PORTLAND, Ore.--(BUSINESS WIRE)--On May 7, 2014 the board of directors of Portland General Electric Company (NYSE: POR) declared a quarterly common stock dividend of 28 cents per share, up from last quarter’s dividend of 27.5 cents per share.
“This is PGE’s eighth consecutive annual dividend increase since going public in 2006, reflecting our continued focus on strong operations, prudent financial management, and delivering value to both our customers and our shareholders,” said Jim Piro, PGE’s president and chief executive officer.
The company’s dividend is evaluated annually by the board of directors 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, 2014, to shareholders of record at the close of business on June 25, 2014.
About Portland General Electric Company
Portland General Electric, headquartered in Portland, Ore., is a fully integrated electric utility that serves approximately 838,000 residential, commercial and industrial customers in Oregon. Visit our website at www.PortlandGeneral.com.
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Source: Portland General Electric Company
