Live News • May 29
Oregon Approves New PGE Tariff Linking Big Data Center Growth to Clean Energy Requirements Oregon’s Public Utility Commission approved a new large-load tariff framework that applies to data centers with power needs above 20 MW in Portland General Electric’s service area.
The framework requires long-term contracts, customer-funded distribution upgrades, and an added surcharge for the largest projects.
The order is described as the first major implementation of Oregon’s 2025 POWER Act and ties interconnection approvals for big loads to emissions and clean energy requirements, with analysts suggesting it could serve as a template for other utilities.
This framework gives PGE clearer rules for serving rapidly growing data center demand while aiming to limit the risk of higher costs being shifted to other customers.
For you, the key considerations are how effectively PGE can manage large-load growth under these terms and how any new projects might affect future capital spending, regulatory relationships, and overall risk. New Risk • May 11
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: US$844k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.1x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 94% Cash payout ratio: 387% Minor Risk Significant insider selling over the past 3 months (US$844k sold). Recent Insider Transactions Derivative • May 07
Senior VP of Finance & CFO notifies of intention to sell stock Joseph Trpik intends to sell 8k shares in the next 90 days after lodging an Intent To Sell Form on the 6th of May. If the sale is conducted around the recent share price of US$49.03, it would amount to US$368k. Since September 2025, Joseph's direct individual holding has increased from 27.09k shares to 36.06k. Company insiders have collectively sold US$1.7m more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • May 05
First quarter 2026 earnings: EPS and revenues miss analyst expectations First quarter 2026 results: EPS: US$0.39 (down from US$0.91 in 1Q 2025). Revenue: US$879.0m (down 5.3% from 1Q 2025). Net income: US$45.0m (down 55% from 1Q 2025). Profit margin: 5.1% (down from 11% in 1Q 2025). Revenue missed analyst estimates by 8.0%. Earnings per share (EPS) also missed analyst estimates by 50%. Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Electric Utilities industry in the US. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has fallen by 1% per year. Declared Dividend • Apr 29
Fourth quarter dividend of US$0.55 announced Shareholders will receive a dividend of US$0.55. Ex-date: 25th June 2026 Payment date: 15th July 2026 Dividend yield will be 4.2%, which is higher than the industry average of 3.6%. Sustainability & Growth Dividend is covered by earnings (75% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 6.3% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 25% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Apr 25
Portland General Electric Company Declares Quarterly Common Stock Dividend, Payable on or Before July 15, 2026 On April 24, 2026, the board of directors of Portland General Electric Company declared a quarterly common stock dividend of $0.55125 per share, representing an increase of 5%, or $0.105 per share, on an annualized basis. The company's dividend is evaluated based on capital requirements and financial performance. PGE targets a dividend payout ratio of 60 to 70% over the long term. The quarterly dividend is payable on or before July 15, 2026, to shareholders of record at the close of business on June 25, 2026. Announcement • Apr 04
Portland General Electric Company to Report Q1, 2026 Results on May 01, 2026 Portland General Electric Company announced that they will report Q1, 2026 results Pre-Market on May 01, 2026 Announcement • Mar 16
Portland General Electric Company, Annual General Meeting, Apr 24, 2026 Portland General Electric Company, Annual General Meeting, Apr 24, 2026. Upcoming Dividend • Mar 16
Upcoming dividend of US$0.53 per share Eligible shareholders must have bought the stock before 23 March 2026. Payment date: 15 April 2026. Payout ratio is a comfortable 75% but the company is not cash flow positive. Trailing yield: 3.9%. Lower than top quartile of American dividend payers (4.4%). Higher than average of industry peers (2.7%). Declared Dividend • Feb 19
Fourth quarter dividend of US$0.53 announced Shareholders will receive a dividend of US$0.53. Ex-date: 23rd March 2026 Payment date: 15th April 2026 Dividend yield will be 4.0%, which is higher than the industry average of 3.6%. Sustainability & Growth Dividend is covered by earnings (75% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 5.8% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 27% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 17
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: US$2.77 (down from US$3.01 in FY 2024). Revenue: US$3.58b (up 4.0% from FY 2024). Net income: US$306.0m (down 2.2% from FY 2024). Profit margin: 8.6% (down from 9.1% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 10%. Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Electric Utilities industry in the US. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 3% per year. Announcement • Feb 17
Portland General Electric Company has filed a Follow-on Equity Offering in the amount of $500 million. Portland General Electric Company has filed a Follow-on Equity Offering in the amount of $500 million.
