AKRON,
Ohio, Dec. 20, 2023 /PRNewswire/ -- The Board of
Directors of FirstEnergy Corp. (NYSE: FE) today declared a
quarterly dividend of $0.41 per share
of outstanding common stock payable March 1,
2024, to shareholders of record at the close of business on
February 7, 2024.
Shareholders are encouraged to review the Dividend - Return of
Capital page on FirstEnergy's Investor Information website,
www.firstenergycorp.com/ir, for an update on the expected
characterization of this dividend for federal tax purposes.
FirstEnergy is dedicated to integrity, safety, reliability and
operational excellence. Its 10 electric distribution companies form
one of the nation's largest investor-owned electric systems,
serving customers in Ohio,
Pennsylvania, New Jersey, West
Virginia, Maryland and
New York. The company's
transmission subsidiaries operate approximately 24,000 miles of
transmission lines that connect the Midwest and Mid-Atlantic
regions. Follow FirstEnergy online at
www.firstenergycorp.com and on X, formerly known as Twitter,
@FirstEnergyCorp.
Forward-Looking Statements: This news release
includes forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995 based on
information currently available to management. Such statements are
subject to certain risks and uncertainties and readers are
cautioned not to place undue reliance on these forward-looking
statements. These statements include declarations regarding
management's intents, beliefs and current expectations. These
statements typically contain, but are not limited to, the terms
"anticipate," "potential," "expect," "forecast," "target," "will,"
"intend," "believe," "project," "estimate," "plan" and similar
words. Forward-looking statements involve estimates, assumptions,
known and unknown risks, uncertainties and other factors that may
cause actual results, performance or achievements to be materially
different from any future results, performance or achievements
expressed or implied by such forward-looking statements, which may
include the following: the potential liabilities, increased costs
and unanticipated developments resulting from government
investigations and agreements, including those associated with
compliance with or failure to comply with the Deferred Prosecution
Agreement entered into July 21, 2021
with the U.S. Attorney's Office for the Southern District of
Ohio; the risks and uncertainties
associated with government investigations and audits regarding Ohio
House Bill 6, as passed by Ohio's
133rd General Assembly ("HB 6") and related matters, including
potential adverse impacts on federal or state regulatory matters,
including, but not limited to, matters relating to rates; the risks
and uncertainties associated with litigation, arbitration,
mediation, and similar proceedings, particularly regarding HB 6
related matters, including risks associated with obtaining
dismissal of the derivative shareholder lawsuits; changes in
national and regional economic conditions, including recession,
rising interest rates, inflationary pressure, supply chain
disruptions, higher energy costs, and workforce impacts, affecting
us and/or our customers and those vendors with which we do
business; weather conditions, such as temperature variations and
severe weather conditions, or other natural disasters affecting
future operating results and associated regulatory actions or
outcomes in response to such conditions; legislative and regulatory
developments, including, but not limited to, matters related to
rates, compliance and enforcement activity, cybersecurity, and
climate change; the risks associated with cyber-attacks and other
disruptions to our, or our vendors', information technology system,
which may compromise our operations, and data security breaches of
sensitive data, intellectual property and proprietary or personally
identifiable information; the ability to meet our goals relating to
employee, environmental, social and corporate governance
opportunities, improvements, and efficiencies, including our
greenhouse gas ("GHG") reduction goals; the ability to accomplish
or realize anticipated benefits from our FE Forward initiative and
our other strategic and financial goals, including, but not limited
to, overcoming current uncertainties and challenges associated with
the ongoing government investigations, executing our transmission
and distribution investment plans, executing on our rate filing
strategy, controlling costs, improving our credit metrics, growing
earnings, strengthening our balance sheet, and satisfying the
conditions necessary to close the sale of additional membership
interests of FirstEnergy Transmission, LLC; changing market
conditions affecting the measurement of certain liabilities and the
value of assets held in our pension trusts may negatively impact
our forecasted growth rate, results of operations, and may also
cause us to make contributions to our pension sooner or in amounts
that are larger than currently anticipated; mitigating exposure for
remedial activities associated with retired and formerly owned
electric generation assets; changes to environmental laws and
regulations, including but not limited to those related to climate
change; changes in customers' demand for power, including but not
limited to, economic conditions, the impact of climate change or
energy efficiency and peak demand reduction mandates; the ability
to access the public securities and other capital and credit
markets in accordance with our financial plans, the cost of such
capital and overall condition of the capital and credit markets
affecting us, including the increasing number of financial
institutions evaluating the impact of climate change on their
investment decisions; future actions taken by credit rating
agencies that could negatively affect either our access to or terms
of financing or our financial condition and liquidity; changes in
assumptions regarding factors such as economic conditions within
our territories, the reliability of our transmission and
distribution system, or the availability of capital or other
resources supporting identified transmission and distribution
investment opportunities; the potential of non-compliance with debt
covenants in our credit facilities; the ability to comply with
applicable reliability standards and energy efficiency and peak
demand reduction mandates; human capital management challenges,
including among other things, attracting and retaining
appropriately trained and qualified employees and labor disruptions
by our unionized workforce; changes to significant accounting
policies; any changes in tax laws or regulations, including, but
not limited to, the Inflation Reduction Act of 2022, or adverse tax
audit results or rulings; and the risks and other factors discussed
from time to time in our Securities and Exchange Commission ("SEC")
filings. Dividends declared from time to time on FirstEnergy
Corp.'s common stock during any period may in the aggregate vary
from prior periods due to circumstances considered by FirstEnergy
Corp.'s Board of Directors at the time of the actual declarations.
A security rating is not a recommendation to buy or hold securities
and is subject to revision or withdrawal at any time by the
assigning rating agency. Each rating should be evaluated
independently of any other rating. These forward-looking statements
are also qualified by, and should be read together with, the risk
factors included in FirstEnergy Corp.'s filings with the SEC,
including, but not limited to, the most recent Annual Report on
Form 10-K and Quarterly Report on Form 10-Q, and any subsequent
Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The
foregoing review of factors also should not be construed as
exhaustive. New factors emerge from time to time, and it is not
possible for management to predict all such factors, nor assess the
impact of any such factor on FirstEnergy Corp.'s business or the
extent to which any factor, or combination of factors, may cause
results to differ materially from those contained in any
forward-looking statements. FirstEnergy Corp. expressly disclaims
any obligation to update or revise, except as required by law, any
forward-looking statements contained herein or in the information
incorporated by reference as a result of new information, future
events or otherwise.
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SOURCE FirstEnergy Corp.