SAN DIEGO, Nov. 18, 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 Jan. 15, 2021, to common
stock shareholders of record at the close of business on Dec.
18, 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. Both preferred stock
dividends will be payable Jan. 15,
2021, to preferred stock shareholders of record at the close
of business on Jan. 1, 2021.
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 at the end of 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 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. 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,
including 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, renewals 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, counties,
cities 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, (ii) completing construction projects on schedule and
budget, (iii) the ability to realize anticipated benefits from any
of these efforts once completed, and (iv) obtaining the consent of
partners; 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 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 of
natural gas from 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 tax and trade policies, laws and
regulations, including tariffs and revisions to or replacement of
international trade agreements, such as the United States-Mexico-Canada Agreement,
that may increase our costs or impair our ability to resolve trade
disputes; 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