Security Name: Common Stock
Security Type: Common Stock
Transaction Features: At the Market Offering Announcement • Feb 14
Portland General Electric Company Declares Quarterly Common Stock Dividend, Payable on or Before April 15, 2026 On February 13, 2026, the board of directors of Portland General Electric Company declared a quarterly common stock dividend of $0.525 per share. The quarterly dividend is payable on or before April 15, 2026, to shareholders of record at the close of business on March 23, 2026. Announcement • Jan 21
Portland General Electric Company to Report Q4, 2025 Results on Feb 20, 2026 Portland General Electric Company announced that they will report Q4, 2025 results Pre-Market on Feb 20, 2026 Upcoming Dividend • Dec 15
Upcoming dividend of US$0.53 per share Eligible shareholders must have bought the stock before 22 December 2025. Payment date: 15 January 2026. Payout ratio is a comfortable 74% but the company is not cash flow positive. Trailing yield: 4.4%. Within top quartile of American dividend payers (4.4%). Higher than average of industry peers (2.9%). Announcement • Dec 06
Hagens Berman: Oregon Lawsuit Alleging Nitrate-Polluted Groundwater Filed Against Portland General Electric Company and Columbia River Processing Llc Oregon residents represented by attorneys at Hagens Berman, Bliven Law Firm and Heenan & Cook filed a new lawsuit accusing Portland General Electric Company (PGE) and Columbia River Processing LLC, subsidiary of Tillamook County Creamery Association, of contaminating groundwater in northeast Oregon with dangerous levels of nitrates, associated with significant health problems. The Dec. 5, 2025, lawsuit comes from the same group of attorneys in a similar lawsuit against the Port of Morrow, large commercial farms and confined animal feeding operations (CAFOs) alleging groundwater contamination in the same region. In that case, U.S. Magistrate Judge Andrew Hallman issued a finding recommending that claims under the federal Resource Conservation and Recovery Act and Oregon law — including claims for negligence, trespass, nuisance and inverse condemnation — be allowed to proceed. Attorneys estimate the dumping of nitrogen onto land throughout Morrow and Umatilla Counties affects thousands of residents in Oregon’s Lower Umatilla Basin, many of whom are children: “for tens of thousands of people who live in Oregon’s Morrow and Umatilla counties, including Plaintiffs and other Class members, accessing potable water is not so simple because their water is dangerously polluted,” the lawsuit states. The new filing states that PGE and Tillamook’s industrial processes generate hundreds of millions of gallons of high-nitrate wastewater every year. The lawsuit alleges as rather than properly discarding this wastewater, they send it to the Port of Morrow, a port authority that runs an industrial wastewater treatment and disposal system—even though both defendants know that upon receiving wastewater from PGE and Tillamook, the Port dumps the water, without first removing the nitrates, directly onto land in Oregon’s Morrow and Umatilla counties. The water then percolates down into the Lower Umatilla Basin allegedly causing massive groundwater pollution. The lawsuit filed in the U.S. District Court for the District of Oregon on behalf of residents of the Lower Umatilla Basin Groundwater Management Area states that the tap water, which comes from private wells, in their homes is so polluted with nitrates that it is unsafe to drink, leaving them unable to drink their own tap water and dependent on bottled water for all drinking, cooking and other household purposes. While those who have the privilege to use public water that is treated to remove the nitrates are spared the health concerns, the lawsuit states that they face inflated water bills to cover public water departments’ outlays on removing and treating the contaminated water. The filing states that at high concentrations, nitrates cause cell damage and lead to birth defects and cancer. Also according to the lawsuit, infants are at particular risk from nitrates because they are “susceptible to methemoglobinemia (or ‘Blue Baby Syndrome’), a condition caused by nitrate consumption that prevents blood from carrying oxygen and can be fatal.” The lawsuit seeks to compel remediation and or to compel PGE and Tillamook to cease their polluting practices under the Resource Conservation and Recovery Act as well as state law claims. It also seeks damages for private well users who will need to spend an estimated $40,000 to dig deeper to get clean water, as well as damages for those paying higher water bills due to water treatment that the cities must pay for to combat nitrate pollution. Reported Earnings • Nov 02
