FirstEnergy Corp. closed its merger with Allegheny Energy Inc. Feb. 25. This follows the company's accepting conditions included by the Pennsylvania Public Utility Commission, which approved the merger Feb. 24.
The company plans to reintroduce the utility operating names – Mon Power, Potomac Edison and West Penn Power – to Allegheny Power customers.
Under a dividend synchronization plan announced in December, FirstEnergy shareholders of record as of Feb. 7, 2011, will receive a pro rata dividend of $0.5255 per share, payable March 1. FirstEnergy shareholders of record as of the close of business Feb. 25 will receive a pro rata dividend of $0.0245 per share, payable March 7. Allegheny Energy shareholders as of the close of business on Feb. 24 will receive a prorated final dividend of $0.12045 per share, payable March 11.
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