PPL Corporation (NYSE: PPL) on Wednesday (5/20) declared a quarterly common stock dividend of $0.345 per share, payable July 1, 2009, to shareowners of record as of June 10, 2009. This is the company’s 254th consecutive quarterly dividend.

PPL Electric Utilities Corporation, a PPL subsidiary, on Wednesday also declared the following quarterly dividends on its preferred stock and preference stock, payable July 1, 2009, to shareowners of record as of June 10, 2009.

Each depositary share represents a ¼ interest in a share of the preference stock. Accordingly, holders of record of the depositary shares will receive a dividend equal to ¼ of the dividend paid on the preference stock.

PPL Corporation, headquartered in Allentown, Pa., owns or controls more than 12,000 megawatts of generating capacity in the United States, sells energy in key U.S. markets and delivers electricity to about 4 million customers in Pennsylvania and the United Kingdom.