PPL Wins Supreme Court Ruling (PPL)
February 22, 2012 by Paul AusickPennsylvania-based PPL Corp. (NYSE: PPL) today won a unanimous verdict from the US Supreme Court, overturning a Montana Supreme Court ruling that PPL must pay rent to the state for the riverbeds underneath its electricity-producing dams along the Missouri, Madison, and Clark Fork rivers. The US Supreme Court said that Montana’s ruling was based on a flawed interpretation of the meaning of a navigable river.
PPL accrued a pre-tax charge of $56 million in 2010 to cover rental charges through the first quarter of that year. The company said its total accrued loss in the case is $84 million.
PPL’s shares are up about 1.5% at $28.70 in a 52-week range of $24.10-$30.27.
Sponsored: Attention Savvy Investors: Speak to 3 Financial Experts – FREE
Ever wanted an extra set of eyes on an investment you’re considering? Now you can speak with up to 3 financial experts in your area for FREE. By simply
clicking here you can begin to match with financial professionals who can help guide you through the financial decisions you’re making. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.