Portland General Electric (POR) will raise its quarterly dividend by 5.2 percent in 2022. This follows a dividend hike of 5.5 percent to 43 cents per share in 2021 and marks the 15th consecutive year of dividend increases by the utility company.
The next quarterly common stock dividend of $0.4525 per share is payable on or before July 15, 2022, to shareholders of record at the close of business on June 27, 2022. 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.
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.