PPL (PPL) Stock News

PPL Corporation has appointed Craig A. Rogerson as independent board chair, effective March 1, 2021, following the retirement of William H. Spence. Rogerson, a board member since 2005, brings extensive leadership experience from his tenure in various chemical companies, including Hexion. The move emphasizes PPL's focus on corporate governance and leadership continuity. Rogerson expressed gratitude for Spence's contributions and aims to enhance operational excellence and shareholder value with current CEO Vince Sorgi.

PPL Corporation announced a record $7 million raised through its fall charitable giving campaigns, with support from employees and retirees. The funds will benefit local United Way agencies and nonprofits, targeting families affected by COVID-19, expanding educational opportunities, and providing essential health and social services. In total, over $10 million has been contributed this year by PPL and its foundations to support community initiatives, including addressing economic hardships and promoting social justice. PPL reaffirms its commitment to corporate citizenship and community support.

PPL Corporation (NYSE: PPL) announced the retirement of Joanne H. Raphael, executive vice president, general counsel, and corporate secretary, effective June 1, 2021, after 35 years with the company. Her career includes serving as general counsel since June 2015 and leading PPL's External Affairs since 1998. The company expresses gratitude for her leadership and commitment to diversity. PPL will conduct an internal and external search for her successor while ensuring a seamless transition.

PPL Corporation (NYSE: PPL) announced a quarterly common stock dividend of $0.4150 per share, declared on November 20, 2020. This dividend will be payable on January 4, 2021, to shareholders of record as of December 10, 2020. PPL, a major U.S. utility provider, serves around 10 million customers in the U.S. and the U.K., employing over 12,000 staff dedicated to exceptional service and shareholder value.

On Nov. 13, 2020, LG&E and KU highlighted their commitment to providing reliable service during the pandemic while seeking a rate adjustment due to rising costs. They suspended late fees and disconnections, donated to COVID-19 relief, and invested in infrastructure, reducing outage frequency by 20%. An adjustment request will be filed on Nov. 25, 2020, to offset increased costs with an Economic Relief Surcredit of $53 million, impacting residential bills starting mid-2021. Despite the adjustment, LG&E's rates are 17% and KU's are 22% below the national average.

PPL Corporation (NYSE: PPL) reported third-quarter 2020 earnings of $281 million, down 41% from $475 million a year earlier, resulting in earnings per share (EPS) of $0.37 compared to $0.65 in Q3 2019. For the year-to-date, earnings total $1.18 billion, or $1.53 EPS, a decline from $1.38 billion, or $1.89 EPS, in 2019. Adjusted earnings from ongoing operations were $450 million ($0.58 EPS), slightly up from $445 million ($0.61 EPS) a year ago. PPL narrowed its 2020 earnings guidance to $2.40-$2.50 per share, influenced by COVID-19 challenges and milder weather impacts.

PPL Corporation (NYSE: PPL) will release its consolidated third-quarter 2020 earnings results on November 5. During a conference call at 11 a.m. Eastern time, PPL's CEO, Vincent Sorgi, will discuss the quarterly results and business outlook. The call will be accessible via webcast and a replay will be available at www.pplweb.com/investors for 90 days. PPL is one of the largest companies in the U.S. utility sector, serving 10 million customers across the U.S. and UK.

PPL Corporation (NYSE: PPL) has appointed Arthur P. Beattie, former CFO of Southern Company, to its board of directors, effective immediately. Beattie brings over 40 years of utility industry experience and will serve on the Audit Committee. His background includes financial planning, risk management, and mergers and acquisitions. PPL Board Chair William H. Spence emphasized that Beattie’s expertise would enhance the board’s capabilities for long-term growth and success. PPL serves over 10 million customers across the U.S. and U.K.

PPL Electric Utilities announced a significant achievement in its smart grid technology, reporting over 1 million avoided outages since 2015. This advancement has led to customers avoiding 100 million minutes of power outages, translating to more than 190 years of uninterrupted service. The smart grid, characterized by advanced sensors and software, has contributed to a nearly one-third reduction in outage frequency since 2011. PPL is actively exploring new reliability measures, including battery solutions for rural customers. The company serves over 1.4 million customers in Pennsylvania.