BALTIMORE - Exelon Corporation (NASDAQ:EXC)'s Board of Directors has announced a quarterly dividend of $0.38 per share on the company's common stock. The dividend is scheduled to be paid on June 14, 2024, to shareholders who are on record by the end of business on May 13, 2024.
Exelon, listed on the Nasdaq with the ticker EXC, is recognized as the nation's largest utility company, operating through six fully regulated transmission and distribution utilities. These include Atlantic City Electric, Baltimore Gas and Electric, Commonwealth Edison, Delmarva Power & Light, PECO Energy Company, and Potomac Electric Power Company. The company is known for serving approximately 10.6 million customers across its platforms.
The corporation, which ranks within the Fortune 250, employs nearly 20,000 individuals. These employees are involved in various initiatives aimed at providing reliable and efficient energy, as well as contributing to workforce development, equity, and economic development. Exelon's commitment extends to community support through volunteerism.
This announcement of the dividend payment is a routine part of Exelon's financial calendar and reflects the company's ongoing activities in the energy sector. Dividends are a way for Exelon to distribute a portion of its earnings back to its shareholders and are typically issued on a quarterly basis.
The information regarding the dividend is based on a press release statement from Exelon Corporation.
InvestingPro Insights
Exelon Corporation (NASDAQ: EXC) has been a steady presence in the energy sector, and its recent announcement of a quarterly dividend is a testament to its financial consistency.
With a dividend yield standing at 4.03% as of the last dividend ex-date on March 1, 2024, the company continues to appeal to investors seeking regular income streams. This yield is particularly noteworthy given the current market conditions.
An InvestingPro Tip points out that Exelon has upheld its dividend payments for an impressive 54 consecutive years, highlighting the company's commitment to its shareholders. Moreover, the stability of Exelon is further underscored by its low price volatility, making it a potential candidate for investors who prioritize lower-risk investments.
From a financial standpoint, Exelon's market capitalization is recorded at $37.57 billion, reflecting its significant presence within the industry. Additionally, the company's gross profit margin over the last twelve months, as of Q4 2023, stands at a healthy 41.22%. These figures suggest a robust financial structure that supports its dividend payments and operational strategies.
While Exelon operates with a significant debt burden, as noted in another InvestingPro Tip, investors should also consider that analysts have predicted the company will remain profitable this year. This profitability, along with the company's long history of dividend payments, may provide a degree of confidence for investors looking at the long-term potential of their investments in Exelon.
For those interested in deeper insights and additional InvestingPro Tips, including analyst revisions and P/E ratio considerations, visit InvestingPro's full analysis at https://www.investing.com/pro/EXC. There are a total of 8 tips available, offering a more comprehensive look at Exelon's financial health and market position. Remember to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, enriching your investment strategy with real-time data and expert analytics.
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