Edison International Raises Common Stock Dividend 3.92%; 17th Consecutive Annual Increase
December 10 2020 - 07:06PM
Business Wire
Southern California Edison declares
preference stock dividends
Edison International (NYSE: EIX) today declared a quarterly
common stock dividend of $0.6625 per share, payable on Jan. 31,
2021, to shareholders of record on Dec. 31, 2020. This action
increases the annual dividend by $0.10 per share. The 2021 annual
dividend rate will be $2.65 per share, an increase of 3.92% from
the current annual dividend rate of $2.55 per share.
“We are pleased to raise the EIX dividend for the seventeenth
consecutive year. At the same time, Southern California Edison
continues to make substantial capital investments to ensure we have
a strong, safe, reliable, and resilient power grid,” said Pedro
Pizarro, president and CEO of Edison International. “This dividend
growth keeps us within our targeted payout ratio range of 45 to 55%
of SCE's core earnings and reflects our confidence in maintaining a
strong balance sheet that supports financial flexibility.”
Pizarro added, “Our vision for how California's economy and our
company can combat climate change calls for the transformation of
our industry through clean energy and economy-wide electrification.
SCE continues to make significant investments in the infrastructure
necessary to execute our strategy, which is consistent with the
state's climate change policies and objectives.”
Additionally, SCE today declared the following dividend:
- A semiannual dividend of $31.25 per share on the Series E
preference stock, payable on Feb. 1, 2021, to shareholders of
record on Jan. 5, 2021.
About Edison International
Edison International (NYSE: EIX) is one of the nation’s largest
electric utility holding companies, providing clean and reliable
energy and energy services through its independent companies.
Headquartered in Rosemead, California, Edison International is the
parent company of Southern California Edison Company, a utility
that delivers electricity to 15 million people across Southern,
Central and Coastal California. Edison International is also the
parent company of Edison Energy, a global energy advisory company
delivering comprehensive, data-driven energy solutions to
commercial and industrial users to meet their cost, sustainability
and risk goals.
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