What is interesting at PPL is that its 5.2% dividend yield puts it above the average dividend yield and the $27.66 closing price on Monday compares to a 52-week trading range of $25.00 to $30.27.
Morgan Stanley and BofA Merrill Lynch are acting as joint book-running managers for the offering. The underwriters will be granted an option to purchase up to an additional 1,485,000 shares of common stock as a greenshoe option to cover any over-allotments.
Considering the size differential of the company’s market capitalization rate versus the small size of the offering, we would not look for much impact in the shares.
JON C. OGG
Contact [email protected] for any questions or corrections.
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