SAN DIEGO, Aug. 31, 2020 /PRNewswire/ -- Sempra
Energy (NYSE: SRE) today announced that its board of directors
has declared a $1.045 per
share quarterly dividend on the company's common stock, which
is payable Oct. 15, 2020, to common stock shareholders of
record at the close of business on Sept. 25, 2020.
Sempra Energy's board of directors declared a quarterly dividend
of $1.50 per share on Sempra Energy's 6% Mandatory
Convertible Preferred Stock, Series A. Sempra Energy's board of
directors also declared a quarterly dividend
of $1.6875 per share on the company's 6.75% Mandatory
Convertible Preferred Stock, Series B. Additionally, the board of
directors declared a dividend of $15.7083 per share on Sempra Energy's 4.875%
Fixed-Rate Reset Cumulative Redeemable Perpetual Preferred Stock,
Series C. All of the preferred stock dividends will be payable
Oct. 15, 2020, to preferred stock
shareholders of record at the close of business on Oct. 1, 2020.
About Sempra Energy
Sempra Energy's mission is to be North
America's premier energy infrastructure company. With more
than $60 billion in total assets in
2019, the San Diego-based company
is the utility holding company with the largest U.S. customer base.
The Sempra Energy companies' more than 18,000 employees deliver
energy with purpose to over 35 million consumers. The company is
focused on the most attractive markets in North America, including California, Texas, Mexico
and the LNG export market. Sempra Energy has been consistently
recognized for its leadership in sustainability, and diversity and
inclusion, and is a member of the S&P 500 Utilities Index and
the Dow Jones Utility Index. The company was also named one of the
"World's Most Admired Companies" for 2020 by Fortune Magazine.
This press release contains statements that are not
historical fact and constitute forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Forward-looking statements are based on assumptions with
respect to the future, involve risks and uncertainties, and are not
guarantees of performance. Future results may differ materially
from those expressed in the forward-looking statements. These
forward-looking statements represent our estimates and assumptions
only as of the date of this press release. We assume no obligation
to update or revise any forward-looking statement as a result of
new information, future events or other factors.
In this press release, forward-looking statements can be
identified by words such as "believes," "expects," "anticipates,"
"plans," "estimates," "projects," "forecasts," "should," "could,"
"would," "will," "confident," "may," "can," "potential,"
"possible," "proposed," "target," "pursue," "outlook," "maintain,"
or similar expressions, or when we discuss our guidance, strategy,
goals, vision, mission, opportunities, projections or
intentions.
Factors, among others, that could cause our actual results
and future actions to differ materially from those described in any
forward-looking statements include risks and uncertainties relating
to: California wildfires and the
risk that we may be found liable for damages regardless of fault
and the risk that we may not be able to recover any such costs from
insurance, the wildfire fund established by California Assembly
Bill 1054 or in rates from customers; decisions, investigations,
regulations, issuances of permits and other authorizations, renewal
of franchises, and other actions by (i) the Comisión Federal de
Electricidad, California Public Utilities Commission (CPUC), U.S.
Department of Energy, Public Utility Commission of Texas, and other regulatory and governmental
bodies and (ii) states, cities, counties and other jurisdictions in
the U.S., Mexico and other
countries in which we operate or do business; the success of
business development efforts, construction projects and major
acquisitions and divestitures, including risks in (i) the ability
to make a final investment decision and completing construction
projects on schedule and budget, (ii) obtaining the consent of
partners, (iii) counterparties' financial or other ability to
fulfill contractual commitments, (iv) the ability to complete
contemplated acquisitions, and (v) the ability to realize
anticipated benefits from any of these efforts once completed; the
impact of the COVID-19 pandemic on our (i) ability to commence and
complete capital and other projects and obtain regulatory
approvals, (ii) supply chain and current and prospective
counterparties, contractors, customers, employees and partners,
(iii) liquidity, resulting from bill payment challenges experienced
by our customers, including in connection with a CPUC-ordered
suspension of service disconnections, decreased stability and
accessibility of the capital markets and other factors, and (iv)
ability to sustain operations and satisfy compliance requirements
due to social distancing measures or if employee absenteeism were
to increase significantly; the resolution of civil and criminal
litigation, regulatory inquiries, investigations and proceedings,
and arbitrations; actions by credit rating agencies to downgrade
our credit ratings or to place those ratings on negative outlook
and our ability to borrow at favorable interest rates; moves to
reduce or eliminate reliance on natural gas and the impact of the
extreme volatility and unprecedented decline of oil prices on our
businesses and development projects; weather, natural disasters,
accidents, equipment failures, computer system outages and other
events that disrupt our operations, damage our facilities and
systems, cause the release of harmful materials, cause fires and
subject us to liability for property damage or personal injuries,
fines and penalties, some of which may not be covered by insurance
(including costs in excess of applicable policy limits), may be
disputed by insurers or may otherwise not be recoverable through
regulatory mechanisms or may impact our ability to obtain
satisfactory levels of affordable insurance; the availability of
electric power and natural gas and natural gas storage capacity,
including disruptions caused by failures in the transmission grid,
limitations on the withdrawal or injection of natural gas from or
into storage facilities, and equipment failures; cybersecurity
threats to the energy grid, storage and pipeline infrastructure,
the information and systems used to operate our businesses, and the
confidentiality of our proprietary information and the personal
information of our customers and employees; expropriation of
assets, the failure of foreign governments and state-owned entities
to honor the terms of contracts, and property disputes; the impact
at San Diego Gas & Electric Company (SDG&E) on competitive
customer rates and reliability due to the growth in distributed and
local power generation, including from departing retail load
resulting from customers transferring to Direct Access, Community
Choice Aggregation or other forms of distributed or local power
generation, and the risk of nonrecovery for stranded assets and
contractual obligations; Oncor Electric Delivery Company LLC's
(Oncor) ability to eliminate or reduce its quarterly dividends due
to regulatory and governance requirements and commitments,
including by actions of Oncor's independent directors or a minority
member director; volatility in foreign currency exchange, interest
and inflation rates and commodity prices and our ability to
effectively hedge the risk of such volatility; changes in trade
policies, laws and regulations, including tariffs and revisions to
or replacement of international trade agreements, such as the newly
effective United
States-Mexico-Canada Agreement, that may increase our costs
or impair our ability to resolve trade disputes; the impact of
changes to U.S. federal and state and foreign tax laws and our
ability to mitigate adverse impacts; and other uncertainties, some
of which may be difficult to predict and are beyond our
control.
These risks and uncertainties are further discussed in the
reports that Sempra Energy has filed with the U.S. Securities and
Exchange Commission (SEC). These reports are available through the
EDGAR system free-of-charge on the SEC's website, www.sec.gov, and
on the company's website, www.sempra.com. Investors should not rely
unduly on any forward-looking statements.
Sempra North American Infrastructure, Sempra LNG, Sempra
Mexico, Sempra Texas Utilities, Oncor and Infraestructura
Energética Nova, S.A.B. de C.V. (IEnova) are not the same companies
as the California utilities,
SDG&E or Southern California Gas Company, and Sempra North
American Infrastructure, Sempra LNG, Sempra Mexico, Sempra Texas
Utilities, Oncor and IEnova are not regulated by the CPUC.
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SOURCE Sempra Energy