FirstEnergy Corp. announced an increase in its common stock dividend to $0.425 per share, representing an annual rate of $1.70 per share pending Board approval. The Board of Directors declared the quarterly dividend to be paid on June 1, 2024, to shareholders of record as of May 7, 2024.
"We're pleased to announce this enhanced dividend payout to investors, which reflects our confidence in our strategies and our success in strengthening our financial position," said Brian X. Tierney, President and Chief Executive Officer. "Our goal is to increase our dividend in line with operating earnings growth over time."
The new dividend amount marks an increase of more than 6% compared to the dividends declared in 2023. The company expects to declare dividends totaling $1.70 per share in 2024, compared to $1.60 per share in the previous year.
FirstEnergy also provided information for shareholders regarding the expected characterization of dividends for federal tax purposes, encouraging them to review details on the company's Investor Information website.
FirstEnergy Corp. is known for its dedication to integrity, safety, reliability, and operational excellence. The company's electric distribution companies serve more than six million customers across several states. Additionally, its transmission subsidiaries operate approximately 24,000 miles of transmission lines connecting the Midwest and Mid-Atlantic regions.
For more information, individuals can visit FirstEnergy's website at www.firstenergycorp.com or follow the company on X, formerly known as Twitter, @FirstEnergyCorp.
Contact information for media inquiries is Tricia Ingraham at (330) 384-5247, and for investor inquiries, Irene Prezelj at (330) 384-3859.