Utility company PPL Corporation (PPL) on June 10, 2022 announced a 12.5% dividend increase to $0.225 per share quarterly. This increased dividend will be paid to shareholders on July 1, 2022 to shareholders of record on June 21, 2022. The new annual dividend rate of $0.90 for PPL per share yields 3.2% at a stock price of $28.33. The next ex-dividend date is June 17, 2022.
In the previous quarter PPL cut its quarterly dividend by 51.8 percent to 20 cents per share. The utility holding company last raised its quarterly dividend by 0.6 percent to $0.415 per share in 2020, at the time marking 19 consecutive years of increases.
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.