AKRON, Ohio,
March 15, 2022
/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 June 1,
2022, to shareholders of record at the close of business on
May 6, 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 government
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 and audits
regarding Ohio House Bill 6 ("HB 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 risks and uncertainties associated with litigation,
arbitration, mediation and similar proceedings, particularly
regarding HB 6 related matters, including risks associated with
obtaining court approval of the definitive settlement agreement in
the derivative shareholder lawsuits; weather conditions, such as
temperature variations and severe weather conditions, or other
natural disasters affecting future operating results and associated
regulatory actions or outcomes in response to such conditions;
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, 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, strengthening our balance sheet,
and satisfying the conditions necessary to close the sale of the
minority interest in FirstEnergy Transmission, LLC; 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; 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 COVID-19
pandemic and the related 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, additional costs, workforce impacts and governmental
and regulatory responses to the pandemic, such as moratoriums on
utility disconnections and workforce vaccination mandates; 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
factors such as 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 recession and inflationary pressure,
affecting us and/or our customers and those vendors with which we
do business; the potential of non-compliance with debt covenants in
our credit facilities; 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. Dividends declared from time to time on FirstEnergy
Corp.'s common stock during any period may in the aggregate vary
from prior periods due to circumstances considered by FirstEnergy
Corp.'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 together with, the risk
factors included in FirstEnergy Corp.'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
Corp.'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 Corp.
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.