UPDATE 1-PPL boosts 2011 earnings view as E.ON deal closes

* Sees 2011 EPS $2.50-$2.75 vs prior view $2.40-$2.60

* Plans to maintain annual dividend at $1.40

* Shares edge up premarket

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April 1 (Reuters) – Power company PPL Corp raised
its earnings forecast for the year to account for the closing of
its recent acquisition of German utility E.ON AG’s (EONGn.DE: Quote, Profile, Research) UK
power networks.

PPL expects earnings of $2.50-$2.75 a share, compared with
prior forecast of $2.40-$ 2.60 a share.

Analysts on average were expecting $2.61 a share, according
to Thomson Reuters I/B/E/S.

Allentown, Pennsylvania-based PPL’s Chief Executive James
Miller said he plans to maintain the annual dividend at $1.40.

PPL announced the deal to buy E.ON’s UK power networks for
3.5 billion pounds ($5.6 billion) in cash to create one of the
largest electricity distributors in Britain. [ID:nN01119969]

PPL shares were up 20 cents before the bell on Friday. They
closed at $25.30 on Thursday on the New York Stock Exchange.
(Reporting by Krishna N Das; Editing by Don Sebastian)

UPDATE 1-PPL boosts 2011 earnings view as E.ON deal closes