AKRON, Ohio, March 19, 2019 /PRNewswire/ -- The Board of
Directors of FirstEnergy Corp. (NYSE: FE) today declared an
unchanged quarterly dividend of 38
cents per share of outstanding common stock. The dividend
will be payable June 1, 2019, to
shareholders of record at the close of business on May 7, 2019.
FirstEnergy is dedicated to 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 24,500 miles of transmission lines that
connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on
Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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. Unless the context requires
otherwise, as used herein, references to "we," "us," "our," and
"FirstEnergy" refer to FirstEnergy Corp. Forward-looking 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, and
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 ability to successfully execute an exit
from commodity-based generation; the risks associated with the
Chapter 11 bankruptcy proceedings involving FirstEnergy Solutions
Corp. (FES), its subsidiaries, and FirstEnergy Nuclear Operating
Company (FENOC) (FES Bankruptcy) that could adversely affect
FirstEnergy, FirstEnergy's liquidity or results of operations,
including, without limitation, that conditions to our settlement
agreement with respect to the FES Bankruptcy settlement agreement
may not be met or that such settlement agreement may not be
otherwise consummated, and if so, the potential for litigation and
payment demands against us by FES, FENOC or their creditors; the
ability to accomplish or realize anticipated benefits from
strategic and financial goals, including, but not limited to, our
strategy to operate and grow as a fully regulated business, to
execute our transmission and distribution investment plans, to
continue to reduce costs through FE Tomorrow, which is the
FirstEnergy initiative launched in late 2016 to identify our
optimal organization structure and properly align corporate costs
and systems to efficiently support FirstEnergy as a fully regulated
company going forward, and other initiatives, and to improve our
credit metrics, strengthen our balance sheet and grow earnings;
legislative and regulatory developments at the federal and state
levels, including, but not limited to, matters related to rates,
compliance and enforcement activity; economic and weather
conditions affecting future operating results, such as significant
weather events and other natural disasters, and associated
regulatory events or actions; changes in assumptions regarding
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; changes in customers' demand
for power, including, but not limited to, the impact of state and
federal energy efficiency and peak demand reduction mandates;
changes in national and regional economic conditions affecting us
and/or our major industrial and commercial customers or others with
which we do business; the risks associated with cyber-attacks and
other disruptions to our information technology system that may
compromise our operations, and data security breaches of sensitive
data, intellectual property and proprietary or personally
identifiable information; the ability to comply with applicable
state and federal reliability standards and energy efficiency and
peak demand reduction mandates; changes to federal and state
environmental laws and regulations, including, but not limited to,
those related to climate change; changing market conditions
affecting the measurement of certain liabilities and the value of
assets held in our pension trusts and other trust funds, or causing
us to make additional contributions sooner, or in amounts that are
larger, than currently anticipated; the risks associated with the
decommissioning of the retired nuclear facility owned by
FirstEnergy subsidiaries; the risks and uncertainties associated
with litigation, arbitration, mediation and like proceedings; labor
disruptions by the unionized workforce of FirstEnergy subsidiaries;
changes to significant accounting policies; any changes in tax laws
or regulations, including the Tax Cuts and Jobs Act, adopted
December 22, 2017, or adverse tax
audit results or rulings; 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; actions that may be
taken by credit rating agencies that could negatively affect either
our access to or terms of financing or our financial condition and
liquidity; and the risks and other factors discussed from time to
time in FirstEnergy's Securities and Exchange Commission (SEC)
filings. Dividends declared from time to time on FirstEnergy's
common stock, and thereby on FirstEnergy's preferred stock, during
any period may in the aggregate vary from prior periods due to
circumstances considered by FirstEnergy'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's SEC
filings with the SEC, including but not limited to the most recent
Annual Report on Form 10-K and subsequent Quarterly Reports on Form
10-Q, together with any subsequent 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 our 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.
We expressly disclaim any obligation to update or revise, except as
required by law, any forward-looking statements contained herein as
a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.