HomeFebruary 7, 2013
Flash: Exelon Cuts Dividend
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Exelon this morning announced a cut to its dividend, "to position us to maintain our investment grade rating, return a stable dividend and provide capacity to invest in growth."
Exelon had previously warned of a possible dividend cut due to weak power market conditions.
Specifically, Exelon's Board of Directors approved a revised dividend policy going forward. The new dividend policy contemplates a regular $0.31 per share quarterly dividend beginning in the second quarter of 2013 (or $1.24 per share on an annualized basis).
This contrasts to a first quarter 2013 dividend of $0.525 per share, which had been based on the previous level of $2.10 per share on an annualized basis.
Exelon also reported fourth quarter and fiscal 2012 annual earnings this morning.
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