What changed 10-K

Item 5. Market for Registrant’s Common Equity

2026-02-20 compared with 2025-02-20 · 1 added, 1 removed, 31 unchanged (6% of the section changed)

2 unchanged sentences

As of February 13, 2026, the Company's common stock was held by approximately 8,200 stockholders of record.

Based on the Company becoming a pure-play regulated energy delivery business, the Company's board of directors established a long-term dividend payout ratio target of 60 percent to 70 percent of regulated energy delivery earnings.

As a pure-play regulated energy delivery business, the Company's board of directors established a long-term dividend payout ratio target of 60 percent to 70 percent of regulated energy delivery earnings.

The Company has an 88-year history of uninterrupted dividend payments to stockholders and remains committed to paying a competitive dividend.

27 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.