PPL Corporation (NYSE: PPL) on Wednesday (5/21) declared a quarterly common stock dividend of $0.335 per share, payable July 1, 2008, to shareowners of record as of June 10, 2008. This is the company’s 250th consecutive quarterly dividend.

PPL most recently increased the annualized dividend rate on its common stock from $1.22 to $1.34 per share, effective with the April 1, 2008, dividend payment.

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, 2008, to shareowners of record as of June 10, 2008.

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., controls more than 11,000 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.