Duke Energy Corp. on Feb. 20 signed an equity distribution agreement for the potential sale of up to $1 billion of its common stock from time to time.

Wells Fargo Securities LLC, Citigroup Global Markets Inc. and J.P. Morgan Securities LLC will serve as sales agents under the agreement. Duke Energy will use the proceeds for general corporate purposes.

Duke Energy may also enter into one or more separate forward sale agreements with Wells Fargo Bank NA, Citibank NA and JPMorgan Chase Bank NA. Initially, the company will not receive proceeds from the forward sale agreements. The company expects to receive proceeds from the sale of its shares upon future physical settlement of the relevant forward sale agreement with the relevant forward purchaser.

If Duke elects to cash settle or net share settle a forward sale agreement, the company may not or will not receive any proceeds and may owe cash or shares of its common stock to the relevant forward purchaser.