PPL Corp completes $400 million share settlement under forward agreements

PPL Corp announced the completion of a physical settlement of forward sale agreements, resulting in the delivery of approximately 11.3 million shares of its common stock and net proceeds of around $400 million. These transactions are linked to agreements initially disclosed in February 2025, involving multiple financial institutions like Barclays Capital and Goldman Sachs. PPL Corp had previously entered into agreements covering 38.7 million shares with a total value of $1.4 billion, to be settled through August 11, 2027. Approximately 27.4 million shares remain outstanding under two agreements, valued at $500 million each, due on or before December 30, 2026, and August 11, 2027.

In related news, PPL Corporation reported strong third-quarter 2025 financial results, exceeding analyst expectations with earnings per share of $0.48 and revenue of $2.24 billion. The company also declared a quarterly dividend of $0.2725 per share, payable on January 2, 2026.

Additionally, PPL Capital Funding plans to offer $1 billion in exchangeable senior notes due 2030. Analysts at UBS raised their price target to $37, while Jefferies lowered theirs to $40, reflecting differing views on the company’s financial outlook.

(Source：Investing Canada)