NEWARK, N.J., Feb. 15, 2011 /PRNewswire/ -- The board of directors of Public Service Enterprise Group (PSEG) (NYSE: PEG) declared a regular common stock dividend today. This declaration represents the start of the 104th year of paying a common dividend on an uninterrupted basis.
Ralph Izzo, PSEG chairman, president and CEO said, "We take great pride in PSEG's history of returning cash to shareholders through the dividend and recognize the important role the dividend plays as part of the return expected by our shareholders."
The board declared the quarterly dividend of 34.25 cents per share. The first dividend in 2011 is payable on March 31, 2011, to shareholders of record on March 10, 2011.
All future changes in the common dividend are subject to board approval.
Readers are cautioned that statements contained in this presentation about our and our subsidiaries' future performance, including future revenues, earnings, strategies, prospects, consequences and all other statements that are not purely historical, are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. When used herein, the words "anticipate", "intend", "estimate", "believe", "expect", "plan", "should", "hypothetical", "potential", "forecast", "project", variations of such words and similar expressions are intended to identify forward-looking statements. Although we believe that our expectations are based on reasonable assumptions, they are subject to risks and uncertainties and we can give no assurance they will be achieved. The results or developments projected or predicted in these statements may differ materially from what may actually occur. Factors which could cause results or events to differ from current expectations include, but are not limited to:
- Adverse changes in energy industry law, policies and regulation, including market structures, transmission planning and cost allocation rules, including rules regarding who is permitted to build transmission going forward, and reliability standards.
- Any inability of our transmission and distribution businesses to obtain adequate and timely rate relief and regulatory approvals from federal and state regulators.
- Changes in federal and state environmental regulations that could increase our costs or limit operations of our generating units.
- Changes in nuclear regulation and/or developments in the nuclear power industry generally that could limit operations of our nuclear generating units.
- Actions or activities at one of our nuclear units located on a multi-unit site that might adversely affect our ability to continue to operate that unit or other units located at the same site.
- Any inability to balance our energy obligations, available supply and trading risks.
- Any deterioration in our credit quality.
- Availability of capital and credit at commercially reasonable terms and conditions and our ability to meet cash needs.
- Any inability to realize anticipated tax benefits or retain tax credits.
- Changes in the cost of, or interruption in the supply of, fuel and other commodities necessary to the operation of our generating units.
- Delays in receipt of necessary permits and approvals for our construction and development activities,
- Delays or unforeseen cost escalations in our construction and development activities.
- Adverse changes in the demand for or price of the capacity and energy that we sell into wholesale electricity markets.
- Increase in competition in energy markets in which we compete.
- Adverse performance of our decommissioning and defined benefit plan trust fund investments and changes in discount rates and funding requirements.
- Changes in technology and customer usage patterns.
For further information, please refer to our Annual Report on Form 10-K, including Item 1A. Risk Factors, and subsequent reports on Form 10-Q and Form 8-K filed with the Securities and Exchange Commission. These documents address in further detail our business, industry issues and other factors that could cause actual results to differ materially from those indicated in this presentation. In addition, any forward-looking statements included herein represent our estimates only as of today and should not be relied upon as representing our estimates as of any subsequent date. While we may elect to update forward-looking statements from time to time, we specifically disclaim any obligation to do so, even if our internal estimates change, unless otherwise required by applicable securities laws.
Public Service Enterprise Group (NYSE: PEG) is a publicly traded diversified energy company with annual revenues of more than $12 billion, and three principal subsidiaries: PSEG Power, Public Service Electric and Gas Company (PSE&G) and PSEG Energy Holdings.
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SOURCE Public Service Enterprise Group (PSEG)