DPL Inc. Announces Pro Rated Dividend In Anticipation of Completing The Pending Merger with Dolphin Sub, Inc., a Wholly-owned...
08 Novembro 2011 - 8:25PM
Business Wire
The board of directors of DPL Inc. (NYSE: DPL) has declared a
pro-rated dividend on shares of DPL common stock in anticipation of
completing the pending merger with Dolphin Sub, Inc., a
wholly-owned subsidiary of The AES Corporation, sometime during the
fourth quarter of this year. This pro-rated dividend is
contemplated by the merger agreement between DPL and AES.
DPL common shareholders of record on the day before the closing
date of the merger will receive $0.00361413 per common share for
each day elapsed from and including October 1, 2011 through and
including the day before the closing date of the merger. This
pro-rated dividend, which is the daily equivalent of the current
quarterly dividend rate of $0.3325 per share, will be paid within
30 days after the closing date of the merger.
This pro-rated dividend is in addition to the previously
announced quarterly common stock dividend that will be paid on
December 1, 2011 to shareholders of record as of November 15,
2011.
Completion of the merger between DPL and AES is subject to
certain conditions, including the receipt of regulatory approvals
from the Federal Energy Regulatory Commission and The Public
Utilities Commission of Ohio. If the merger is not completed during
the fourth quarter of 2011, then DPL will not pay such prorated
dividend and anticipates it will declare a full regular dividend
for the fourth quarter sometime in January and a pro-rated
dividend for the first quarter of 2012 if the merger transaction
closes during such first quarter.
About DPL
DPL Inc. (NYSE:DPL) is a regional energy company. DPL’s
principal subsidiaries include The Dayton Power and Light Company
(DP&L); DPL Energy, LLC (DPLE); and DPL Energy Resources, Inc.
(DPLER), which also does business as DP&L Energy. The Dayton
Power and Light Company, a regulated electric utility, provides
service to over 500,000 retail customers in West Central Ohio; DPLE
engages in the operation of merchant peaking generation facilities;
and DPLER is a competitive retail electric supplier. DPL, through
its subsidiaries, owns and operates approximately 3,800 megawatts
of generation capacity, of which 2,800 megawatts are coal-fired
units and 1,000 megawatts are natural gas and diesel peaking units.
Further information can be found at www.dplinc.com.
Forward Looking Statements
Certain statements contained in this press release are
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995. Matters discussed in this
press release that relate to events or developments that are
expected to occur in the future, including the pending merger
transaction between DPL and Dolphin Sub, Inc., a wholly-owned
subsidiary of The AES Corporation (collectively “AES”) and the
expected timing and completion of the transaction, management’s
expectations, strategic objectives, business prospects, anticipated
economic performance and financial condition and other similar
matters constitute forward-looking statements. Forward-looking
statements are based on management’s beliefs, assumptions and
expectations of future economic performance, taking into account
the information currently available to management. These statements
are not statements of historical fact and are typically identified
by terms and phrases such as “anticipate,” “believe,” “intend,”
“estimate,” “expect,” “continue,” “should,” “could,” “may,” “plan,”
“project,” “predict,” “will,” and similar expressions. Such
forward-looking statements are subject to risks and uncertainties,
and investors are cautioned that outcomes and results may vary
materially from those projected due to various factors beyond our
control, including but not limited to: abnormal or severe weather
and catastrophic weather-related damage; unusual maintenance or
repair requirements; changes in fuel costs and purchased power,
coal, environmental emissions, natural gas, oil, and other
commodity prices; volatility and changes in markets for electricity
and other energy-related commodities; performance of our suppliers
and other counterparties; increased competition and deregulation in
the electric utility industry; increased competition in the retail
generation market; a material deterioration in DPL’s retail and/or
wholesale businesses and assets; changes in interest rates; state,
federal and foreign legislative and regulatory initiatives that
affect cost and investment recovery, emission levels and
regulations, rate structures or tax laws; changes in federal and/or
state environmental laws and regulations to which DPL and its
subsidiaries are subject; the development and operation of Regional
Transmission Organizations (RTOs), including PJM Interconnection,
L.L.C. (PJM) to which DPL’s operating subsidiary (DP&L) has
given control of its transmission functions; changes in our
purchasing processes, pricing, delays, employee, contractor, and
supplier performance and availability; significant delays
associated with large construction projects; growth in our service
territory and changes in demand and demographic patterns; changes
in accounting rules and the effect of accounting pronouncements
issued periodically by accounting standard-setting bodies;
financial market conditions; the outcomes of litigation and
regulatory investigations, proceedings or inquiries; general
economic conditions; an otherwise material adverse change in the
business, assets, financial condition or results of operations of
DPL; and the risks and other factors discussed in DPL’s and
DP&L’s filings with the Securities and Exchange Commission.
Regarding the pending merger transaction with AES, there can be no
assurance as to the timing of the closing of the transaction, or
whether the transaction will close at all. The following factors,
among others, could also cause or contribute to causing our actual
results to differ materially from the results anticipated in our
forward looking statements: the ability to obtain required
regulatory approvals of the transaction or to satisfy other
conditions to the transaction on the terms and expected timeframe
or at all; transaction costs; and the effects of disruption from
the transaction making it more difficult to maintain relationships
with employees, customers, other business partners or government
entities.
Forward-looking statements speak only as of the date of the
document in which they are made. We disclaim any obligation or
undertaking to provide any updates or revisions to any
forward-looking statement to reflect any change in our expectations
or any change in events, conditions or circumstances on which the
forward-looking statement is based.
This communication shall not constitute an offer to sell or the
solicitation of an offer to buy any securities, nor shall there be
any sale of securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction.
No offering of securities shall be made except by means of a
prospectus meeting the requirements of Section 10 of the Securities
Act of 1933, as amended.
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