Third quarter 2025 earnings: EPS and revenues miss analyst expectations Third quarter 2025 results: EPS: US$0.94 (up from US$0.91 in 3Q 2024). Revenue: US$952.0m (up 2.5% from 3Q 2024). Net income: US$103.0m (up 9.6% from 3Q 2024). Profit margin: 11% (in line with 3Q 2024). Revenue missed analyst estimates by 3.2%. Earnings per share (EPS) also missed analyst estimates by 5.5%. Revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Electric Utilities industry in the US. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has remained flat. Declared Dividend • Oct 26
Second quarter dividend of US$0.53 announced Shareholders will receive a dividend of US$0.53. Ex-date: 22nd December 2025 Payment date: 15th January 2026 Dividend yield will be 4.5%, which is higher than the industry average of 3.6%. Sustainability & Growth Dividend is covered by earnings (74% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 6.5% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 24% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Oct 23
Portland General Electric Declares Quarterly Common Stock Dividend, Payable on or Before January 15, 2026 On October 22, 2025, the board of directors of Portland General Electric Company declared a quarterly common stock dividend of $0.525 per share. The company's dividend is evaluated based on capital requirements and financial performance. PGE targets a dividend payout ratio of 60 to 70% over the long term. The quarterly dividend is payable on or before January 15, 2026, to shareholders of record at the close of business on December 22, 2025. Announcement • Oct 01
Portland General Electric Company to Report Q3, 2025 Results on Oct 31, 2025 Portland General Electric Company announced that they will report Q3, 2025 results at 9:30 AM, US Eastern Standard Time on Oct 31, 2025 Upcoming Dividend • Sep 18
Upcoming dividend of US$0.53 per share Eligible shareholders must have bought the stock before 25 September 2025. Payment date: 15 October 2025. Payout ratio is a comfortable 74% but the company is not cash flow positive. Trailing yield: 4.9%. Within top quartile of American dividend payers (4.4%). Higher than average of industry peers (2.9%). Recent Insider Transactions • Sep 12
President recently sold US$803k worth of stock On the 10th of September, Maria Pope sold around 19k shares on-market at roughly US$42.50 per share. This transaction amounted to 8.9% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Maria's only on-market trade for the last 12 months. Recent Insider Transactions Derivative • Sep 11
President notifies of intention to sell stock Maria Pope intends to sell 19k shares in the next 90 days after lodging an Intent To Sell Form on the 10th of September. If the sale is conducted around the recent share price of US$42.50, it would amount to US$803k. For the year to December 2018, Maria's total compensation was 16% salary and 84% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since March 2025, Maria has owned 151.82k shares directly. Company insiders have collectively sold US$1.1m more than they bought, via options and on-market transactions in the last 12 months. Announcement • Aug 30
Dawn Farrell to Resign as Member of the Board of Directors and Member of the Finance and Operations Committee and the Nominating, Governance and Sustainability Committee of Portland General Electric Company, Effective October 1, 2025 Portland General Electric Company announced that on August 29, 2025, Dawn Farrell, a member of the Board of Directors of the company notified the Company of her intention to resign from the Company’s Board of Directors to accept an appointment with the Canadian government as the Chief Executive Officer of the newly created Major Projects Office launched by the Prime Minister of Canada under the Building Canada Act. Ms. Farrell joined the Company’s Board of Directors in 2022 and was a member of the Finance and Operations Committee and the Nominating, Governance and Sustainability Committee. The effective date of Ms. Farrell’s resignation is October 1, 2025. Reported Earnings • Jul 27
