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SurgePays Announces Third Quarter 2024 Financial Results

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Migration of former ACP Subscribers to Lifeline Well Underway

BARTLETT, Tenn., Nov. 12, 2024 /PRNewswire/ — SurgePays, Inc. (Nasdaq: SURG) (“SurgePays” or the “Company”), a bridging critical financial and connectivity gaps in underserved communities, today announced its financial results for the third quarter ended September 30, 2024.

Management Commentary

Chairman and CEO Brian Cox commented on the quarter’s results, “We anticipated a challenging third quarter, and we seized it as an opportunity to reset, recalibrate, and accelerate. With every team member intensely focused, we’re advancing toward becoming cash flow positive as quickly as possible. We are aligning sales, integration, and strategy to generate new revenue streams across each of our business segments. This quarter wasn’t a setback but a setup, priming us for long-term, sustainable growth.

“In the third quarter of 2024, SurgePays reported $4.8 million in sales, aligning with expectations for our first full quarter without Affordable Connectivity Funding (ACP) since mid-2021. Our Mobile Virtual Network Operator (MVNO) revenue was $23,609 compared to $30.2 million in the same quarter last year, reflecting the anticipated funding shift. Meanwhile, sales in our Prepaid Platform Services segment surged 69% to $4.7 million, showcasing significant growth momentum.

“Gross profit (exclusive of depreciation and amortization) swung to a $7.8 million loss in the third quarter from a $10.5 million profit in the year-ago period due to our strategic decision to utilize our strong balance sheet to protect our previous ACP subscriber base and distribution network. With ACP funding ending, our immediate focus was on how to retain and preserve these hard-earned customers within the SurgePays ecosystem.   We chose to temporarily self-fund our MVNO operations, prioritizing customer continuity while facilitating a seamless transition to Lifeline, another government-subsidized program. By maintaining connectivity for our low-income customers, we made a socially responsible and strategic choice that positions us well for potential long-term economic returns. We expect this decision to be both customer-centered and financially astute in the long run.

“Our recent Master Services Agreement with TerraCom, Inc., a licensed Lifeline provider, represents a pivotal step. This partnership allows us to migrate up to 280,000 subscribers to Lifeline, establishing a steady alternative subsidy channel. In tandem, our sales teams are now actively engaging new customers, reigniting growth initiatives, and leveraging our SurgePays platform’s point-of-sale capabilities at convenience stores. While ACP remains uncertain, our subsidized revenue channel is robustly supported by the Lifeline program. The team and platform built for ACP is now enrolling thousands of Lifeline customers daily without distracting from our core business focus. This department has been overwhelmed and has had to hire additional employees for the sales onboarding team. Our team has now enrolled over 70,000 customers in the Lifeline program, and we believe our Lifeline subscribers potential can far outpace our highest ACP subscriber count.

“Meanwhile, our retail prepaid brand, LinkUp Mobile, has proved to be a more significant opportunity than initially anticipated, and to capture maximum market share, we moved decisively to secure a direct carrier connection. We anticipate this partnership will enable us to quickly generate hundreds of thousands of new subscribers and establish LinkUp Mobile as a formidable presence in the prepaid space.

“Our SurgePays Prepaid Top-ups platform is experiencing exponential growth as a critical element in store readiness for LinkUp Mobile activations. As a prerequisite to LinkUp activations, stores join our platform, which also facilitates prepaid reloads. This channel’s monthly revenue growth has surged nearly 400% in just five months, reaching over $2.2 million in monthly revenue — a trend we expect will continue as market demand intensifies.

“Our ClearLine Point of Sale (POS) SaaS platform is emerging as a high-potential asset within SurgePays. This advanced platform redefines the in-store customer experience by transforming POS terminals and customer-facing screens into interactive engagement tools. ClearLine’s patent-pending application supports in-store marketing campaigns, loyalty enrollment, and QR code interactions, effectively replacing traditional posters with smart TVs for dynamic QR-code advertising and instant coupon redemptions. By enhancing revenue per store and elevating customer satisfaction, ClearLine offers retailers actionable insights, driving growth and loyalty.  Following years of development, ClearLine is now ready for market deployment, and as it gains traction, we anticipate it will contribute meaningfully to consolidated revenues by Q1 2025.

