Portland General Electric (POR) will raise its quarterly dividend by 5.5 percent to 43 cents per share in 2021. This follows a dividend hike of 5.8 percent to 40.75 cents per share in 2020 and at the same time marks the 15th consecutive year of dividend increases by the utility company.

The next dividend is payable on July 15, 2021 to shareholders of record at the close of business on June 25, 2021. A new annualized rate of $1.72 per share yields 3.4% at a stock price of $50. POR will pay shareholders an estimated $154 million in dividends every year if we include this new dividend hike.

Portland General Electric Company is a vertically-integrated electric utility with corporate headquarters located in Portland, Oregon, is engaged in the generation, wholesale purchase, transmission, distribution, and retail sale of electricity in the state of Oregon. The company participates in the wholesale market through the purchase and sale of electricity and natural gas. PGE was incorporated in 1930 and has paid a dividend every year since 2006. The company has natural gas-fired generating facilities  and operates wind farms and hydroelectric projects.