Key Developments: PPL Corp (PPL.N)

PPL.N on New York Stock Exchange

35.24USD
26 Nov 2014
Price Change (% chg)

$0.04 (+0.11%)
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$35.20
Open
$35.25
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$35.39
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$35.14
Volume
882,654
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983,941
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$36.81
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Latest Key Developments (Source: Significant Developments)

PPL Corp increases common stock dividend
Thursday, 6 Feb 2014 06:57am EST 

PPL Corp:Says the dividend increase to $0.3725 per share on a quarterly basis will be payable Apr. 1 to share owners of record as of Mar. 10.  Full Article

PPL Corp gives FY 2014 EPS guidance in line with analysts' estimates
Thursday, 6 Feb 2014 06:57am EST 

PPL Corp:Forecasts fiscal 2014 earnings in the range of $2.05 to $2.25 per share (EPS), with a midpoint of $2.15 per share.Fiscal 2014 EPS of $2.16 - Thomson Reuters I/B/E/S.  Full Article

PPL Corp To Pay Quarterly Stock Dividend January 2
Friday, 22 Nov 2013 10:37am EST 

PPL Corporation announced that it has declared a quarterly common stock dividend on November, 11 2013 of $0.3675 per share payable January 2, 2014, to shareholders of record as of December 10, 2013.  Full Article

PPL Corp Raises Low End Of Prior FY 2013 EPS Guidance To A Range In Line With Analysts' Estimates
Thursday, 31 Oct 2013 07:05am EDT 

PPL Corp announced that it has increased fiscal 2013 forecast of earnings from ongoing operations is a range of $2.30 to $2.40 per share. According to I/B/E/S Estimates, analysts were expecting the Company to report EPS of $2.34 for fiscal 2013.  Full Article

U.S. Court Overrules New Jersey Law Subsidizing New Power Plants Involving PPL Corp-Reuters
Monday, 14 Oct 2013 12:29pm EDT 

Reuters reported that New Jersey cannot subsidize construction of new natural gas-fired electric plants in the state, a federal judge decided, ruling in favor of PPL Corp and other generators who sued to stop the subsidies. PPL and the other companies could lose money on electricity and capacity they sell from existing power plants if New Jersey subsidizes the construction of new plants. U.S. District Judge Peter Sheridan said in a decision released on October 11, 2013 that New Jersey's capacity law was unconstitutional because it violates the Supremacy Clause of the U.S. Constitution and infringed on the U.S. Federal Energy Regulatory Commission's (FERC) authority to regulate the sale of wholesale power in interstate commerce. Sheridan heard the case in April and May of 2013. The lawsuit challenged New Jersey's Long Term Capacity Agreement Pilot Program Act (LCAPP), passed in January 2011, requiring utilities to enter into long-term capacity contracts with generators chosen by the New Jersey Board of Public Utilities (BPU).  Full Article

U.S. Court Overrules Maryland Order Subsidizing New Power Plants Involving PPL Corp-Reuters
Tuesday, 1 Oct 2013 01:19pm EDT 

Reuters reported that U.S. District Court judge in Maryland sided with Pennsylvania power company PPL Corp and others and invalidated Maryland's attempt to subsidize development of new natural gas-fired generation in the state, PPL said on October 01, 2013. PPL and other electric generators brought the lawsuit because they could lose money on the power and capacity they sell if Maryland subsidizes the construction of new plants. The Maryland Public Service Commission (PSC) in April 2012 ordered state utilities to enter long-term power supply contracts with privately held power plant developer Competitive Power Ventures (CPV) to build a 660-megawatt plant in Maryland. U.S. District Judge Marvin Garbis said on September 30, 2013 that Maryland's generation order was unconstitutional because it infringed on the U.S. Federal Energy Regulatory Commission's authority to regulate the sale of wholesale power in interstate commerce.  Full Article

NorthWestern Corp Agrees To Acquire Hydroelectric Facilities From PPL Corp's PPL Montana
Thursday, 26 Sep 2013 04:45pm EDT 

NorthWestern Corp announced that it has entered into an agreement to acquire 11 hydroelectric facilities representing 633 MWs of generation, one storage reservoir, and related assets from PPL Montana, a wholly-owned subsidiary of PPL Corp, for a purchase price of $900 million, subject to adjustments as described below. NorthWestern's Board of Directors has approved the transaction. The proposed transaction is an asset acquisition for $900 million in cash. The purchase price is subject to adjustment for proration of operating expenses, performance of capital expenditures and termination of certain power purchase agreements. NorthWestern expects to fund the acquisition using a combination of debt securities, equity and available cash and to maintain its targeted debt to capital ratio of 50 - 55%, supporting a solid investment grade credit profile. Financing is supported by a fully committed bridge loan facility with Credit Suisse and Bank of America Merrill Lynch. In connection with the transaction, Credit Suisse acted as lead financial advisor and Bank of America Merrill Lynch acted as financial advisor to NorthWestern Energy. Skadden, Arps, Slate, Meagher & Flom LLP served as lead legal counsel to NorthWestern Energy and Dorsey & Whitney served as environmental counsel. Blackstone Advisory Partners rendered a fairness opinion to NorthWestern's Board of Directors.  Full Article

PPL Corp To Pay Quarterly Stock Dividend
Friday, 23 Aug 2013 09:24am EDT 

PPL Corporation announced that it has declared a quarterly common stock dividend of $0.3675 per share payable Oct. 1, 2013, to shareholders of record as of Sept. 10, 2013. It is PPL Corporation's 271st consecutive quarterly dividend.  Full Article

PPL Corp Raises Low End Of Prior FY 2013 EPS Guidance To A Range In Line With Analysts' Estimtes
Thursday, 1 Aug 2013 06:59am EDT 

PPL Corp announced that it has increased fiscal 2013 forecast of earnings from ongoing operations to a range of $2.25 to $2.40 per share, with a midpoint of $2.32 per share. The previous forecast range was $2.15 to $2.40 per share from ongoing operations. The 2013 forecast of reported earnings is $2.33 to $2.48 per share, reflecting special items recorded through the second quarter. According to I/B/E/S Estimates, analysts were expecting the Company to report EPS of $2.31 for fiscal 2013.  Full Article

Supreme Court Rules Utilities Can Claim U.S. Tax Credit on U.K. Windfall Tax, A Win For PPL Corp.-DJ
Monday, 20 May 2013 11:02am EDT 

Dow Jones reported that the U.S. Supreme Court ruled that utility companies that paid a windfall tax in the United Kingdom can claim a foreign tax credit on their U.S. tax returns. The ruling was a win for PPL Corp, which sought a U.S. credit after U.K. authorities assessed a windfall tax of about $140 million on a utility PPL partially owned. The subsidiary was one of several regional utilities that had been privatized in the U.K. Amid public concern that the government sold the utilities too cheaply, Parliament enacted a one-time windfall tax on the companies in 1997. The U.S. Tax Court in 2010 sided with PPL in its dispute with the Internal Revenue Service, but Philadelphia's Third U.S. Circuit Court of Appeals in 2011 overturned the decision and ruled for the government, finding the windfall tax was not creditable in the U.S. The Supreme Court, in an opinion by Justice Clarence Thomas, reversed the appeals-court decision and sided with the Company.  Full Article

Pembina buys pipeline to tap into Bakken shale production

- Pembina Pipeline Corp PPL.TO, which operates regional pipelines in western Canada, said on Tuesday it has agreed to pay $650 million to acquire Vantage pipeline system, which carries up to 40,000 barrels per day of natural gas liquids from North Dakota's Bakken shale field to southern Alberta.

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