AES Announces 100% Increase in Regular Quarterly Dividend
December 15 2014 - 7:00AM
Business Wire
The Board of Directors of The AES Corporation (NYSE:AES)
approved a 100% increase in the Company’s quarterly common stock
dividend, to $0.10 per share from $0.05 per share. The Board of
Directors will continue to review the dividend on an annual basis.
The Company expects the dividend to grow at an approximate 10%
annual rate, consistent with Parent Free Cash Flow growth of 10% to
15% per year on average through 2018. The Board of Directors
declared a quarterly common stock dividend of $0.10 per share
payable on February 17, 2015, to shareholders of record at the
close of business on February 3, 2015.
“I am pleased to announce that our Board of Directors has
approved doubling our dividend, beginning in the first quarter of
2015,” said Andrés Gluski, AES President and Chief Executive
Officer. “This decision reflects our strong and growing free cash
flow, which is being driven by our $9 billion construction program
underway. Through 2018, we will commission more than 7 GW of new or
upgraded capacity, with most of our equity commitments already
funded.”
“In order to maximize shareholder return, we are allocating
significantly more of our cash towards our dividend,” said Tom
O’Flynn, AES Executive Vice President and Chief Financial Officer.
“This dividend increase demonstrates management’s confidence in the
strength of our cash flow, which supports both a meaningful and
growing dividend, and our business growth initiatives."
The Company posted its latest investor presentation, with
additional information related to today’s announcement, to its
website at www.aes.com.
About AES
The AES Corporation (NYSE:AES) is a Fortune 200 global power
company. We provide affordable, sustainable energy to 20 countries
through our diverse portfolio of distribution businesses as well as
thermal and renewable generation facilities. Our workforce of
17,800 people is committed to operational excellence and meeting
the world’s changing power needs. Our 2013 revenues were $16
billion and we own and manage $40 billion in total assets. To learn
more, please visit www.aes.com. Follow AES on Twitter
@TheAESCorp.
Safe Harbor Disclosure
This news release contains forward-looking statements within the
meaning of the Securities Act of 1933 and of the Securities
Exchange Act of 1934. Such forward-looking statements include, but
are not limited to, those related to future earnings, growth and
financial and operating performance. Forward-looking statements are
not intended to be a guarantee of future results, but instead
constitute AES’ current expectations based on reasonable
assumptions. Forecasted financial information is based on certain
material assumptions. These assumptions include, but are not
limited to, our accurate projections of future interest rates,
commodity price and foreign currency pricing, continued normal
levels of operating performance and electricity volume at our
distribution companies and operational performance at our
generation businesses consistent with historical levels, as well as
achievements of planned productivity improvements and incremental
growth investments at normalized investment levels and rates of
return consistent with prior experience.
Actual results could differ materially from those projected in
our forward-looking statements due to risks, uncertainties and
other factors. Important factors that could affect actual results
are discussed in AES’ filings with the Securities and Exchange
Commission (the “SEC”), including, but not limited to, the risks
discussed under Item 1A “Risk Factors” and Item 7: Management’s
Discussion & Analysis in AES’ 2013 Annual Report on Form 10-K
and in subsequent reports filed with the SEC. Readers are
encouraged to read AES’ filings to learn more about the risk
factors associated with AES’ business. AES undertakes no obligation
to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
Any Stockholder who desires a copy of the Company’s 2013 Annual
Report on Form 10-K dated on or about February 25, 2014 with the
SEC may obtain a copy (excluding Exhibits) without charge by
addressing a request to the Office of the Corporate Secretary, The
AES Corporation, 4300 Wilson Boulevard, Arlington, Virginia 22203.
Exhibits also may be requested, but a charge equal to the
reproduction cost thereof will be made. A copy of the Form 10-K may
be obtained by visiting the Company’s website at www.aes.com.
The AES CorporationInvestor:Ahmed Pasha, 703-682-6451orMedia:Amy
Ackerman, 703-682-6399
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