March 1, 2010 (FinancialWire) — PPL Corp. (NYSE: PPL) has approved an increase to its common stock dividend, from $0.345 to $0.35 per share, or from $1.38 to $1.40 per share on an annualized basis. The increased dividend is payable April 1, 2010, to shareowners of record as of March 10, 2010.

This is the company’s 257th consecutive quarterly dividend, and based on the company’s closing stock price Thursday of $28.83 per share, this increase will bring the current dividend yield on PPL common stock to 4.9 percent.

PPL said the increase will also bring the 2010 payout ratio to 42 percent based on the $3.30 per share midpoint of the company’s 2010 earnings forecast of $3.10 to $3.50 per share. PPL has reiterated its earnings guidance for 2010 on its quarterly earnings conference call on February 5.

Pennsylvania-based PPL owns or controls nearly 12,000 megawatts of generating capacity in the United States, sells energy in various U.S. markets and delivers electricity to about four million customers in Pennsylvania and the United Kingdom.

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