DOW JONES NEWSWIRES
FPL Group Inc. (FPL) officially changed its name to NextEra Energy Inc. Friday after shareholders approved the move, shedding a moniker that harkens to its past as a Florida-specific utility.
As it announced the change, which will include shifting its ticker symbol to NEE late next month, the company also gave a forecast for profit growth over the next five years.
The new name would reflect FPL's expansion into North America's top renewable energy producer operating in 28 states and Canada from a Florida utility holding company. The company's electric utility would continue to be known as Florida Power & Light Company
Chairman and Chief Executive Lew Hay said Friday the name was more fitting for the company after a decade of growth and diversification.
Hay said the company expects earnings per share to grow 5% to 7% from 2009's level in that time.
FPL shares closed Friday up 44 cents at $50.59.
-By Joan E. Solsman, Dow Jones Newswires; 212-416-2291; email@example.com