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.
FORWARD-LOOKING STATEMENT
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.
Want to know what's new at PSEG? Go to www.pseg.com/getnews
and sign up to have our press releases and weekly environmental
commentaries sent right to your inbox.
SOURCE Public Service Enterprise Group (PSEG)