Edison International Declares Common Stock Dividend
December 06 2018 - 4:46PM
Business Wire
Southern California Edison declares preferred
stock dividends
Edison International (NYSE: EIX) today declared a quarterly
common stock dividend of $0.6125 per share, payable on January 31,
2019, to shareholders of record on December 31, 2018. This action
increases the annual dividend by $0.03 per share. The 2019 annual
dividend rate will be $2.45 per share.
“The company’s top priority continues to be
the safety of our customers, communities and employees,
particularly given the tragic consequences of recent wildfires,”
said Pedro Pizarro, president and CEO of Edison International. “We
will continue to make the investments necessary to deliver safe,
reliable and affordable electricity. Over the long term, providing
value in the form of earnings growth and dividends, like the one
announced today, helps us maintain a lower cost of capital to
manage customer rates. In declaring this dividend, the Board
considered the likely ability of the company to meet its
liabilities as they mature, as well as a broad range of potential
negative outcomes related to the Thomas and Woolsey fires. Our
dividend rate is within our targeted payout ratio of 45 to 55
percent of Southern California Edison’s earnings.”
Pizarro added, “We have flexibility to
utilize short- and long-term debt as we continue to evaluate
options to fund rate base growth and other operational needs
included in the 2018 General Rate Case application and other
requested capital programs and those arising from potential
wildfire liabilities.”
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,
2019, to shareholders of record on January 4, 2019.
- 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, 2019, to shareholders of
record on February 5, 2019.
- A quarterly dividend of $0.27 per share
on the 4.32% series of cumulative preferred stock, payable on March
31, 2019, to shareholders of record on March 5, 2019.
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, 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 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/20181206005978/en/
Media Contact: Charles Coleman, (626) 302-7982Investor
Relations: Sam Ramraj, (626) 302-2540
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