AKRON, Ohio, Dec. 21, 2021 /PRNewswire/ -- The Board of
Directors of FirstEnergy Corp. (NYSE: FE) today declared an
unchanged quarterly dividend of 39
cents per share of outstanding common stock. The dividend
will be payable March 1, 2022, to
shareholders of record at the close of business on February 7, 2022.
FirstEnergy is dedicated to integrity, safety, reliability and
operational excellence. Its 10 electric distribution companies form
one of the nation's largest investor-owned electric systems,
serving customers in Ohio,
Pennsylvania, New Jersey, West
Virginia, Maryland and
New York. The company's
transmission subsidiaries operate approximately 24,000 miles of
transmission lines that connect the Midwest and Mid-Atlantic
regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or
online at www.firstenergycorp.com.
Forward-Looking Statements: This news release
includes forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995 based on
information currently available to management. Such statements are
subject to certain risks and uncertainties and readers are
cautioned not to place undue reliance on these forward-looking
statements. These statements include declarations regarding
management's intents, beliefs and current expectations. These
statements typically contain, but are not limited to, the terms
"anticipate," "potential," "expect," "forecast," "target," "will,"
"intend," "believe," "project," "estimate," "plan," and similar
words. Forward-looking statements involve estimates, assumptions,
known and unknown risks, uncertainties and other factors that may
cause actual results, performance or achievements to be materially
different from any future results, performance or achievements
expressed or implied by such forward-looking statements, which may
include the following: the potential liabilities, increased costs
and unanticipated developments resulting from governmental
investigations and agreements, including those associated with
compliance with or failure to comply with the Deferred Prosecution
Agreement entered into on July 21,
2021 with the U.S. Attorney's Office for the Southern
District of Ohio; the risks and
uncertainties associated with government investigations regarding
House Bill 6, as passed by Ohio's
133rd General Assembly, and related matters, including potential
adverse impacts on federal or state regulatory matters, including,
but not limited to, matters relating to rates; the potential of non
compliance with debt covenants in our credit facilities; the risks
and uncertainties associated with litigation, arbitration,
mediation and similar proceedings; legislative and regulatory
developments, including, but not limited to, matters related to
rates, compliance and enforcement activity; the ability to
accomplish or realize anticipated benefits from our FE Forward
initiative and our other strategic and financial goals, including,
but not limited to, maintaining financial flexibility, overcoming
current uncertainties and challenges associated with the ongoing
government investigations, executing our transmission and
distribution investment plans, greenhouse gas reduction goals,
controlling costs, improving our credit metrics, growing earnings,
and strengthening our balance sheet through the sale of a minority
interest in FirstEnergy Transmission, LLC; economic and weather
conditions affecting future operating results, such as a recession,
significant weather events and other natural disasters, and
associated regulatory events or actions in response to such
conditions; mitigating exposure for remedial activities associated
with retired and formerly owned electric generation assets; the
ability to access the public securities and other capital and
credit markets in accordance with our financial plans, the cost of
such capital and overall condition of the capital and credit
markets affecting us, including the increasing number of financial
institutions evaluating the impact of climate change on their
investment decisions; the extent and duration of the novel
coronavirus, or COVID-19, pandemic and the impacts to our business,
operations and financial condition resulting from the outbreak of
COVID-19, including, but not limited to, disruption of businesses
in our territories and governmental and regulatory responses to the
pandemic; the effectiveness of our pandemic and business continuity
plans, the precautionary measures we are taking on behalf of our
customers, contractors and employees, our customers' ability to
make their utility payment and the potential for supply-chain
disruptions; actions that may be taken by credit rating agencies
that could negatively affect either our access to or terms of
financing or our financial condition and liquidity; changes in
assumptions regarding economic conditions within our territories,
the reliability of our transmission and distribution system, or the
availability of capital or other resources supporting identified
transmission and distribution investment opportunities; changes in
customers' demand for power, including, but not limited to, the
impact of climate change or energy efficiency and peak demand
reduction mandates; changes in national and regional economic
conditions, including inflationary pressure, affecting us and/or
our customers and those vendors with which we do business; the
risks associated with cyber-attacks and other disruptions to our,
or our vendors', information technology system, which may
compromise our operations, and data security breaches of sensitive
data, intellectual property and proprietary or personally
identifiable information; the ability to comply with applicable
reliability standards and energy efficiency and peak demand
reduction mandates; changes to environmental laws and regulations,
including, but not limited to, those related to climate change;
changing market conditions affecting the measurement of certain
liabilities and the value of assets held in our pension trusts, or
causing us to make contributions sooner, or in amounts that are
larger, than currently anticipated; labor disruptions by our
unionized workforce; changes to significant accounting policies;
any changes in tax laws or regulations, or adverse tax audit
results or rulings; and the risks and other factors discussed from
time to time in our Securities and Exchange Commission ("SEC")
filings and other similar factors. Dividends declared from time to
time on FirstEnergy's common stock and outstanding preferred stock,
if any, during any period may in the aggregate vary from prior
periods due to circumstances considered by FirstEnergy's board of
directors at the time of the actual declarations. A security rating
is not a recommendation to buy or hold securities and is subject to
revision or withdrawal at any time by the assigning rating agency.
Each rating should be evaluated independently of any other rating.
These forward-looking statements are also qualified by, and should
be read in conjunction with the other cautionary statements and
risks that are included in FirstEnergy's filings with the SEC,
including, but not limited to, the most recent Annual Report on
Form 10-K and any subsequent Quarterly Reports on Form 10-Q and
Current Reports on Form 8-K. The foregoing review of factors also
should not be construed as exhaustive. New factors emerge from time
to time, and it is not possible for management to predict all such
factors, nor assess the impact of any such factor on FirstEnergy's
business or the extent to which any factor, or combination of
factors, may cause results to differ materially from those
contained in any forward-looking statements. FirstEnergy expressly
disclaims any obligation to update or revise, except as required by
law, any forward-looking statements contained herein or in the
information incorporated by reference as a result of new
information, future events or otherwise.
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SOURCE FirstEnergy Corp.