AES and DPL promised the pro-rated dividend as part of the merger’s terms. That dividend amounts to .00361413 cents per common share, the daily equivalent of the quarterly dividend rate of 33.25 cents, the companies said. It is payable to those who owned DPL common stock last Sunday (Nov. 27), the day before the merger closed.
Under the merger, AES promised to pay $30 in cash for each outstanding common share of DPL stock, which will end the payout of dividends for that stock. DPL and its Dayton Power and Light Co. are now wholly owned subsidiaries of AES, a Fortune 200 electricity generating and distribution company based in Arlington, Va.
DP&L, the operating utility, said it will continue to pay dividends for the preferred shares of its stock, which were not purchased by AES.