Second quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2025 results: EPS: US$0.57 (down from US$0.70 in 2Q 2024). Revenue: US$807.0m (up 6.5% from 2Q 2024). Net income: US$62.0m (down 14% from 2Q 2024). Profit margin: 7.7% (down from 9.5% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.7%. Earnings per share (EPS) missed analyst estimates by 10%. Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Electric Utilities industry in the US. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Announcement • Jul 26
Portland General Electric Company has filed a Follow-on Equity Offering. Portland General Electric Company has filed a Follow-on Equity Offering.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 2,452,692
Transaction Features: Dividend Reinvestment Plan Declared Dividend • Jul 25
First quarter dividend of US$0.53 announced Shareholders will receive a dividend of US$0.53. Ex-date: 25th September 2025 Payment date: 15th October 2025 Dividend yield will be 5.0%, which is higher than the industry average of 3.6%. Sustainability & Growth Dividend is covered by earnings (70% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 6.5% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 21% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jun 27
Portland General Electric Company to Report Q2, 2025 Results on Jul 25, 2025 Portland General Electric Company announced that they will report Q2, 2025 results Pre-Market on Jul 25, 2025 Upcoming Dividend • Jun 17
Upcoming dividend of US$0.53 per share Eligible shareholders must have bought the stock before 24 June 2025. Payment date: 15 July 2025. Payout ratio is a comfortable 70% but the company is not cash flow positive. Trailing yield: 5.2%. Within top quartile of American dividend payers (4.7%). Higher than average of industry peers (3.0%). Announcement • Jun 12
Portland General Electric Company Appoints Renee James as Director and Member of Compensation, Culture and Talent Committee and the Finance and Operations Committee, Effective June 11, 2025 On June 11, 2025, the Board of Directors of Portland General Electric Company elected Renée James to serve as a director of the Company, effective June 11, 2025, until the next annual meeting of shareholders. The Board also appointed Ms. James to serve on the Compensation, Culture and Talent Committee and the Finance and Operations Committee of the Board. Ms. James is the founder and current Chairman and CEO of Ampere Computing. Ms. James currently serves on the Boards of Directors at Ampere Computing LLC and Citigroup Inc. Previously, she held a variety of leadership positions at Intel Corporation, including serving as President as well as the Executive Vice President to lead research and development and global manufacturing operations. James has vast, global operating experience in both hardware and software development and manufacturing of semiconductors. She has led several development sites around the globe as well as directed Intel's government affairs in those regions. She holds a BA and MBA from the University of Oregon. Reported Earnings • Apr 27
First quarter 2025 earnings: EPS and revenues miss analyst expectations First quarter 2025 results: EPS: US$0.91 (down from US$1.08 in 1Q 2024). Revenue: US$928.0m (flat on 1Q 2024). Net income: US$100.0m (down 8.3% from 1Q 2024). Profit margin: 11% (in line with 1Q 2024). Revenue missed analyst estimates by 4.4%. Earnings per share (EPS) also missed analyst estimates by 2.8%. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Electric Utilities industry in the US. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Declared Dividend • Apr 23
Fourth quarter dividend increased to US$0.53 Dividend of US$0.53 is 5.0% higher than last year. Ex-date: 24th June 2025 Payment date: 15th July 2025 Dividend yield will be 4.7%, which is higher than the industry average of 3.6%. Sustainability & Growth Dividend is covered by earnings (66% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 6.0% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 20% over the next 3 years, which should provide support to the dividend and adequate earnings cover. New Risk • Apr 21
