PPL Corp. announced 2020 reported earnings on Feb. 18 of $1.47 billion, or $1.91 per share, compared with $1.75 billion, or $2.37 per share, in 2019.

Adjusting for special items, 2020 earnings from ongoing operations were $1.85 billion, or $2.40 per share, compared with 2019 ongoing earnings of $1.81 billion, or $2.45 per share.

In achieving earnings from ongoing operations at the low end of the company’s original 2020 earnings guidance of $2.40 to $2.60 per share, PPL overcame a 12 cents per share unfavorable impact from COVID-19 due to lower sales volumes in the U.K. and lower commercial and industrial demand in Kentucky, as well as a 5 cent unfavorable impact due to milder than normal weather.

Looking forward, Sorgi said the company’s long-term strategy is to achieve industry-leading performance in safety, reliability, customer satisfaction and operational efficiency; to advance a clean energy transition while maintaining affordability and reliability; to maintain a strong financial foundation and create long-term value for our shareowners; to foster a diverse and exceptional workplace; and to build strong communities.

In 2021, that includes completing the sale of PPL’s U.K. utility business, a move PPL believes will simplify its business mix, unlock share owner value, strengthen its balance sheet, enhance long-term earnings growth and provide the company greater financial flexibility.

PPL reported fourth-quarter 2020 earnings of $290 million, or 38 cents per share, compared with reported earnings of $364 million, or 48 cents per share, in 2019. Adjusting for special items, fourth-quarter 2020 earnings from ongoing operations were $456 million, or 59 cents per share, compared with $431 million, or 57 cents per share, in 2019.

The company also maintained its commitment to dividends as a key component of total shareowner return, announcing a quarterly common stock dividend of 41 cents per share, payable April 1, 2021, to shareowners of record as of March 10. The dividend will mark the company’s 301st consecutive quarterly dividend paid since 1946.