ARLINGTON, Va.--(BUSINESS WIRE)-- The Board of Directors of The AES Corporation (NYSE:AES) approved a 100% increase in the Company’s quarterly common stock dividend, to $0.10 per share from $0.05 per share. The Board of Directors will continue to review the dividend on an annual basis. The Company expects the dividend to grow at an approximate 10% annual rate, consistent with Parent Free Cash Flow growth of 10% to 15% per year on average through 2018. The Board of Directors declared a quarterly common stock dividend of $0.10 per share payable on February 17, 2015, to shareholders of record at the close of business on February 3, 2015.

“I am pleased to announce that our Board of Directors has approved doubling our dividend, beginning in the first quarter of 2015,” said Andrés Gluski, AES President and Chief Executive Officer. “This decision reflects our strong and growing free cash flow, which is being driven by our $9 billion construction program underway. Through 2018, we will commission more than 7 GW of new or upgraded capacity, with most of our equity commitments already funded.”

“In order to maximize shareholder return, we are allocating significantly more of our cash towards our dividend,” said Tom O’Flynn, AES Executive Vice President and Chief Financial Officer. “This dividend increase demonstrates management’s confidence in the strength of our cash flow, which supports both a meaningful and growing dividend, and our business growth initiatives."

The Company posted its latest investor presentation, with additional information related to today’s announcement, to its website at www.aes.com.

About AES

The AES Corporation (NYSE:AES) is a Fortune 200 global power company. We provide affordable, sustainable energy to 20 countries through our diverse portfolio of distribution businesses as well as thermal and renewable generation facilities. Our workforce of 17,800 people is committed to operational excellence and meeting the world’s changing power needs. Our 2013 revenues were $16 billion and we own and manage $40 billion in total assets. To learn more, please visit www.aes.com. Follow AES on Twitter @TheAESCorp.

Safe Harbor Disclosure

This news release contains forward-looking statements within the meaning of the Securities Act of 1933 and of the Securities Exchange Act of 1934. Such forward-looking statements include, but are not limited to, those related to future earnings, growth and financial and operating performance. Forward-looking statements are not intended to be a guarantee of future results, but instead constitute AES’ current expectations based on reasonable assumptions. Forecasted financial information is based on certain material assumptions. These assumptions include, but are not limited to, our accurate projections of future interest rates, commodity price and foreign currency pricing, continued normal levels of operating performance and electricity volume at our distribution companies and operational performance at our generation businesses consistent with historical levels, as well as achievements of planned productivity improvements and incremental growth investments at normalized investment levels and rates of return consistent with prior experience.

Actual results could differ materially from those projected in our forward-looking statements due to risks, uncertainties and other factors. Important factors that could affect actual results are discussed in AES’ filings with the Securities and Exchange Commission (the “SEC”), including, but not limited to, the risks discussed under Item 1A “Risk Factors” and Item 7: Management’s Discussion & Analysis in AES’ 2013 Annual Report on Form 10-K and in subsequent reports filed with the SEC. Readers are encouraged to read AES’ filings to learn more about the risk factors associated with AES’ business. AES undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Any Stockholder who desires a copy of the Company’s 2013 Annual Report on Form 10-K dated on or about February 25, 2014 with the SEC may obtain a copy (excluding Exhibits) without charge by addressing a request to the Office of the Corporate Secretary, The AES Corporation, 4300 Wilson Boulevard, Arlington, Virginia 22203. Exhibits also may be requested, but a charge equal to the reproduction cost thereof will be made. A copy of the Form 10-K may be obtained by visiting the Company’s website at www.aes.com.

Source: The AES Corporation