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PPL Expects Top-tier 6% To 8% EPS And Dividend Growth Through At Least 2026; Guides FY23 EPS In Line
(RTTNews) - PPL Corp. (PPL) announced Wednesday an updated business plan that is expected to generate top-tier 6 to 8 percent earnings and dividend growth through at least 2026 with strong growth opportunities beyond. The company also expects $14.3 billion of capital investments through 2026, a more than 20% increase from prior plan.
PPL said it expects 2023 earnings in the range of $1.50 to $1.65 per share. On average, 11 analysts polled by Thomson Reuters currently expect the company to report earnings of $1.59 per share for the year. Analysts' estimates typically exclude special items.
The company also announced that it expects to increase its next quarterly common stock dividend by 7 percent to $0.24 per share from the current dividend of $0.225 per share, subject to approval by the Board of Directors.
Additionally, PPL announced that utility industry veteran Linda Sullivan has joined its Board of Directors, effective January 10, 2023. She will serve on PPL's Compensation and Finance committees. With Sullivan's appointment, PPL's board comprises 10 directors.
Sullivan spent nearly three decades in the utility industry, serving as executive vice president and chief financial officer of American Water Works Company, Inc., from 2014 to 2019, and more than 20 years in a variety of leadership roles with Edison International.
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