Allegheny Energy (ATE) Announces Dividend Plan

The Board of Directors of Allegheny Energy, Inc. (NYSE: AYE) has authorized a cash dividend on the company’s common stock. The timing and the amount of such dividend is dependent on whether the pending merger with FirstEnergy Corp. (NYSE: FE) is completed on or before March 14, 2011. If the proposed merger with FirstEnergy does not become effective on or before March 14, 2011, a dividend of $0.15 per outstanding share of common stock will be payable March 28, 2011 to stockholders of record at the close of business on March 14, 2011.... Read more