FirstEnergy announced a new dividend policy that raises the targeted dividend payout ratio to 60% to 70% of operating earnings, from the previous range of 55% to 65%. While all dividend declarations are subject to board approval, the company expects to resume dividend growth for dividends payable later this year. "We recognize the importance of an attractive dividend, and we’re pleased to move forward with a new policy that reflects the steps we’ve taken to improve our credit profile, our confidence in our long-term growth prospects and our commitment to increase value for shareholders," CEO Somerhalder said.
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