“The fundamentals of our business are stronger than ever, giving us confidence in our ability to deliver sustainable value and 5% to 7% growth through 2028.”

In context

“rowth story. And our commitment to the dividend remains unchanged. We understand its importance to our shareholders and 2024 marks the 98th consecutive year of paying a quarterly cash dividend. We intend to keep growing our dividend, balancing the payout ratio with the need to fund our capital plan. Over the next five years, we anticipate a steady decline in the payout ratio and we are adjusting our target payout ratio to 60% to 70% from 65% to 75%. This updated range provides additional financial flexibility, minimizes external equity needs over time and is more consistent with the company investing in our current pace. As always, dividends will be subject to approval by the Board of Directors. In closing, 2023 was a year of execution and we have tremendous momentum as we head into 2024. The fundamentals of our business are stronger than ever, giving us confidence in our ability to deliver sustainable value and 5% to 7% growth through 2028. With that, we'll open the line for your questions. Operator: [Operator Instructions] Our first question today comes from Shar Pourreza of Guggenheim Partners. Your line is open. Please go ahead. Shar Pourreza: Hey guys. Good morning. Lynn Good: Good morning, Shar. Shar Pourreza: Good morning. Just on the CapEx expectations, the $8 billion increase reflects, obviously an early estimate of the Carolina IRP filing at the end of March. Can you just maybe elaborate on, what you mean by early? So what scenario is embedded? Is there room for upside? And then to what extent does the plan include IRPs you'll be filing this year in Indiana and Kentucky? Thanks. Lynn Good: Shar, thank you. An early estimate would say, we've begun to contemplate what the January IRP includes and I think, you've seen”