Exelon Corporation Declares Dividend and Pro Rata Dividend in Preparation for Merger with PSEG.CHICAGO -- The board of directors of Exelon Corporation declared a regular quarterly dividend of $0.40 per share on Exelon's common stock. The dividend is payable on December 11, 2006, to shareholders of record of Exelon at 5:00 p.m. New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Time on November 15, 2006. In preparation for the potential closing of the merger of Exelon with Public Service Enterprise Group Incorporated (PSEG PSEG Public Service Enterprise Group ), the board of Exelon declared an alternate pro rata [Latin, Proportionately.] A phrase that describes a division made according to a certain rate, percentage, or share. In a Bankruptcy case, when the debtor is insolvent, creditors generally agree to accept a pro rata share of what is owed to them. dividend of $0.00435 per share per day for the fourth quarter of 2006 prior to the closing of Exelon's pending merger with PSEG. This pro rata dividend is equivalent to $0.40 per share for the full quarter. The dividend will accrue from August 15, 2006, the record date for the previous quarterly dividend, until the day before the closing of the merger should the merger close on or before November 15, 2006, and will be paid within thirty days after the closing of the merger. As previously announced, the board has changed its current policy for dividend record and payment dates effective upon the closing of the merger. Currently, dividend record dates are the fifteenth day of the second month of the quarter and payment dates are the tenth day of the third month of the quarter. After the closing of the merger, when the dividend is increased as required by the merger agreement with PSEG, the record date will be the eighth day of the third month of a quarter and the payment date will be the last business day of the third month of a quarter. Exelon Corporation is one of the nation's largest electric utilities with approximately 5.2 million customers and more than $15 billion in annual revenues. The company has one of the industry's largest portfolios of electricity generation capacity, with a nationwide reach and strong positions in the Midwest and Mid-Atlantic. Exelon distributes electricity to approximately 5.2 million customers in northern Illinois For the university, see Northern Illinois University Northern Illinois is a region generally covering the northern third of the U.S. state of Illinois. Economics and Pennsylvania and natural gas to more than 470,000 customers in southeastern Pennsylvania. Exelon is headquartered in Chicago and trades on the NYSE NYSE See: New York Stock Exchange under the ticker ticker An automated quotation system on which security transactions are reported after they occur on an exchange floor. Even though the newer systems are electronic and no longer actually tick, the name of the old mechanical device has stuck. EXC EXC Exception EXC Excellent Condition EXC Excellency EXC Enduro Cross Country (motorcycle racing/riding style) EXC Electronic Cross Connect (Nortel) EXC Exchange Component EXC Exclusion Dictionary . |
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