IRVING, Texas, Feb. 25, 2020 /PRNewswire/ -- Vistra Energy
(NYSE: VST) announced today that its board of directors has
declared a quarterly dividend of $0.135 per share of Vistra's common stock,
representing an 8% increase in the company's quarterly common stock
dividend and bringing the annualized dividend to $0.54 per share. The dividend is payable on
March 31, 2020, to shareholders of
record as of March 17, 2020. The ex-dividend date will be
March 16, 2020.
"We are pleased to be increasing our dividend at the high end of
our expected 6-8% growth rate, which is supported by our stable and
growing EBITDA profile and high free cash flow conversion ratio,"
said Curt Morgan, president and
chief executive officer of Vistra. "This dividend represents just
over 10% of Vistra's forecasted 2020 free cash flow before growth.
A dividend at this level and growth rate leaves ample capital
available to implement a diverse capital allocation plan in the
future, including a commitment to return a meaningful amount of
capital to shareholders."
Media
Meranda Cohn
214-875-8004
Media.Relations@vistraenergy.com
Analysts
Molly Sorg
214-812-0046
Investor@vistraenergy.com
About Vistra Energy
Vistra Energy (NYSE: VST) is a premier, integrated, Fortune 350
energy company based in Irving,
Texas, providing essential resources for customers,
commerce, and communities. Vistra combines an innovative,
customer-centric approach to retail with safe, reliable, diverse,
and efficient power generation. The company brings its products and
services to market in 20 states and the District of Columbia, including six of the
seven competitive retail markets in the U.S. and markets in
Canada and Japan, as well. Serving nearly 5 million
residential, commercial, and industrial retail customers with
electricity and gas, Vistra is the largest competitive residential
electricity provider in the country and offers over 40 renewable
energy plans. The company is also the largest competitive power
generator in the U.S. with a capacity of approximately 39,000
megawatts powered by a diverse portfolio of natural gas, nuclear,
coal, solar, and battery energy storage facilities. In addition,
the company is a large purchaser of wind power. The company is
currently developing the largest battery storage system of its kind
in the world – a 300-MW/1,200-MWh system in Moss Landing, California. Vistra is guided by
four core principles: we do business the right way, we work as a
team, we compete to win, and we care about our people, our
neighbors, and our stakeholders.
Cautionary Note Regarding Forward-Looking
Statements
The information presented herein includes
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements, which are based on current expectations, estimates and
projections about the industry and markets in which Vistra Energy
Corp. ("Vistra Energy") operates and beliefs of and assumptions
made by Vistra Energy's management, involve risks and
uncertainties, which are difficult to predict and are not
guarantees of future performance, that could significantly affect
the financial results of Vistra Energy. All statements, other than
statements of historical facts, that are presented herein, or in
response to questions or otherwise, that address activities, events
or developments that may occur in the future, including such
matters as activities related to our financial or operational
projections, projected synergy, value lever and net debt targets,
capital allocation, capital expenditures, liquidity, projected
Adjusted EBITDA to free cash flow conversion rate, dividend policy,
business strategy, competitive strengths, goals, future
acquisitions or dispositions, development or operation of power
generation assets, market and industry developments and the growth
of our businesses and operations (often, but not always, through
the use of words or phrases, or the negative variations of those
words or other comparable words of a future or forward-looking
nature, including, but not limited to, "intends," "plans," "will
likely," "unlikely," "believe," "expect," "seek," "anticipate,"
"estimate," "continue," "will," "shall," "should," "could," "may,"
"might," "predict," "project," "forecast," "target," "potential,"
"forecast," "goal," "objective," "guidance" and "outlook"),are
forward-looking statements. Readers are cautioned not to place
undue reliance on forward-looking statements. Although Vistra
Energy believes that in making any such forward-looking statement,
Vistra Energy's expectations are based on reasonable assumptions,
any such forward-looking statement involves uncertainties and risks
that could cause results to differ materially from those projected
in or implied by any such forward-looking statement, including but
not limited, to: (i) adverse changes in general economic or market
conditions (including changes in interest rates) or changes in
political conditions or federal or state laws and regulations; (ii)
the ability of Vistra Energy to execute upon its contemplated
strategic and performance initiatives and to successfully integrate
acquired businesses; (iii) actions by credit ratings agencies; and
(iv) those additional risks and factors discussed in reports filed
with the Securities and Exchange Commission ("SEC") by Vistra
Energy from time to time, including the uncertainties and risks
discussed in the sections entitled "Risk Factors" and
"Forward-Looking Statements" in Vistra Energy's annual report on
Form 10-K for the year ended December 31,
2018 and any subsequently filed quarterly reports on Form
10-Q.
Any forward-looking statement speaks only at the date on which
it is made, and except as may be required by law, Vistra Energy
will not undertake any obligation to update any forward-looking
statement to reflect events or circumstances after the date on
which it is made or to reflect the occurrence of unanticipated
events. New factors emerge from time to time, and it is not
possible to predict all of them; nor can Vistra Energy assess the
impact of each such factor or the extent to which any factor, or
combination of factors, may cause results to differ materially from
those contained in any forward-looking statement.
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SOURCE Vistra Energy