeneral.com.
Source: Portland General Electric Company
Portland General Electric Company
Public Information Officer
Steve Corson, 503-464-8444
Director, Investor Relations
Bill Valach, 503-464-7395
KEYWORDS: United States North America Oregon
The article Portland General Electric Increases Dividend originally appeared on Fool.com.
Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.