“While we continue investing across our four business channels, we’re also laying a robust foundation for rapid, sustainable growth. Recently, we opened a dedicated sales and operations center in El Salvador, a project over a year in the making and a strategic move in anticipation of growth across all our verticals. Nearly 100 experienced team members, previously outsourced, are now full-time SurgePays employees, bringing continuity and expertise essential for our ambitious expansion and product launches.

This new facility marks a pivotal evolution from our longstanding outsourcing strategy, which enhances customer relationships and maximizes sales opportunities.

“At SurgePays, we’re driven by four pillars of success: team, product, distribution, and funding. With what I believe is the most seasoned team in prepaid wireless, a market-leading product suite, proprietary distribution channels, and $24 million in cash, cash equivelants, and investments as of September 30, 2024, we’re positioned to execute our growth strategy with precision. Over the next few months, we expect each of our four business segments to create a momentum that drives continuous growth and improvement, generating synergistic and scalable recurring revenue.”

Third Quarter 2024 Results Conference Call

SurgePays management will host a webcast today at 5 p.m. ET / 2 p.m. PT to discuss these results.

The live webcast of the call can be accessed on the company’s investor relations website at ir.surgepays.com, or by registering at the following link: Third Quarter Results Call .

Telephone access to the call will be available at 877-545-0320 (in the U.S.) or by dialing 973-528-0002 (outside the U.S.). Participant access code is 801757.

A telephone replay will be available approximately one hour following completion of the call until November 26, 2024. To access the replay, please dial 877-481-4010 (in the U.S.) or 919-882-2331 (outside the U.S.). Replay passcode is 51609.

Share Repurchase Authorization

During the third quarter, SurgePays’ board of directors authorized the company to repurchase up to $5 million of common stock in the open market within six months from implementation of the program.  The company repurchased $485,131 of treasury shares in the third quarter.

About SurgePays, Inc.

SurgePays, Inc. is a technology and telecom company focused on the underbanked and underserved communities. SurgePays’ technology-layered platform empowers clerks at over 8,000 convenience stores to provide a suite of prepaid wireless and financial products to underbanked customers. SurgePays prepaid wireless companies provide services to over 250,000 low-income subscribers nationwide. The company ranks as the 345th fastest-growing tech company in North America according to the 2023 Deloitte Technology Fast 500. Please visit SurgePays.com for more information.

Cautionary Note Regarding Forward-Looking Statements

This press release includes express or implied statements that are not historical facts and are considered forward-looking within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act. Forward-looking statements involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or our future financial or operating performance and may contain projections of our future results of operations or of our financial information or state other forward-looking information. In some cases, you can identify forward-looking statements by the following words: “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing,” “attempting,” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words.

Although we believe that the expectations reflected in these forward-looking statements such as regarding our market potential along with the statements under the heading Management Commentary are reasonable, these statements relate to future events or our future operational or financial performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements including but not limited to, our plans to expand our prepaid wireless company and the stock buyback program, our ability to retain our subscribers on a free monthly plan subsidized by a sister program, our ability to obtain a company that has the license to subsidize our subscribers through a sister program and our expanded service and offerings . Furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond our control, including, without limitation, whether the ACP is funded again, our ability to obtain a company that has the license to subsidize our subscribers through a sister program, statements about our future financial performance, including our revenue, cash flows, costs of revenue and operating expenses; our anticipated growth; and our predictions about our industry. The forward-looking statements contained in this release are also subject to other risks and uncertainties, including those more fully described in our filings with the Securities and Exchange Commission (“SEC”), including in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023. The forward-looking statements in this press release speak only as of the date on which the statements are made. We undertake no obligation to update, and expressly disclaim the obligation to update, any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.

SurgePays, Inc. and Subsidiaries

Consolidated Balance Sheets

September 30, 2024

December 31, 2023

(Unaudited)

