Edison International Raises Common Stock Dividend 11.5 Percent; 14th Consecutive Annual Increase
December 07 2017 - 5:10PM
Business Wire
Southern California Edison declares preferred
stock dividends
Edison International (NYSE: EIX) today declared a quarterly
common stock dividend of $0.605 per share, payable on January 31,
2018, to shareholders of record on December 29, 2017. This action
increases the annual dividend by $0.25 per share for the fourth
year in a row. The 2018 annual dividend rate will be $2.42 per
share, an increase of 11.5 percent from the current annual dividend
rate of $2.17 per share.
“With this action today, we are taking another meaningful step
in raising our dividend towards the upper end of our target payout
ratio of 45 to 55 percent of Southern California Edison earnings
for Edison International,” said Pedro Pizarro, president and CEO of
Edison International. “Our strong balance sheet provides us the
flexibility to continue to grow our dividends faster than the
growth rate in earnings and also maintain our dividend growth rate
higher than the industry average.”
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,
2018, to shareholders of record on January 5, 2018.
- 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, 2018, to shareholders of
record on February 5, 2018.
- A quarterly dividend of $0.27 per share
on the 4.32% series of cumulative preferred stock, payable on March
31, 2018, to shareholders of record on March 5, 2018.
About Edison International
Edison International (NYSE:EIX), through its subsidiaries, is a
generator and distributor of electric power, as well as a provider
of 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. Edison International is also the parent
company of Edison Energy Group, a portfolio of competitive
businesses that provide commercial and industrial customers with
energy management and procurement services and distributed solar
generation. Edison Energy Group companies are independent from
Southern California Edison.
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/20171207006269/en/
Edison InternationalMedia Contact: Charles
Coleman, (626) 302-7982Investor Relations: Sam Ramraj,
(626) 302-2540
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