Portland General Electric Company (NYSE:POR) Announces Quarterly Dividend of $0.55

Key Points

• Portland General Electric declared a quarterly dividend of $0.5513 per share, payable October 15 to shareholders of record on September 25. The annualized dividend is approximately $2.20 per share, implying a 4.7% yield.
• The dividend appears adequately covered, with a current payout ratio of 65.3% and an expected future payout ratio of 61.8%; the company has increased its dividend for two consecutive years.
• Recent quarterly results slightly missed expectations: EPS was $0.64 versus the $0.65 consensus, while revenue reached $814 million compared with analysts’ forecast of $839.75 million.

Portland General Electric Company (NYSE:POR - Get Free Report) declared a quarterly dividend on Friday, July 24th. Investors of record on Friday, September 25th will be given a dividend of 0.5513 per share by the utilities provider on Thursday, October 15th. This represents a c) dividend on an annualized basis and a yield of 4.7%. The ex-dividend date is Friday, September 25th.

Portland General Electric has raised its dividend by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 2 consecutive years. Portland General Electric has a dividend payout ratio of 65.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Portland General Electric to earn $3.56 per share next year, which means the company should continue to be able to cover its $2.20 annual dividend with an expected future payout ratio of 61.8%.

Portland General Electric Trading Up 0.7%

Shares of POR opened at $47.40 on Wednesday. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.98 and a quick ratio of 0.86. Portland General Electric has a 1 year low of $42.56 and a 1 year high of $54.62. The company has a 50 day simple moving average of $49.75 and a two-hundred day simple moving average of $50.74. The firm has a market cap of $5.57 billion, a P/E ratio of 20.88, a price-to-earnings-growth ratio of 2.03 and a beta of 0.51.

Portland General Electric (NYSE:POR - Get Free Report) last released its earnings results on Thursday, July 30th. The utilities provider reported $0.64 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.01). The company had revenue of $814.00 million during the quarter, compared to analysts' expectations of $839.75 million. Portland General Electric had a return on equity of 7.47% and a net margin of 7.27%.Portland General Electric's quarterly revenue was up .9% compared to the same quarter last year. During the same period last year, the firm posted $0.66 EPS. On average, equities analysts expect that Portland General Electric will post 3.38 earnings per share for the current fiscal year.

About Portland General Electric

Portland General Electric Company NYSE: POR is an investor-owned electric utility that generates, purchases, transmits, distributes and sells electricity in Oregon. The company serves residential, commercial, industrial and other customers, offering electric delivery and related energy services across its service territory.

Founded in 1889, Portland General Electric is headquartered in Portland, Oregon, and serves communities in the Portland metropolitan area and the Willamette Valley, among other parts of the state.

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