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PG&E suspends dividends over attainable wildfire prices

PG&E Corp., the mum or dad firm of Pacific Fuel and Electrical Co., warned traders Wednesday that it’ll cease issuing dividends as a result of risk that the utility may very well be held responsible for October’s lethal Wine Nation wildfires, which brought about greater than $9 billion in harm.

PG&E Corp. will droop dividends on its frequent inventory starting with the fourth quarter of 2017. The corporate, whose most up-to-date quarterly dividend was 53 cents per share, didn’t point out when dividend funds would possibly resume.

Though the California Division of Forestry and Fireplace Safety, often known as Cal Fireplace, has not decided a trigger for any of the North Bay fires, quite a few householders have sued Pacific Fuel and Electrical Co.

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