- Top-tier earnings and dividend growth to be fueled by
$27 billion of investment
opportunities through 2030, superior operating expertise and one of
the strongest balance sheets in the U.S. utility sector.
- Forward-looking investments and strong focus on technology
and innovation underpin strategy to advance cleaner, reliable,
affordable energy and drive significant, sustainable value
- Company to host virtual Investor Day today at 10 a.m. Eastern Time.
- Quarterly common stock dividend increases to $0.225, reflecting addition of Rhode Island
ALLENTOWN, Pa., June 9, 2022
/PRNewswire/ -- PPL Corporation (NYSE:PPL) today will host a
virtual Investor Day during which management will provide an update
on the company's strategy to deliver top-tier growth and a clean
"With the sale of our U.K. business and our acquisition of Rhode
Island Energy now complete, PPL is transformed and in an excellent
position to create significant, sustainable value for our
shareowners and our customers," said PPL President and Chief
Executive Officer Vincent Sorgi.
"The new PPL is an innovative, best-in-class utility operator
positioned to deliver premier growth, backed by one of the
strongest balance sheets in our sector, and poised to lead the
clean energy transition while keeping energy service affordable and
reliable for our customers," said Sorgi.
"Our success is enabled by our team of more than 6,500 talented
and dedicated employees who work hard each day to serve our 3.5
million customers. I am incredibly proud of all we have
accomplished and even more excited about the opportunities we have
as a premier U.S. regulated utility."
At today's Investor Day event, PPL's leadership team will
discuss the company's:
- Strategic shift into a large-cap U.S. regulated utility company
operating in constructive regulatory jurisdictions – Kentucky, Pennsylvania and Rhode Island.
- Top-tier projected earnings per share and dividend growth of 6%
to 8% annually, culminating in an annual 9% to 11% total return
- Robust capital investment plan, including $27 billion of regulated investment opportunities
through 2030 to advance grid modernization, grid resiliency and
cleaner energy to best serve our customers.
- Improved balance sheet that is now among the best in the U.S.
utility sector and will support the company's growth with no equity
- Compelling opportunity to transition its coal-fired generation
fleet in Kentucky in support of
PPL's goal of net-zero carbon emissions by 2050.
- Scalable strategy that reduces costs through the use of data
and technology and the centralization of shared services functions,
driving optimal resource allocation and supporting affordability
for PPL's customers.
In connection with PPL's Investor Day, the company today
also updated its quarterly dividend to reflect the acquisition of
Rhode Island Energy. PPL declared a quarterly common stock dividend
of $0.225 per share, payable
July 1, 2022, to shareowners of
record as of June 21, 2022. This is
an increase from the first-quarter 2022 dividend of $0.20 per share.
Investor Day webcast details
As previously announced,
the virtual Investor Day begins at 10 a.m.
Eastern Time. Investors and analysts may access the event
through the Investor Relations section of PPL's website at
https://pplweb.investorroom.com. The accompanying slides will be
posted along with the webcast and will be made available prior to
the start of the event. A replay of the event will also be
available on the Investor Relations section of the company's
website within 24 hours after the event concludes.
About PPL Corporation
PPL Corporation (NYSE:PPL),
based in Allentown, Pennsylvania,
is a leading U.S. energy company focused on providing electricity
and natural gas safely, reliably and affordably to 3.5 million
customers in the U.S. PPL's high-performing, award-winning
utilities are addressing energy challenges head-on by building
smarter, more resilient and more dynamic power grids and advancing
sustainable energy solutions. For more information, visit
Statements contained in this news release, including
statements with respect to future earnings, cash flows, dividends,
financing, regulation and corporate strategy, are "forward-looking
statements" within the meaning of the federal securities laws.
Although PPL Corporation believes that the expectations and
assumptions reflected in these forward-looking statements are
reasonable, these statements are subject to a number of risks and
uncertainties, and actual results may differ materially from the
results discussed in the statements. Any such forward-looking
statements should be considered in conjunction with factors and
other matters discussed in PPL Corporation's most recently filed
Annual Report on Form 10-K and other reports on file with the
Securities and Exchange Commission.
Note to Editors: Visit our media website at
www.pplnewsroom.com for additional news about PPL
For news media: Ryan Hill,
For financial analysts: Andy Ludwig,
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SOURCE PPL Corporation