PORTLAND, Ore., Feb. 12,
2025 /PRNewswire/ -- On February 12, 2025, the board of directors of
Portland General Electric Company (NYSE: POR) declared a
quarterly common stock dividend of $0.50 per share.
The company's dividend is evaluated based on capital
requirements and financial performance. PGE targets a dividend
payout ratio of 60 to 70% over the long term.
The quarterly dividend is payable on or before April 15, 2025, to shareholders of record at the
close of business on March 24,
2025.
About Portland General Electric Company
Portland
General Electric (NYSE: POR) is an integrated energy company that
generates, transmits and distributes electricity to over 950,000
customers serving an area of 1.9 million Oregonians. Since 1889,
Portland General Electric (PGE) has been powering social progress,
delivering safe, affordable, reliable and increasingly clean
electricity while working to transform energy systems to meet
evolving customer needs. PGE customers have set the standard for
prioritizing clean energy with the No. 1 voluntary renewable energy
program in the country. PGE was ranked the No. 1 utility in the
2024 Forrester U.S. Customer Experience Index and is committed to
reducing emissions from its retail power supply by 80% by 2030 and
100% by 2040. In 2024, PGE employees, retirees and the PGE
Foundation donated $5.5 million and
volunteered nearly 23,000 hours to more than 480 nonprofit
organizations. For more information visit
www.portlandgeneral.com/news.
Safe Harbor Statement
Statements in this press release that relate to future plans,
objectives, expectations, performance, events and the like may
constitute "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995, Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. These forward-looking
statements represent our estimates and assumptions as of the date
of this press release. The Company assumes no obligation to update
or revise any forward-looking statement as a result of new
information, future events or other factors.
Forward-looking statements include statements regarding the
Company's full-year earnings guidance (including assumptions and
expectations regarding annual retail deliveries, average hydro
conditions, wind generation, normal thermal plant operations,
operating and maintenance expense and depreciation and amortization
expense) as well as other statements containing words such as
"anticipates," "assumptions," "based on," "believes," "conditioned
upon," "considers," "could," "estimates," "expects," "forecast,"
"goals," "intends," "needs," "plans," "predicts," "projects,"
"promises," "seeks," "should," "subject to," "targets," "will
continue," "will likely result," or similar expressions.
Investors are cautioned that any such forward-looking statements
are subject to risks and uncertainties, including, without
limitation: the timing or outcome of various legal and regulatory
actions; governmental policies, legislative action, and regulatory
audits, investigations and actions with respect to allowed rates of
return, financings, electricity pricing and price structures,
acquisition and disposal of facilities and other assets,
construction and operation of plant facilities, transmission of
electricity, recovery of power costs, operating expenses,
deferrals, timely recovery of costs, and capital investments,
energy trading activities, and current or prospective wholesale and
retail competition; changing customer expectations and choices that
may reduce demand for electricity; the sale of excess energy during
periods of low demand or low wholesale market prices; impaired
financial stability of vendors and service providers and elevated
levels of uncollectible customer accounts; uncertainties associated
with energy demand to new data centers, including the concentration
of data centers, and the ability to obtain regulatory approvals,
environmental, and other permits to construct new facilities in a
timely manner; operational risks relating to the Company's
generation and battery storage facilities, including hydro
conditions, wind conditions, disruption of transmission and
distribution, disruption of fuel supply, and unscheduled plant
outages, which may result in unanticipated operating, maintenance
and repair costs, as well as replacement power costs; delays in the
supply chain and increased supply costs (including application of
tariffs), failure to complete capital projects on schedule or
within budget, failure of counterparties to perform under
agreement, or the abandonment of capital projects, which could
result in the Company's inability to recover project costs, or
impact our competitive position, market share, revenues and project
margins in material ways; default or nonperformance of
counterparties from whom PGE purchases capacity or energy, which
require the purchase of replacement power and renewable attributes
at increased costs; complications arising from PGE's jointly-owned
plant, including ownership changes, regulatory outcomes or
operational failures; changes in, and compliance with,
environmental laws and policies, including those related to
threatened and endangered species, fish, and wildfire; future laws,
regulations, and proceedings that could increase the Company's
costs of operating its thermal generating plants, or affect the
operations of such plants by imposing requirements for additional
emissions controls or significant emissions fees or taxes,
particularly with respect to coal-fired generating facilities, in
order to mitigate carbon dioxide, mercury, and other gas emissions;
volatility in wholesale power and natural gas prices that could
require PGE to post additional collateral or issue additional
letters of credit pursuant to power and natural gas purchase
agreements; changes in the availability and price of wholesale
power and fuels; changes in customer growth, or demographic
patterns, including changes in load resulting in future
transmission constraints, in PGE's service territory; changes in
capital and credit market conditions, including volatility of
equity markets as well as changes in PGE's credit ratings and
outlook on such credit ratings, reductions in demand for
investment-grade commercial paper or interest rates, which could
affect the access to and availability or cost of capital and result
in delay or cancellation of capital projects or execution of the
Company's strategic plan as currently envisioned; inflation and
volatility in interest rates; the effects of climate change,
whether global or local in nature; unseasonable or severe weather
conditions, wildfires, and other natural phenomena and natural
disasters that could result in operational disruptions,
unanticipated restoration costs, third party liability or that may
affect energy costs or consumption; the effectiveness of PGE's risk
management policies and procedures; ignitions caused by PGE assets
or PGE's ability to effectively implement a Public Safety Power
Shutoffs (PSPS) and de-energize its system in the event of
heightened wildfire risk or implement effective system hardening
programs; cybersecurity attacks, data security breaches, physical
attacks and security breaches, or other malicious acts against the
Company or against Company vendors, which could disrupt operations,
require significant expenditures, or result in the release of
confidential customer, vendor, employee, or Company information;
employee workforce factors, including potential strikes, work
stoppages, transitions in senior management, and the ability to
recruit and retain key employees and other talent and turnover due
to macroeconomic trends or if efforts around diversity, equity and
inclusion are perceived to be insufficient or overdone; widespread
health emergencies or outbreaks of infectious diseases, which may
affect our financial position, results of operations and cash
flows; failure to achieve the Company's greenhouse gas emission
goals or being perceived to have either failed to act responsibly
with respect to the environment or effectively responded to
legislative requirements concerning greenhouse gas emission
reductions; social attitudes regarding the electric utility and
power industries; political and economic conditions; acts of war or
terrorism; changes in financial or regulatory accounting principles
or policies imposed by governing bodies; new federal, state, and
local laws that could have adverse effects on operating results;
and risks and uncertainties related to generation and transmission
projects, including, but not limited to, regulatory processes,
transmission capabilities, system interconnections, permitting and
construction delays, legislative uncertainty, inflationary impacts,
supply costs and supply chain constraints. As a result, actual
results may differ materially from those projected in the
forward-looking statements.
Risks and uncertainties to which the Company are subject are
further discussed in the reports that the Company has filed with
the United States Securities and Exchange Commission (SEC). These
reports are available through the EDGAR system free-of-charge on
the SEC's website, www.sec.gov and on the Company's website,
investors.portlandgeneral.com. Investors should not rely unduly on
any forward-looking statements.
Media Contact:
Drew
Hanson
Corporate Communications
Phone: 503-464-2067
Investor Contact:
Nick
White
Investor Relations
Phone: 503-464-8073
Source: Portland General Company
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SOURCE Portland General Company