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: US$360k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.3x net interest cover). Minor Risks Paying a dividend despite having no free cash flows. Significant insider selling over the past 3 months (US$360k sold). Announcement • Apr 19
Portland General Electric Company Declares Quarterly Dividend on Common Stock, Payable on July 15, 2025 On April 18, 2025, the board of directors of Portland General Electric Company declared a quarterly common stock dividend of $0.525 per share, representing an increase of 5%, or $0.10 per share, on an annualized basis. The quarterly dividend is payable on or before July 15, 2025, to shareholders of record at the close of business on June 24, 2025. Announcement • Mar 26
Portland General Electric Company to Report Q1, 2025 Results on Apr 25, 2025 Portland General Electric Company announced that they will report Q1, 2025 results Pre-Market on Apr 25, 2025 Upcoming Dividend • Mar 17
Upcoming dividend of US$0.50 per share Eligible shareholders must have bought the stock before 24 March 2025. Payment date: 15 April 2025. Payout ratio is a comfortable 66% but the company is not cash flow positive. Trailing yield: 4.5%. Lower than top quartile of American dividend payers (4.7%). Higher than average of industry peers (3.1%). Announcement • Mar 07
Portland General Electric Company, Annual General Meeting, Apr 18, 2025 Portland General Electric Company, Annual General Meeting, Apr 18, 2025. Declared Dividend • Feb 16
Fourth quarter dividend of US$0.50 announced Shareholders will receive a dividend of US$0.50. Ex-date: 24th March 2025 Payment date: 15th April 2025 Dividend yield will be 4.8%, which is higher than the industry average of 3.6%. Sustainability & Growth Dividend is covered by earnings (58% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 6.2% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 14% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 14
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: US$3.01 (up from US$2.33 in FY 2023). Revenue: US$3.44b (up 18% from FY 2023). Net income: US$313.0m (up 37% from FY 2023). Profit margin: 9.1% (up from 7.8% in FY 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 8.3%. Earnings per share (EPS) missed analyst estimates by 2.8%. Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Electric Utilities industry in the US. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Announcement • Feb 13
Portland General Electric Declares Quarterly Dividend, Payable on or Before April 15, 2025 On February 12, 2025, the board of directors of Portland General Electric Company declared a quarterly common stock dividend of $0.50 per share. The quarterly dividend is payable on or before April 15, 2025, to shareholders of record at the close of business on March 24, 2025. Announcement • Jan 15
Portland General Electric Company to Report Q4, 2024 Results on Feb 14, 2025 Portland General Electric Company announced that they will report Q4, 2024 results Pre-Market on Feb 14, 2025 Upcoming Dividend • Dec 17
Upcoming dividend of US$0.50 per share Eligible shareholders must have bought the stock before 24 December 2024. Payment date: 15 January 2025. Payout ratio is a comfortable 58% but the company is not cash flow positive. Trailing yield: 4.5%. Within top quartile of American dividend payers (4.3%). Higher than average of industry peers (3.1%). Reported Earnings • Oct 26
Third quarter 2024 earnings: EPS and revenues exceed analyst expectations Third quarter 2024 results: EPS: US$0.91 (up from US$0.47 in 3Q 2023). Revenue: US$929.0m (up 16% from 3Q 2023). Net income: US$94.0m (up 100% from 3Q 2023). Profit margin: 10% (up from 5.9% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.8%. Earnings per share (EPS) also surpassed analyst estimates by 1.4%. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Electric Utilities industry in the US. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has fallen by 1% per year. New Risk • Oct 25
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 4.3% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.4x net interest cover). Minor Risks Paying a dividend despite having no free cash flows. Shareholders have been diluted in the past year (4.3% increase in shares outstanding). Significant insider selling over the past 3 months (US$394k sold). Declared Dividend • Oct 24
