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Exelon Corporation Declares Dividends and Pro Rata Dividends In Preparation for Merger with Constellation

The Board of Directors of Exelon Corporation declared a regular quarterly dividend of $0.525 per share on Exelon’s common stock.

 

CHICAGO - The Board of Directors of Exelon Corporation declared a regular quarterly dividend of $0.525 per share on Exelon's common stock.  The dividend is payable on December 9, 2011, to shareholders of record of Exelon at 5:00 p.m. New York time on November 15, 2011.

The Board of Directors also declared dividends for the following quarter that are contingent on the effective date of the pending merger with Constellation Energy Group, Inc. (Constellation). All Exelon shareholders will continue to receive the full $0.525 per share quarterly dividend, but may receive it in two separate payments depending on the effective date of the merger.

If the effective date of the merger is after February 15, 2012, the Board of Directors declared a regular quarterly dividend of $0.525 per share on Exelon's common stock, payable on March 9, 2012, to shareholders of record of Exelon at 5:00 p.m. New York time on February 15, 2012.

If the effective date of the merger is on or before February 15, shareholders will receive two separate dividend payments totaling $0.525 per share:

The first of the dividend payments will be pro-rated, with shareholders of record as of 5:00 p.m. New York time on the day before the effective date of the merger receiving $0.00571 per share per day for the period from and including November 16, 2011, the day after the record date for the previous dividend, through and including the day before the effective date of the merger. This portion of the dividend will be paid within 30 days after the effective date of the merger.

The second of the dividend payments will also be pro-rated, with all Exelon shareholders, including the former Constellation shareholders, of record at 5:00 p.m. New York time on February 15, 2012, receiving $.00571 per share per day for the period from and including the effective date of the merger through and including February 15, 2012. This portion of the dividend will be paid on March 9, 2012.

The pro-rated dividends, combined with the complementary dividends declared by Constellation on October 21, 2011, are designed to synchronize the two companies' dividends as of the effective date of the merger.

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