Portland General Raises Dividend
May 23rd 2013 9:33PM
Updated May 23rd 2013 11:15PM
Utility operator Portland General Electric announced yesterday its second-quarter dividend of $0.275 per share, a near-2% increase over last quarter's payout of $0.27 per share.
The board of directors said the quarterly dividend is payable on July 15 to the holders of record at the close of business on June 25.
Portland General Electric President and CEO Jim Piro said, "PGE's strong operations, prudent financial management, and focus on delivering value to both our customers and our shareholders makes it possible to provide the seventh consecutive annual dividend increase since going public in 2006."
The regular dividend payment equates to a $1.10-per-share annual dividend, yielding 3.5% based on the closing price of Portland General Electric's' stock on May 22.
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