PPL Corporation (PPL) will raise its quarterly dividend by 0.6 percent to $0.415 per share in 2020, matching last year's 0.6 percent dividend hike. The utility company has now increased its dividend for 19 consecutive years.
The next dividend will be payable April 1, 2020 to shareowners of record as of March 10, 2020. The new annual dividend rate of $1.66 per share yields 6.1% at a stock price of $27.42.
PPL Corporation is utility holding company. PPL Electric was founded in 1920 as Pennsylvania Power & Light Company. PPL, through its regulated utility subsidiaries, delivers electricity to customers in the U.K., Pennsylvania, Kentucky and Virginia; delivers natural gas to customers in Kentucky; and generates electricity from power plants in Kentucky. PPL Corporation, headquartered in Allentown, Pennsylvania, was incorporated in 1994 and has paid a dividend in every quarter since 1946.