Assets

Current Assets

Cash and cash equivalents

$                    13,651,559

$                  14,622,060

Investments

10,068,506

Accounts receivable – net

1,513,996

9,536,074

Inventory

8,363,138

9,046,594

Prepaids and other

312,679

161,933

Total Current Assets

33,909,878

33,366,661

Construction-in-process

518,189

Property and equipment – net

158,092

361,841

Other Assets

Note receivable

176,851

176,851

Intangibles – net

1,636,339

2,126,470

Internal use software development costs – net

372,303

539,424

Goodwill

4,166,782

1,666,782

Investment in CenterCom

498,273

464,409

Operating lease – right of use asset – net

62,786

387,869

Deferred income taxes – net

2,835,000

Total Other Assets

6,913,334

8,196,805

Total Assets

$                    41,499,493

$                  41,925,307

Liabilities and Stockholders’ Equity

Current Liabilities

Accounts payable and accrued expenses

$                      3,173,968

$                    6,439,120

Accounts payable and accrued expenses – related party

462,376

1,048,224

Accrued income taxes payable

100,000

570,000

Deferred revenue

20,000

Operating lease liability

50,415

43,137

Note payable – related party

1,647,491

4,584,563

Total Current Liabilities

5,434,250

12,705,044

Long Term Liabilities

Note payable – related party

2,303,989

Notes payable – SBA government

472,135

460,523

Operating lease liability

13,132

356,276

Total Long Term Liabilities

2,789,256

816,799

Total Liabilities

8,223,506

13,521,843

Stockholders’ Equity

Common stock, $0.001 par value, 500,000,000 shares authorized

  19,931,549 shares issued and 19,650,779 shares outstanding,
respectively, at September 30, 2024  

  14,403,261 shares issued and outstanding at December 31, 2023

19,935

14,404

Additional paid-in capital

74,725,651

43,421,019

Treasury stock – at cost (280,770 and 0 shares, respectively)

(485,131)

Accumulated deficit

(41,102,720)

(15,186,203)

Stockholders’ equity

33,157,735

28,249,220

  Non-controlling interest

118,252

154,244

Total Stockholders’ Equity

33,275,987

28,403,464

Total Liabilities and Stockholders’ Equity

$                    41,499,493

$                  41,925,307

 

SurgePays, Inc. and Subsidiaries

Consolidated Statements of Operations

(Unaudited)

For the Three Months Ended September 30,

For the Nine Months Ended September 30,

2024

2023

2024

2023

Revenues

$                     4,769,697

$                    34,160,834

$                   51,284,531

$                  104,823,710

Costs and expenses

Cost of revenues

12,602,057

23,680,247

54,377,300

76,622,912

General and administrative expenses

6,448,402

3,389,015

20,312,185

10,201,663

Total costs and expenses

19,050,459

27,069,262

74,689,485

86,824,575

Income (loss) from operations

(14,280,762)

7,091,572

(23,404,954)

17,999,135

Other income (expense)

Interest expense

(112,814)

(130,335)

(362,119)

(478,928)

Loss on lease termination – net

(194,862)

(194,862)

Other income

239

637,107

Interest income

183,537

183,537

Unrealized gains – investments

38,292

38,292

Dividends, interest and other income – investments

86,626

86,626

Gain on investment in CenterCom

51,894

33,864

95,636

Total other income (expense) – net

1,018

(78,441)

422,445

(383,292)

Net income (loss) before provision for income taxes

(14,279,744)

7,013,131

(22,982,509)

17,615,843

Provision for income tax benefit (expense)

(2,970,000)

Net income (loss) including non-controlling interest

(14,279,744)

7,013,131

(25,952,509)

17,615,843

Non-controlling interest

(4,397)

(71,170)

(35,992)

19,209

Net income (loss) available to common stockholders

$                  (14,275,347)

$                       7,084,301

$                  (25,916,517)

$                    17,596,634

Earnings per share – attributable to common stockholders

    Basic

$                             (0.73)

$                                0.50

$                             (1.37)

$                               1.24

    Diluted

$                             (0.73)

$                                0.49

$                             (1.37)

$                               1.19

Weighted average number of shares outstanding – attributable
to common stockholders

    Basic

19,689,010

14,291,263

18,940,689

14,205,127

    Diluted

19,689,010

14,507,984

18,940,689

14,740,201

 

SurgePays, Inc. and Subsidiaries

Consolidated Statements of Changes in Stockholders’ Equity

For the Three and Nine Months Ended September 30, 2024

(Unaudited)

 Additional

 Total

Common Stock

 Paid-in

 Accumulated 

Treasury Stock

Non-Controlling

 Stockholders’

Shares

 Amount

 Capital

 Deficit

Shares

 Amount

Interest

 Equity

December 31, 2023

14,403,261

$    14,404

$     43,421,019

$     (15,186,203)

$                     –

$                              –

$                154,244

$        28,403,464

Stock issued for cash

3,080,356

3,081

17,246,913

17,249,994

Cash paid as direct offering costs

(1,395,000)

(1,395,000)

