PPL Announces Expensing of Future Stock Options
PPL Corp. (Allentown, PA) announced that, beginning January 1, 2003, it will expense the value of any new stock options granted to PPL employees. The decision does not change the company's 2003 earnings forecast of between $3.60 and $3.80 per share in earnings from core operations.
PPL also reaffirmed its 2002 forecast of $3.30 to $3.50 per share from core operations. Over the longer term, PPL also is reaffirming its forecast of five to eight percent compound annual growth in core earnings per share, using the midpoint of its existing 2002 forecast of earnings from core operations as the starting point.