Edison International Raises Common Stock Dividend 13 Percent; Thirteenth Consecutive Annual Increase
December 08 2016 - 6:41PM
Business Wire
Southern California Edison declares preferred
stock dividends
Edison International (NYSE: EIX) today declared a quarterly
common stock dividend of $0.5425 per share, payable on January 31,
2017, to shareholders of record on December 30, 2016. This action
increases the annual dividend by $0.25 per share for the third year
in a row. The 2017 annual dividend rate will be $2.17 per share, an
increase of 13 percent from the current annual dividend rate of
$1.92 per share.
“We are pleased to increase our dividend for the 13th
consecutive year, one of only four companies in the Philadelphia
Utility Index with at least a decade of annual dividend growth,”
said Pedro Pizarro, president and CEO of Edison International. “We
still have additional opportunity to move higher in the range of
our targeted payout ratio of 45 to 55 percent of the earnings of
Southern California Edison. Dividend growth remains an important
element of Edison International’s value proposition for investors
as we target dividend growth in steps and over time, at a faster
pace than SCE’s earnings growth.”
Details on SCE Preferred Stock
Dividends
Additionally, Southern California Edison today declared the
following dividends:
- A semiannual dividend of $31.25 per
share on the Series E preference stock, payable on February 1,
2017, to shareholders of record on January 5, 2017.
- Quarterly dividends of $0.255 per share
on the 4.08% series of cumulative preferred stock, $0.265 per share
on the 4.24% series of cumulative preferred stock and $0.29875 per
share on the 4.78% series of cumulative preferred stock. Each of
these dividends is payable on February 28, 2017, to shareholders of
record on February 3, 2017.
- A quarterly dividend of $0.27 per share
on the 4.32% series of cumulative preferred stock, payable on March
31, 2017, to shareholders of record on March 3, 2017.
About Edison International
Edison International (NYSE:EIX), through its subsidiaries, is a
generator and distributor of electric power and an investor in
energy services and technologies, including renewable energy.
Headquartered in Rosemead, Calif., Edison International is the
parent company of Southern California Edison, one of the nation’s
largest electric utilities.
Risk Disclosure Statement
Forward-looking statements about the financial outlook for
Edison International and its subsidiaries are included in this news
release, including potential growth in future earnings and
dividends. These forward-looking statements reflect our current
expectations; however, such statements involve risks and
uncertainties. Actual results could differ materially from current
expectations. Important factors that could cause different results
are discussed under the headings “Risk Factors” and “Management’s
Discussion and Analysis of Financial Condition and Results of
Operations” in Edison International’s Form 10-K, most recent Form
10-Q, and other reports and presentations filed with the Securities
and Exchange Commission which are available at:
www.edisoninvestor.com. These forward-looking statements represent
our expectations only as of the date of this news release, and
Edison International assumes no duty to update them to reflect new
information, events or circumstances.
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version on businesswire.com: http://www.businesswire.com/news/home/20161208006336/en/
Edison InternationalMedia Contact: Charles Coleman, (626)
302-7982Investor Relations: Scott Cunningham, (626)
302-2540
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