PEPCO Shareholders Get Dividend as Ratepayers Fume in the Cold, Dark

"The day after the Jan. 26 snowstorm swept through the Washington region, knocking out power for 220,000 Pepco customers, the utility's parent company, Pepco Holdings, announced a $60 million dividend payment to its shareholders.

As Pepco customers in the District and Maryland have contended with inaccurate outage maps, rising electricity bills, and long hours and days of waiting for their lights to come back on, Pepco Holdings investors have prospered. In the past year, they have reaped the benefits of surging revenue, a 12 percent increase in the stock price and a steady stream of dividends. Last year, Pepco Holdings paid more than $240 million in dividends."

Annys Shin reports for the Washington Post February 13, 2011.

Tuesday, February 15, 2011