AKRON,
Ohio, Dec. 18, 2024 /PRNewswire/ -- The Board of
Directors of FirstEnergy Corp. (NYSE: FE) today declared an
unchanged quarterly dividend of $0.425 per share of outstanding common stock
payable March 1, 2025, to
shareholders of record at the close of business on February 7, 2025.
FirstEnergy is dedicated to integrity, safety, reliability and
operational excellence. Its electric distribution companies form
one of the nation's largest investor-owned electric systems,
serving more than six million customers in Ohio, Pennsylvania, New
Jersey, West Virginia,
Maryland and New York. The company's transmission
subsidiaries operate approximately 24,000 miles of transmission
lines that connect the Midwest and Mid-Atlantic regions. Follow
FirstEnergy online at www.firstenergycorp.com and on
X @FirstEnergyCorp.
Forward-Looking Statements: This news release
includes forward-looking statements based on information currently
available to management. Such statements are subject to certain
risks and uncertainties and readers are cautioned not to place
undue reliance on these forward-looking statements. These
statements include declarations regarding management's intents,
beliefs and current expectations. These statements typically
contain, but are not limited to, the terms "anticipate,"
"potential," "expect," "forecast," "target," "will," "intend,"
"believe," "project," "estimate," "plan" and similar words.
Forward-looking statements involve estimates, assumptions, known
and unknown risks, uncertainties and other factors that may cause
actual results, performance or achievements to be materially
different from any future results, performance or achievements
expressed or implied by such forward-looking statements, which may
include the following: the potential liabilities, increased costs
and unanticipated developments resulting from government
investigations and agreements, including those associated with
compliance with or failure to comply with the Deferred Prosecution
Agreement entered into July 21, 2021
with the U.S. Attorney's Office for the Southern District of
Ohio; the risks and uncertainties
associated with government investigations and audits regarding Ohio
House Bill 6, as passed by Ohio's
133rd General Assembly ("HB 6") and related matters, including
potential adverse impacts on federal or state regulatory matters,
including, but not limited to, matters relating to rates; the risks
and uncertainties associated with litigation, arbitration,
mediation and similar proceedings, particularly regarding HB 6
related matters; changes in national and regional economic
conditions, including recession, volatile interest rates,
inflationary pressure, supply chain disruptions, higher fuel costs,
and workforce impacts, affecting us and/or our customers and those
vendors with which we do business; variations in weather, such as
mild seasonal weather variations and severe weather conditions
(including events caused, or exacerbated, by climate change, such
as wildfires, hurricanes, flooding, droughts, high wind events and
extreme heat events) and other natural disasters affecting future
operating results and associated regulatory actions or outcomes in
response to such conditions; legislative and regulatory
developments, including, but not limited to, matters related to
rates, energy regulatory policies, compliance and enforcement
activity, cyber security, and climate change; the risks associated
with physical attacks, such as acts of war, terrorism, sabotage or
other acts of violence, and cyber-attacks and other disruptions to
our, or our vendors', information technology system, which may
compromise our operations, and data security breaches of sensitive
data, intellectual property and proprietary or personally
identifiable information; the ability to meet our goals relating to
employee, environmental, social and corporate governance
opportunities, improvements, and efficiencies, including our
greenhouse gas ("GHG") reduction goals; the ability to accomplish
or realize anticipated benefits through establishing a culture of
continuous improvement and our other strategic and financial goals,
including, but not limited to, overcoming current uncertainties and
challenges associated with the ongoing government investigations,
executing Energize365, our transmission and distribution investment
plan, executing on our rate filing strategy, controlling costs,
improving credit metrics, maintaining investment grade ratings, and
growing earnings; changing market conditions affecting the
measurement of certain liabilities and the value of assets held in
our pension trusts may negatively impact our forecasted growth
rate, results of operations, and may also cause us to make
contributions to our pension sooner or in amounts that are larger
than currently anticipated; mitigating exposure for remedial
activities associated with retired and formerly owned electric
generation assets, including those sites impacted by the legacy
coal combustion residual rules that were finalized during 2024;
changes to environmental laws and regulations, including, but not
limited to, rules finalized by the Environmental Protection Agency
and the Securities and Exchange Commission ("SEC") related to
climate change; changes in customers' demand for power, including,
but not limited to, economic conditions, the impact of climate
change, emerging technology, particularly with respect to
electrification, energy storage and distributed sources of
generation; the ability to access the public securities and other
capital and credit markets in accordance with our financial plans,
the cost of such capital and overall condition of the capital and
credit markets affecting us, including the increasing number of
financial institutions evaluating the impact of climate change on
their investment decisions; future actions taken by credit rating
agencies that could negatively affect either our access to or terms
of financing or our financial condition and liquidity; changes in
assumptions regarding factors such as economic conditions within
our territories, the reliability of our transmission and
distribution system, generation resource planning, or the
availability of capital or other resources supporting identified
transmission and distribution investment opportunities; the
potential of non-compliance with debt covenants in our credit
facilities; the ability to comply with applicable reliability
standards and energy efficiency and peak demand reduction mandates;
human capital management challenges, including among other things,
attracting and retaining appropriately trained and qualified
employees and labor disruptions by our unionized workforce; changes
to significant accounting policies; any changes in tax laws or
regulations, including, but not limited to, the Inflation Reduction
Act of 2022, or adverse tax audit results or rulings; and the risks
and other factors discussed from time to time in our SEC filings.
Dividends declared from time to time on FirstEnergy Corp.'s common
stock during any period may in the aggregate vary from prior
periods due to circumstances considered by FirstEnergy Corp.'s
Board of Directors at the time of the actual declarations. A
security rating is not a recommendation to buy or hold securities
and is subject to revision or withdrawal at any time by the
assigning rating agency. Each rating should be evaluated
independently of any other rating. These forward-looking statements
are also qualified by, and should be read together with, the risk
factors included in FirstEnergy Corp.'s Form 10-K, Form 10-Q and in
FirstEnergy's other filings with the SEC. The foregoing review of
factors also should not be construed as exhaustive. New factors
emerge from time to time, and it is not possible for management to
predict all such factors, nor assess the impact of any such factor
on FirstEnergy Corp.'s business or the extent to which any factor,
or combination of factors, may cause results to differ materially
from those contained in any forward-looking statements. FirstEnergy
Corp. expressly disclaims any obligation to update or revise,
except as required by law, any forward-looking statements contained
herein or in the information incorporated by reference as a result
of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.