PORTLAND : General Electric Increases Dividend
05/11/2011| 05:55pm US/Eastern
On May 11, 2011, the Board of Directors of Portland General Electric
Company (NYSE:POR) declared a 2 percent increase in its quarterly common
stock dividend, bringing the dividend to 26.5 cents per share, up from
last quarter's 26.0 cents per share.
"We are pleased to provide this dividend increase reflecting the strong
operational performance and prudent financial management of our
company," said Jim Piro, president and chief executive officer of
Portland General Electric. "Our strategy to make long-term investments
in our core business allows us to meet the energy needs of our customers
while delivering a competitive return for shareholders."
PGE's dividend is evaluated based on capital requirements and financial
performance. Over the long term, the Company targets a dividend payout
ratio in the 50-70 percent range, which is consistent with our peers.
The dividend is payable on or before July 15, 2011, to shareholders of
record at the close of business on June 24, 2011.
About Portland General Electric Company
Portland General Electric, headquartered in Portland, Ore., is a fully
integrated electric utility that serves approximately 821,000
residential, commercial and industrial customers in Oregon. Visit our
Web site at www.PortlandGeneral.com.
Source: Portland General Electric Company
Portland General Electric Company
Baker, Director, Corporate Communications, 503-464-8693
Bill Valach, Director, Investor Relations, 503-464-7395
© Business Wire 2011