Pepco Holdings Declares Quarterly and Pro Rata Dividends in Advance of Merger with Exelon

WASHINGTON--()--Pepco Holdings Inc. (NYSE: POM) today announced that its board of directors has declared a quarterly dividend of $0.27 per share on Pepco Holdings’ common stock that is payable on June 30, 2015, to shareholders of record on June 10, 2015, provided that the company’s proposed merger with Exelon Corporation does not close on or prior to the close of business on June 10, 2015. The board of directors also declared contingent pro-rata dividends in the event that the merger closes either (1) before the close of business on June 10, 2015 or (2) after the close of business on June 10, 2015 but before the record date for the company’s next anticipated quarterly dividend.

If the merger closes before the close of business on June 10, 2015, the second quarter dividend will be pro-rated, with shareholders receiving $0.002967 per share of common stock per day from, but not including, Mar. 10, 2015 – the record date for the previous quarterly dividend – and ending the day immediately prior to the effective time of the merger. The pro-rata dividend, which is the daily equivalent of 27 cents per share of common stock for the full quarter (assuming 91 days in the quarter), will be paid 20 days after the closing date of the merger to shareholders of record immediately prior to the effective time of the merger. If the merger closes after the close of business on June 10, 2015 (but before the record date for the company’s next scheduled quarterly dividend), a pro-rata dividend – equal to $.002967 per share of common stock per day after June 10, 2015 through the day immediately prior to the effective time of the merger – will be paid 20 days after the closing date of the merger to shareholders of record immediately prior to the effective time of the merger. Payment of a pro-rata dividend ensures that Pepco Holdings’ common stockholders continue to receive dividends at the current rate until the closing of the merger.

Pepco Holdings, Inc. (NYSE: POM) is one of the largest energy delivery companies in the Mid-Atlantic region, serving about 2 million customers in Delaware, the District of Columbia, Maryland and New Jersey. PHI subsidiaries Pepco, Delmarva Power and Atlantic City Electric provide regulated electricity service; Delmarva Power also provides natural gas service. Through Pepco Energy Services, PHI also provides energy savings performance contracting services, underground transmission and distribution construction and maintenance services, and steam and chilled water under long-term contracts.

Contacts

Pepco Holdings, Inc.
Media Contact:
Courtney Nogas, 202-872-2680
24/7 Media Hotline: 202-872-2680
canogas@pepcoholdings.com
or
Investor Contact:
Donna Kinzel, 302-429-3004
donna.kinzel@pepcoholdings.com

Contacts

Pepco Holdings, Inc.
Media Contact:
Courtney Nogas, 202-872-2680
24/7 Media Hotline: 202-872-2680
canogas@pepcoholdings.com
or
Investor Contact:
Donna Kinzel, 302-429-3004
donna.kinzel@pepcoholdings.com