Common Shareholders' Equity (DP&L [Member])

9 Months Ended

Sep. 30, 2013

DP&L [Member]

Common Shareholders' Equity

10.  Shareholder’s Equity 

DP&L has 250,000,000 authorized $0.01 par value common shares, of which 41,172,173 are outstanding at September 30, 2013.  All common shares are held by DP&L’s parent, DPL. 

On August 5, 2013, the Board of Directors of DP&L declared a dividend to the common stockholder of record as of the close of business on August 6, 2013 of up to $75.0 million during the third quarter of 2013;$25.0 million was paid by September 30, 2013, the remainder will not be paid.

On November 5, 2013, the Board of Directors of DP&L declared a dividend to the common stockholder of record as of the close of business on November 6, 2013 of up to $75.0 million payable during the fourth quarter of 2013.

As part of the PUCO’s approval of the Merger, DP&L agreed to maintain a capital structure that includes an equity ratio of at least 50 percent and not to have a negative retained earnings balance.