JUNO BEACH, Fla., Feb. 18, 2022 /PRNewswire/ -- The board of
directors of NextEra Energy, Inc. (NYSE: NEE) declared a regular
quarterly common stock dividend of $0.425, an approximate 10% increase versus the
prior-year comparable quarterly dividend. This increase is
consistent with the plan announced in 2020 of targeting roughly 10%
annual growth in dividends per share through at least 2022, off a
2020 base. The dividend is payable on March
15, 2022, to shareholders of record on March 1, 2022.
The board also approved an updated dividend policy for beyond
2022, which is expected to translate to a growth rate in dividends
per share of roughly 10% per year through at least 2024, off a 2022
base, which is expected to be $1.70
per share.
"The board's approval to continue to grow our dividends per
share in excess of our expected adjusted earnings per share growth
rate is a result of our success in executing on our
industry-leading business strategy," said Jim Robo, chairman and chief executive officer
of NextEra Energy. "With a 60% payout ratio at the end of
2021, below the peer average of approximately 65%, and the
continued strength of the earnings and operating cash flow growth
at NextEra Energy, we remain well-positioned to support the
dividend policy going forward. I believe we continue to offer a
best-in-class total return potential, with above-average dividend
growth and clear visibility to deliver financial results at or near
the top end of our adjusted earnings per share expectations ranges
in 2022, 2023, 2024 and 2025, while at the same time maintaining
our strong credit ratings."
NextEra Energy, Inc.
NextEra Energy, Inc. (NYSE: NEE)
is a leading clean energy company headquartered in Juno Beach, Florida. NextEra Energy owns
Florida Power & Light Company,
which is the largest vertically integrated rate-regulated electric
utility in the United States as
measured by retail electricity produced and sold, and serves more
than 5.7 million customer accounts, supporting more than 11 million
residents across Florida with clean, reliable and affordable
electricity. NextEra Energy also owns a competitive clean energy
business, NextEra Energy Resources, LLC, which, together with its
affiliated entities, is the world's largest generator of renewable
energy from the wind and sun and a world leader in battery storage.
Through its subsidiaries, NextEra Energy generates clean,
emissions-free electricity from seven commercial nuclear power
units in Florida, New Hampshire and Wisconsin. A Fortune 200 company, NextEra
Energy has been recognized often by third parties for its efforts
in sustainability, corporate responsibility, ethics and compliance,
and diversity. NextEra Energy is ranked No. 1 in the electric and
gas utilities industry on Fortune's 2022 list of "World's Most
Admired Companies," recognized on Fortune's 2021 list of companies
that "Change the World" and received the S&P Global Platts 2020
Energy Transition Award for leadership in environmental, social and
governance. For more information about NextEra Energy companies,
visit these websites: www.NextEraEnergy.com, www.FPL.com,
www.NextEraEnergyResources.com.
Cautionary Statements and Risk Factors That
May Affect Future Results
This news release contains "forward-looking statements" within
the meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements are
not statements of historical facts, but instead represent the
current expectations of NextEra Energy, Inc. (together with its
subsidiaries, NextEra Energy) regarding future operating results
and other future events, many of which, by their nature, are
inherently uncertain and outside of NextEra Energy's control.
Forward-looking statements in this news release include, among
others, statements concerning adjusted earnings per share
expectations and future operating performance, statements
concerning future dividends, and results of acquisitions. In some
cases, you can identify the forward-looking statements by words or
phrases such as "will," "may result," "expect," "anticipate,"
"believe," "intend," "plan," "seek," "potential," "projection,"
"forecast," "predict," "goals," "target," "outlook," "should,"
"would" or similar words or expressions. You should not place
undue reliance on these forward-looking statements, which are not a
guarantee of future performance. The future results of
NextEra Energy and its business and financial condition are subject
to risks and uncertainties that could cause actual results to
differ materially from those expressed or implied in the
forward-looking statements, or may require it to limit or eliminate
certain operations. These risks and uncertainties include,
but are not limited to, those discussed in this news release and
the following: effects of extensive regulation of NextEra
Energy's business operations; inability of NextEra Energy to
recover in a timely manner any significant amount of costs, a
return on certain assets or a reasonable return on invested capital
through base rates, cost recovery clauses, other regulatory
mechanisms or otherwise; impact of political, regulatory,
operational and economic factors on regulatory decisions important
to NextEra Energy; disallowance of cost recovery based on a finding
of imprudent use of derivative instruments; effect of any
reductions or modifications to, or elimination of, governmental
incentives or policies that support utility scale renewable energy
projects or the imposition of additional tax laws, tariffs, duties,
policies or assessments on renewable energy or equipment necessary
to generate it or deliver it; impact of new or revised laws,
regulations, interpretations or constitutional ballot and
regulatory initiatives on NextEra Energy; capital expenditures,
increased operating costs and various liabilities attributable to
environmental laws, regulations and other standards applicable to
NextEra Energy; effects on NextEra Energy of federal or state laws
or regulations mandating new or additional limits on the production
of greenhouse gas emissions; exposure of NextEra Energy to
significant and increasing compliance costs and substantial
monetary penalties and other sanctions as a result of extensive
federal regulation of its operations and businesses; effect on
NextEra Energy of changes in tax laws, guidance or policies as well
as in judgments and estimates used to determine tax-related asset