Second quarter dividend of US$0.50 announced Shareholders will receive a dividend of US$0.50. Ex-date: 24th December 2024 Payment date: 15th January 2025 Dividend yield will be 4.0%, which is higher than the industry average of 3.6%. Sustainability & Growth Dividend is covered by earnings (66% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 6.2% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 17% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Oct 19
Portland General Electric Company Declares Quarterly Dividend, Payable on or Before January 15, 2025 On October 18, 2024, the board of directors of Portland General Electric Company declared a quarterly common stock dividend of $0.50 per share. The quarterly dividend is payable on or before January 15, 2025, to shareholders of record at the close of business on December 24, 2024. The company's dividend is evaluated based on capital requirements and financial performance. PGE targets a dividend payout ratio of 60 to 70% over the long term. Announcement • Sep 26
Portland General Electric Company to Report Q3, 2024 Results on Oct 25, 2024 Portland General Electric Company announced that they will report Q3, 2024 results Pre-Market on Oct 25, 2024 Upcoming Dividend • Sep 17
Upcoming dividend of US$0.50 per share Eligible shareholders must have bought the stock before 24 September 2024. Payment date: 15 October 2024. Payout ratio is a comfortable 66% but the company is not cash flow positive. Trailing yield: 4.1%. Lower than top quartile of American dividend payers (4.4%). Higher than average of industry peers (2.9%). Buy Or Sell Opportunity • Jul 29
Now 20% undervalued Over the last 90 days, the stock has risen 8.2% to US$46.79. The fair value is estimated to be US$58.62, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 3.8%. For the next 3 years, revenue is forecast to grow by 3.6% per annum. Earnings are also forecast to grow by 8.0% per annum over the same time period. Reported Earnings • Jul 28
Second quarter 2024 earnings: EPS and revenues exceed analyst expectations Second quarter 2024 results: EPS: US$0.70 (up from US$0.40 in 2Q 2023). Revenue: US$758.0m (up 17% from 2Q 2023). Net income: US$72.0m (up 85% from 2Q 2023). Profit margin: 9.5% (up from 6.0% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 5.8%. Earnings per share (EPS) also surpassed analyst estimates by 5.3%. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Electric Utilities industry in the US. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has fallen by 1% per year. Announcement • Jul 27
Portland General Electric Company has filed a Follow-on Equity Offering in the amount of $400 million. Portland General Electric Company has filed a Follow-on Equity Offering in the amount of $400 million.
Security Name: Common Stock
Security Type: Common Stock
Transaction Features: At the Market Offering Declared Dividend • Jul 24
First quarter dividend of US$0.50 announced Shareholders will receive a dividend of US$0.50. Ex-date: 24th September 2024 Payment date: 15th October 2024 Dividend yield will be 4.1%, which is higher than the industry average of 3.6%. Sustainability & Growth Dividend is covered by earnings (72% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 6.2% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 22% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jul 20
Portland General Electric Declares Quarterly Dividend, Payable on or Before October 15, 2024 On July 19, 2024, the board of directors of Portland General Electric Company declared a quarterly common stock dividend of $0.50 per share. The quarterly dividend is payable on or before October 15, 2024, to shareholders of record at the close of business on September 24, 2024. Announcement • Jun 27
Portland General Electric Company to Report Q2, 2024 Results on Jul 26, 2024 Portland General Electric Company announced that they will report Q2, 2024 results Pre-Market on Jul 26, 2024 Upcoming Dividend • Jun 17
Upcoming dividend of US$0.50 per share Eligible shareholders must have bought the stock before 24 June 2024. Payment date: 15 July 2024. Payout ratio is a comfortable 72% but the company is not cash flow positive. Trailing yield: 4.7%. Lower than top quartile of American dividend payers (4.8%). Higher than average of industry peers (3.3%).