Edison International Raises Common Stock Dividend 4.08%; 16th Consecutive Annual Increase
December 12 2019 - 4:17PM
Business Wire
Southern California Edison declares
preferred stock dividends
Edison International (NYSE: EIX) today declared a quarterly
common stock dividend of $0.6375 per share, payable on Jan. 31,
2020, to shareholders of record on Dec. 31, 2019. This action
increases the annual dividend by $0.10 per share. The 2020 annual
dividend rate will be $2.55 per share, an increase of 4.08% from
the current annual dividend rate of $2.45 per share.
“The company’s top priority continues to be the safety of our
customers, communities and employees as we move forward with our
wildfire mitigation efforts through grid hardening, increased
situational awareness and enhanced operational practices,” said
Pedro Pizarro, president and CEO of Edison International. “Our
wildfire mitigation work is a critical component to hardening our
grid and ensuring reliability. We understand the importance of this
today and in the future as electrification of the economy continues
and customers rely even more on the grid.”
Pizarro added, “Because of this, Southern California Edison also
continues to make significant investments in capital programs,
including transportation electrification and grid resiliency, to
enable affordable electricity and to support California’s clean
energy goals. Our strong balance sheet provides us the flexibility
to continue to make these significant investments while growing our
dividend within our targeted payout ratio of 45% to 55% of SCE’s
earnings.”
Details on SCE Preferred Stock
Dividends
Additionally, SCE today declared the following dividends:
- A semiannual dividend of $31.25 per share on the Series E
preference stock, payable on Feb. 1, 2020, to shareholders of
record on Jan. 3, 2020.
- 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 Feb. 29, 2020, to shareholders of record on Feb. 5,
2020.
- A quarterly dividend of $0.27 per share on the 4.32% series of
cumulative preferred stock, payable on March 31, 2020, to
shareholders of record on March 5, 2020.
About Edison International
Edison International (NYSE: EIX), through its subsidiaries, is a
distributor and generator of electric power, as well as a provider
of energy services and technologies, including renewable energy.
Headquartered in Rosemead, California, Edison International is the
parent company of Southern California Edison, one of the nation’s
largest electric utilities. Edison International is also the parent
company of Edison Energy, a portfolio of competitive businesses
that provide commercial and industrial customers with energy
management and procurement services. Edison Energy is independent
from Southern California Edison.
Safe Harbor Statement
Forward-looking statements about the financial outlook for
Edison International and its subsidiaries are included in this news
release, including statements about wildfire mitigation efforts,
capital program investments and 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: https://www.businesswire.com/news/home/20191212005819/en/
Media Contact: Ron Gales, (626) 302-2255 Investor Relations: Sam
Ramraj, (626) 302-2540
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