Exercise of warrants – cash

1,860,308

1,861

8,797,396

8,799,257

Exercise of warrants – cashless

40,238

41

(41)

Stock issued for services

47,386

48

411,692

411,740

Recognition of stock based compensation – unvested
shares – related parties

1,497,417

1,497,417

Recognition of stock-based compensation – related party

6,196

6,196

Non-controlling interest

(12,164)

(12,164)

Net income

1,224,595

1,224,595

March 31, 2024

19,431,549

19,435

69,985,592

(13,961,608)

142,080

56,185,499

Recognition of stock based compensation – unvested
shares – related parties

2,981,577

2,981,577

Non-controlling interest

(19,431)

(19,431)

Net loss

(12,865,765)

(12,865,765)

June 30, 2024

19,431,549

19,435

72,967,169

(26,827,373)

122,649

46,281,880

Recognition of stock based compensation – unvested
shares – related parties

500,000

500

1,758,482

1,758,982

Treasury shares repurchased (share buy-backs)

280,770

(485,131)

(485,131)

Non-controlling interest

(4,397)

(4,397)

Net loss

(14,275,347)

(14,275,347)

September 30, 2024

19,931,549

$    19,935

$     74,725,651

$     (41,102,720)

280,770

$           (485,131)

$                118,252

$        33,275,987

Per TB/ISL

19,931,549

$    19,935

$     74,725,651

$     (41,102,720)

$           (485,131)

$                118,252

Difference

(0)

0

33,275,987

 

SurgePays, Inc. and Subsidiaries

Consolidated Statements of Cash Flows

(Unaudited)

For the Nine Months Ended September 30,

2024

2023

Operating activities

Net income (loss) – including non-controlling interest

$                 (25,952,509)

$                    17,615,843

Adjustments to reconcile net income (loss) to net cash provided by (used in) operations

  Depreciation and amortization

693,880

701,279

  Amortization of right-of-use assets

70,857

32,426

  Amortization of internal use software development costs

167,121

96,795

  Stock issued for services

411,740

874,284

  Recognition of stock based compensation – unvested shares – related parties

6,237,976

  Recognition of share based compensation – options – related party

6,196

27,882

  Interest expense adjustment – SBA loans

19,750

  Right-of-use asset lease payment adjustment true up

(148,584)

  Gain on equity method investment – CenterCom

(33,864)

(95,637)

  Cash paid for lease termination

(212,175)

  Loss on lease termination – net

194,862

Changes in operating assets and liabilities

  (Increase) decrease in

    Accounts receivable

8,022,078

(544,063)

    Inventory

683,456

(3,363,165)

    Prepaids and other

(150,746)

(86,355)

    Deferred income taxes – net

2,835,000

  Increase (decrease) in

    Accounts payable and accrued expenses

(5,765,152)

1,048,750

    Accounts payable and accrued expenses – related party

(86,857)

(726,163)

    Accrued income taxes payable

(470,000)

    Installment sale liability – net

(7,097,838)

    Deferred revenue

(20,000)

(125,110)

    Operating lease liability

84,257

(29,230)

Net cash provided by (used in) operating activities

(13,412,714)

8,329,698

Investing activities

Advances made for construction-in-process costs

(518,189)

Capitalized internal use software development costs

(281,304)

Purchase of investments – net

(10,068,506)

Net cash used in investing activities

(10,586,695)

(281,304)

Financing activities

Proceeds from stock issued for cash

17,249,994

Proceeds from exercise of common stock warrants

8,799,257

207,240

Cash paid as direct offering costs

(1,395,000)

Repayments of loans – related party

(1,132,074)

(1,017,385)

Repayments on notes payable

(1,531,478)

Repayments on notes payable – SBA government

(8,138)

(10,976)

Treasury shares repurchased (share buy-backs)

(485,131)

Net cash provided (used in) by financing activities

23,028,908

(2,352,599)

Net increase (decrease) in cash and cash equivalents

(970,501)

5,695,795

Cash and cash equivalents – beginning of period

14,622,060

7,035,654

Cash and cash equivalents – end of period

$                     13,651,559

$                     12,731,449

Supplemental disclosure of cash flow information

Cash paid for interest

$                          372,579

$                          209,840

Cash paid for income tax

$                                      –

$                                      –

Supplemental disclosure of non-cash investing and financing activities

Reclassification of accrued interest – related party to note payable – related party

$                          498,991

$                                      –

Exercise of warrants – cashless

$                                   41

$                                      –

Termination of ROU operating lease assets and liabilities

$                          309,826

Right-of-use asset obtained in exchange for new operating lease liability

$                            98,638

$                                      –

Goodwill (ClearLine Mobile, Inc.)

