AKRON,
Ohio, July 26, 2023 /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 September 1, 2023, to
shareholders of record at the close of business on August 7, 2023.
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 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, as passed by Ohio's
133rd General Assembly ("HB 6") 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
dismissal of the derivative shareholder lawsuits; changes in
national and regional economic conditions, including recession,
inflationary pressure, supply chain disruptions, higher energy
costs, and workforce impacts, affecting us and/or our customers and
those vendors with which we do business; 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,
cybersecurity, and climate change; 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 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, executing on
our rate filing strategy, controlling costs, greenhouse gas
reduction goals, improving our credit metrics, growing earnings,
strengthening our balance sheet, and satisfying the conditions
necessary to close the sale of additional membership interests of
FirstEnergy Transmission, LLC; changing market conditions affecting
the measurement of certain liabilities and the value of assets held
in our pension trusts may negatively impact our forecasted growth
rate, results of operations, and may also cause us to make
contributions to our pension sooner or in amounts that are larger
than currently anticipated; mitigating exposure for remedial
activities associated with retired and formerly owned electric
generation assets; changes to environmental laws and regulations,
including but not limited to those related to climate change;
changes in customers' demand for power, including but not limited
to, economic conditions, the impact of climate change or energy
efficiency and peak demand reduction mandates; 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; future actions 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; 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; human capital management challenges, including
among other things, attracting and retaining appropriately trained
and qualified employees and labor disruptions by our unionized
workforce; changes to significant accounting policies; any changes
in tax laws or regulations, including, but not limited to, the
Inflation Reduction Act of 2022, 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 Quarterly Report on Form 10-Q, 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. Forward-looking and other statements regarding
our climate strategy, including our greenhouse gas emission
reduction goals, are not an indication that these statements are
necessarily material to investors or required to be disclosed in
our filings with the SEC. In addition, historical, current and
forward-looking statements regarding climate matters, including
greenhouse gas emissions, may be based on standards for measuring
progress that are still developing, internal controls and processes
that continue to evolve and assumptions that are subject to change
in the future.
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SOURCE FirstEnergy Corp.