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AKRON, Ohio - FirstEnergy Corp. (NYSE:FE), a utility company with a market capitalization of $23.76 billion, announced Wednesday that its Board of Directors has declared a quarterly dividend of $0.445 per share of outstanding common stock. The dividend will be payable on September 1, 2025, to shareholders of record as of August 7, 2025.
The quarterly payment represents an annual dividend rate of $1.78 per share for 2025, subject to continued Board approval. This marks an increase from the $1.70 per share declared in 2024, and reflects more than an 11% rise in annual dividend declarations since 2023. According to InvestingPro data, FirstEnergy has maintained dividend payments for 28 consecutive years, with the current yield standing at 4.28%.
FirstEnergy operates one of the nation’s largest investor-owned electric systems, with electric distribution companies serving over six million customers across six states: Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company’s transmission subsidiaries manage approximately 24,000 miles of transmission lines connecting the Midwest and Mid-Atlantic regions.
The dividend announcement comes as part of the company’s regular quarterly financial activities. According to the press release statement, FirstEnergy focuses on integrity, safety, reliability and operational excellence in its business operations.
In other recent news, FirstEnergy Corp. announced the launch of a $2.15 billion private placement offering of convertible senior notes. This includes $1.15 billion of 3.625% notes due in 2029 and $1 billion of 3.875% notes due in 2031, with potential additional options valued at $350 million. The company plans to use the estimated net proceeds of approximately $2.13 billion for various corporate purposes, including repurchasing outstanding notes and refinancing existing debt. In management updates, FirstEnergy appointed Christopher Lopez as Vice President of Labor Relations and Karen Kinslow as Vice President of Pennsylvania Operations, both effective July 28. Analyst firms have made recent adjustments to FirstEnergy’s stock price targets. Jefferies raised its target from $42 to $43, citing an improving risk-reward profile, though it maintained its Hold rating. Conversely, BofA Securities lowered its price target from $45 to $44 due to uncertainty surrounding the Ohio rate case. Despite these adjustments, both firms maintained a neutral stance on the stock.
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