$                       2,500,000

$                                      –

 

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SOURCE SurgePays

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Reliance Digital Brings Samsung’s Latest Galaxy Z Fold8 Series and Galaxy Z Flip8 to Stores Across India

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Be among the first to own the new Samsung Galaxy Z Fold8 series and Galaxy Z Flip8. Customers can now pre-order the latest Galaxy foldables at Reliance Digital, with EMIs starting at ₹6000/month.

MUMBAI, India, July 25, 2026 /PRNewswire/ — Reliance Digital, India’s leading consumer electronics retailer, today announced the availability of Samsung’s latest generation of foldable smartphones – the Galaxy Z Fold8 Ultra, Galaxy Z Fold8 and Galaxy Z Flip8. Designed to deliver the next evolution of Galaxy AI, powerful performance and iconic foldable innovation, Samsung’s newest line-up is now available across Reliance Digital stores and online.

Built around Samsung’s vision of making AI more intuitive and personal, the new Galaxy foldables combine immersive displays, premium craftsmanship and intelligent experiences that seamlessly adapt to the way users work, create and stay connected.

Leading the line-up is the Galaxy Z Fold8 Ultra, Samsung’s most premium foldable yet. Featuring an expansive 8-inch Dynamic AMOLED 2X main display, a flagship 200MP camera, the latest Snapdragon® 8 Elite Gen 5 for Galaxy processor and a 5,000mAh battery, the device is engineered for users who demand the ultimate in productivity, creativity and entertainment. It is available in Graphite, Cream and Violet Shadow,.

The Galaxy Z Fold8 brings Samsung’s signature foldable experience in a more compact form factor, featuring a 7.6-inch Dynamic AMOLED 2X main display, a redesigned wider cover screen, Galaxy AI-powered multitasking and flagship-grade performance. Customers can choose from Lavender, Graphite and Cream colour options.

Completing the line-up is the Galaxy Z Flip8, Samsung’s most stylish foldable smartphone, designed for users who want flagship performance in a compact, pocket-friendly form. Equipped with a vibrant 6.9-inch Dynamic AMOLED 2X display, an enhanced FlexWindow, a 50MP camera system and Galaxy AI experiences, the Flip8 effortlessly blends fashion with functionality.

Customers can visit their nearest Reliance Digital store to experience the new foldables first-hand with guidance from Reliance Digital’s Tech Dosts, compare models, explore exclusive launch offers and Pre-order the Galaxy device that best fits their lifestyle. The complete Galaxy Z Fold8 series and Galaxy Z Flip8 are also available through Reliance Digital’s online platform, ensuring customers can be among the first to own Samsung’s latest foldable innovations.

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Weichai’s Five Tech Routes Global Debut: Diverse Paths to a Green, Smart Future

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HANOI, Vietnam, July 25, 2026 /PRNewswire/ — At VEC in Vietnam on July 21, the Shandong Heavy Industry global partners conference & green intelligent products expo opened. Responding to the green transition of global commercial vehicles and heavy equipment, Weichai – with decades of expertise – unveiled five core tech routes: BEV, HEV, PEMFC, alternative-fuel ICE, and ADAS. Through full-chain proprietary control and breakthroughs, it provides efficient, low-carbon, intelligent power solutions to the global market.

Battery electric vehicle powertrain: full-chain deployment and high-efficiency recharging: Weichai masters core battery, motor, and e‑control technologies. Its CT100 battery – for heavy tractors and dump trucks – features integrated design and triple insulation, delivering better reliability, efficiency, safety, and speed. The WMS3200 drive system, tailored for heavy‑truck haulage, boosts efficiency and cuts vehicle power consumption. The WMC‑L/H/B integrated controllers offer stable, efficient control for light trucks, heavy trucks, and buses.

Hybrid electric vehicle powertrain: deep integration and ultra-long range: Weichai covers series, parallel, and series-parallel architectures, deeply integrating engine and e-drive. For urban logistics, the WP2.5T range extender offers quick response and low noise; for long-haul transport, the WP3NNG natural-gas range extender uses a “pure electric for short hauls, range-extended for long hauls” mode, with over 1,000 km combined range, easing range anxiety.