and liability amounts; impact on NextEra Energy of adverse results
of litigation; effect on NextEra Energy of failure to proceed with
projects under development or inability to complete the
construction of (or capital improvements to) electric generation,
transmission and distribution facilities, gas infrastructure
facilities or other facilities on schedule or within budget; impact
on development and operating activities of NextEra Energy resulting
from risks related to project siting, planning, financing,
construction, permitting, governmental approvals and the
negotiation of project development agreements, as well as supply
chain disruptions; risks involved in the operation and maintenance
of electric generation, transmission and distribution facilities,
gas infrastructure facilities, retail gas distribution system in
Florida and other facilities;
effect on NextEra Energy of a lack of growth or slower growth in
the number of customers or in customer usage; impact on NextEra
Energy of severe weather and other weather conditions; threats of
terrorism and catastrophic events that could result from terrorism,
cyberattacks or other attempts to disrupt NextEra Energy's business
or the businesses of third parties; inability to obtain adequate
insurance coverage for protection of NextEra Energy against
significant losses and risk that insurance coverage does not
provide protection against all significant losses; a prolonged
period of low gas and oil prices could impact NextEra Energy's gas
infrastructure business and cause NextEra Energy to delay or cancel
certain gas infrastructure projects and could result in certain
projects becoming impaired; risk of increased operating costs
resulting from unfavorable supply costs necessary to provide full
energy and capacity requirement services; inability or failure to
manage properly or hedge effectively the commodity risk within its
portfolio; effect of reductions in the liquidity of energy markets
on NextEra Energy's ability to manage operational risks;
effectiveness of NextEra Energy's risk management tools associated
with its hedging and trading procedures to protect against
significant losses, including the effect of unforeseen price
variances from historical behavior; impact of unavailability or
disruption of power transmission or commodity transportation
facilities on sale and delivery of power or natural gas; exposure
of NextEra Energy to credit and performance risk from customers,
hedging counterparties and vendors; failure of counterparties to
perform under derivative contracts or of requirement for NextEra
Energy to post margin cash collateral under derivative contracts;
failure or breach of NextEra Energy's information technology
systems; risks to NextEra Energy's retail businesses from
compromise of sensitive customer data; losses from volatility in
the market values of derivative instruments and limited liquidity
in over-the-counter markets; impact of negative publicity;
inability to maintain, negotiate or renegotiate acceptable
franchise agreements; occurrence of work strikes or stoppages and
increasing personnel costs; NextEra Energy's ability to
successfully identify, complete and integrate acquisitions,
including the effect of increased competition for acquisitions;
environmental, health and financial risks associated with ownership
and operation of nuclear generation facilities; liability of
NextEra Energy for significant retrospective assessments and/or
retrospective insurance premiums in the event of an incident at
certain nuclear generation facilities; increased operating and
capital expenditures and/or reduced revenues at nuclear generation
facilities resulting from orders or new regulations of the Nuclear
Regulatory Commission; inability to operate any of NextEra Energy's
owned nuclear generation units through the end of their respective
operating licenses; effect of disruptions, uncertainty or
volatility in the credit and capital markets or actions by third
parties in connection with project-specific or other financing
arrangements on NextEra Energy's ability to fund its liquidity and
capital needs and meet its growth objectives; inability to maintain
current credit ratings; impairment of liquidity from inability of
credit providers to fund their credit commitments or to maintain
their current credit ratings; poor market performance and other
economic factors that could affect NextEra Energy's defined benefit
pension plan's funded status; poor market performance and other
risks to the asset values of nuclear decommissioning funds; changes
in market value and other risks to certain of NextEra Energy's
investments; effect of inability of NextEra Energy subsidiaries to
pay upstream dividends or repay funds to NextEra Energy or of
NextEra Energy's performance under guarantees of subsidiary
obligations on NextEra Energy's ability to meet its financial
obligations and to pay dividends on its common stock; the fact that
the amount and timing of dividends payable on NextEra Energy's
common stock, as well as the dividend policy approved by NextEra
Energy's board of directors from time to time, and changes to that
policy, are within the sole discretion of NextEra Energy's board of
directors and, if declared and paid, dividends may be in amounts
that are less than might be expected by shareholders; NextEra
Energy Partners, LP's inability to access sources of capital on
commercially reasonable terms could have an effect on its ability
to consummate future acquisitions and on the value of NextEra
Energy's limited partner interest in NextEra Energy Operating
Partners, LP; effects of disruptions, uncertainty or volatility in
the credit and capital markets on the market price of NextEra
Energy's common stock; and the ultimate severity and duration of
public health crises, epidemics and pandemics, and its effects on
NextEra Energy's business. NextEra Energy discusses these and other
risks and uncertainties in its annual report on Form 10-K for the
year ended December 31, 2021 and
other Securities and Exchange Commission (SEC) filings, and this
news release should be read in conjunction with such SEC filings.
The forward-looking statements made in this news release are made
only as of the date of this news release and NextEra Energy
undertakes no obligation to update any forward-looking
statements.
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SOURCE NextEra Energy, Inc.