CHICAGO--(BUSINESS WIRE)--The Board of Directors of Exelon Corporation announced an updated dividend policy targeting 5 percent annual dividend growth for the period covering 2018 through 2020. The new policy builds on the 2.5 percent annual dividend growth plan implemented in 2016.
“Exelon’s business position has continued to strengthen since 2016 with more earnings coming from our regulated utilities following the PHI acquisition, sustained industry leading utility earnings per share growth and greater stability for our generation fleet with the Illinois and New York zero emissions credit programs that sustain these carbon free, low cost assets,” said Christopher M. Crane, Exelon’s president and CEO. “We’ve also continued to focus on cost management and prudent balance sheet management. I am pleased we are able to share more of our financial success with our shareholders through this updated dividend policy.”
In light of the updated dividend policy, the board declared a regular quarterly dividend of $0.345 per share on Exelon’s common stock, a 5 percent increase from the previous amount of $0.3275. The dividend is payable on March 9, 2018, to shareholders of record of Exelon as of 5 p.m. New York time on Feb. 15, 2018.
About Exelon Corporation
Exelon Corporation (NYSE: EXC) is a Fortune 100 energy company with the largest number of utility customers in the U.S. Exelon does business in 48 states, the District of Columbia and Canada and had 2016 revenue of $31.4 billion. Exelon’s six utilities deliver electricity and natural gas to approximately 10 million customers in Delaware, the District of Columbia, Illinois, Maryland, New Jersey and Pennsylvania through its Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO and Pepco subsidiaries. Exelon is one of the largest competitive U.S. power generators, with more than 33,300 megawatts of nuclear, gas, wind, solar and hydroelectric generating capacity comprising one of the nation’s cleanest and lowest-cost power generation fleets. The company’s Constellation business unit provides energy products and services to approximately 2.2 million residential, public sector and business customers, including more than two-thirds of the Fortune 100. Follow Exelon on Twitter @Exelon.