Proton exchange membrane fuel cell: zero-carbon leadership: Weichai has built a full-chain hydrogen energy system covering components, stacks, and systems. The WEF300 fuel cell engine has been deployed in volume in 49-ton heavy-duty trucks, suitable for long-haul and port logistics. The WEFG500 power generation system provides megawatt-class scalable power to support data centers and industrial plants.

Alternative fuel internal combustion engine: diverse clean-energy options and exceptional cost-effectiveness: Modular design enables flexible switching between H₂ and methanol. WP15DI hydrogen ICE peaks at 46.8% thermal efficiency; WP17T methanol ICE targets heavy‑equipment energy use, cuts operating costs, and is mass‑deployed in 130‑ton mining trucks.

Intelligent driving assistance system: vehicle-road-cloud collaboration: Weichai built a vehicle‑road‑cloud full‑stack architecture, with mining autonomous solution for cm‑level docking & obstacle avoidance, and trunk‑line ADAS with intelligent cruise & auto lane‑change, boosting high‑speed safety and economy.

Going forward, Weichai will keep iterating these five tech routes with global partners to advance sustainable manufacturing.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/weichais-five-tech-routes-global-debut-diverse-paths-to-a-green-smart-future-302834548.html

SOURCE Weichai Group

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Portland General Electric declares dividend

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PORTLAND, Ore., July 24, 2026 /PRNewswire/ — The board of directors of Portland General Electric Company (NYSE: POR) declared a quarterly common stock dividend of $0.55125 per share.

The company’s dividend is evaluated based on capital requirements and financial performance. PGE targets a dividend payout ratio of 60 to 70% over the long term.

The quarterly dividend is payable on or before October 15, 2026, to shareholders of record at the close of business on September 25, 2026.

About Portland General Electric Company
Portland General Electric (NYSE: POR) is an integrated energy company that generates, transmits and distributes electricity to nearly 960,000 customers serving an area of approximately 2 million Oregonians. Since 1889, Portland General Electric (PGE) has been powering economies, delivering safe, affordable and reliable electricity while working to transform energy systems to meet evolving customer needs. PGE continues to make progress towards emissions reduction targets, and customers have set the standard for prioritizing clean energy with the No. 1 voluntary renewable energy program in the country. PGE is ranked a top ten utility in the 2025 Forrester U.S. Customer Experience Index. In 2025, PGE employees and retirees volunteered over 18,300 hours to more than 400 nonprofits organizations. Through the PGE Foundation, along with corporate contributions and the employee matching gift program, more than $5 million was directed to charitable organizations supporting economic growth and community resilience across our service area. For information: portlandgeneral.com/news.

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This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions about the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed or implied in any forward-looking statement. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise.

Forward-looking statements include statements, other than statements of historical or current fact, regarding the Company’s amount and timing of dividends payable as well as other statements containing words such as “committed to,” “targets,” or similar expressions.

There can be no assurance that future dividends will be declared. The declaration of future dividends is subject to approval of our board of directors and various risks and uncertainties, including, but not limited to: our cash flow and cash needs; the timing or amount of dividends paid; the timing or outcome of various legal and regulatory actions; changes in the Company’s business strategy; increases in capital expenditures; changes in capital and credit market conditions, including volatility of equity markets as well as changes in PGE’s credit ratings and outlook on such credit ratings restrictions on the payment of dividends under existing or future financing arrangements; changes in tax laws relating to corporate dividends; deterioration in our financial condition or results, and those risks, uncertainties, and other factors identified from time-to-time in our filings with the United States Securities and Exchange Commission (SEC), including our annual report on Form 10-K for the year ended December 31, 2025 and subsequent quarterly reports on Form 10-Q. These reports are available through the EDGAR system free-of-charge on the SEC’s website, www.sec.gov and on the Company’s website, investors.portlandgeneral.com. Investors should not rely unduly on any forward-looking statements. The Company assumes no obligation to update or revise any forward-looking statement as a result of new information, future events or other factors.

Media Contact:
Drew Hanson
Corporate Communications
Phone: 503-464-2067

Investor Contact:
Erin Schwartz
Investor Relations
Phone: 503-464-7751

View original content:https://www.prnewswire.com/news-releases/portland-general-electric-declares-dividend-302834503.html

SOURCE Portland General Company

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