SAN DIEGO, Feb. 25, 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
April 15, 2020, to common stock
shareholders of record as of March 20,
2020. The declared quarterly dividend represents an 8%
increase to the company's common stock dividend to $4.18 per share, on an annualized basis, from
$3.87 per share in 2019. This is the
10th consecutive year that Sempra Energy has increased its common
stock dividend. On average, the company has increased its dividend
by more than 10% annually for the last decade.
Sempra Energy's board of directors also declared a quarterly
dividend of $1.50 per share on the
company's 6% Mandatory Convertible Preferred Stock, Series A.
Additionally, the board of directors declared a quarterly dividend
of $1.6875 per share on the company's
6.75% Mandatory Convertible Preferred Stock, Series B. The
preferred stock dividends will be payable April 15, 2020, to preferred stock shareholders
of record as of April 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
reported in 2018, the San
Diego-based company is the utility holding company with the
largest U.S. customer base. The Sempra Energy companies' more than
20,000 employees deliver energy with purpose to approximately 40
million consumers worldwide. 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 diversity and inclusion, and
sustainability, and is a member of the S&P 500 Utilities Index
and the Dow Jones Utility Index.
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. These statements can be identified by words such as
"believes," "expects," "anticipates," "plans," "estimates,"
"projects," "forecasts," "contemplates," "assumes," "depends,"
"should," "could," "would," "will," "confident," "may," "can,"
"potential," "possible," "proposed," "target," "pursue," "outlook,"
"maintain," or similar expressions, or when we discuss our
guidance, strategy, plans, goals, vision, mission, opportunities,
projections, initiatives, objectives or intentions. Forward-looking
statements are not guarantees of performance. They involve risks,
uncertainties and assumptions. Future results may differ materially
from those expressed in the forward-looking statements.
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: the greater degree and prevalence of wildfires
in California in recent years and the risk that we may be
found liable for damages regardless of fault, such as where inverse
condemnation applies, and the risk that we may not be able to
recover any such costs from insurance,
the California wildfire fund or in rates from customers
in California or otherwise; actions and the timing of
actions, including decisions, investigations, new regulations and
issuances of permits and other authorizations and renewal of
franchises by the Comisión Federal de Electricidad (CFE),
California Public Utilities Commission, U.S. Department of Energy,
California Department of Conservation's Division of Oil, Gas, and
Geothermal Resources, Los Angeles County Department of Public
Health, U.S. Environmental Protection Agency, Federal Energy
Regulatory Commission, Pipeline and Hazardous Materials Safety
Administration, Public Utility Commission of Texas, states,
cities and counties, and other regulatory and governmental bodies
in the U.S. and other countries in which we operate; the success of
business development efforts, construction projects, and major
acquisitions, divestitures and internal structural changes,
including risks in (i) obtaining or maintaining authorizations;
(ii) completing construction projects on schedule and budget; (iii)
obtaining the consent of partners; (iv) counterparties' financial
ability or otherwise to fulfill contractual commitments; (v)
winning competitively bid infrastructure projects; (vi) the ability
to complete contemplated acquisitions and/or divestitures and the
disruptions caused by such efforts; and (vii) the ability to
realize anticipated benefits from any of these efforts once
completed; the resolution of civil and criminal litigation,
regulatory investigations and proceedings, and arbitrations;
actions by credit rating agencies to downgrade our credit ratings
or those of our subsidiaries or to place those ratings on negative
outlook and our ability to borrow at favorable interest rates;
deviations from regulatory precedent or practice that result in a
reallocation of benefits or burdens among shareholders and
ratepayers; denial of approvals of proposed settlements; delays in,
or denial of, regulatory agency authorizations to recover costs in
rates from customers or regulatory agency approval for projects
required to enhance safety and reliability; moves to reduce or
eliminate reliance on natural gas; weather conditions, natural
disasters, accidents, equipment failures, computer system outages,
explosions, terrorist attacks and other events that disrupt our
operations, damage our facilities and systems, cause the release of
harmful materials, cause fires and subject us to third-party
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; risks posed by actions of third
parties who control the operations of our investments;
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 to honor the terms of
contracts by foreign governments and state-owned entities such as
the CFE, and other property disputes; the impact at San Diego Gas
& Electric Company on competitive customer rates and
reliability of electric transmission and distribution systems due
to the growth in distributed and local power generation and from
possible departing retail load resulting from customers
transferring to Direct Access and Community Choice Aggregation or
other forms of distributed and local power generation and the
potential 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
capital requirements and other regulatory and governance
commitments, including the determination by a majority of Oncor's
independent directors or a minority member director to retain such
amounts to meet future requirements; changes in capital markets,
energy markets and economic conditions, including the availability
of credit; and 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 foreign
and domestic trade policies and laws, including border tariffs and
revisions to or replacement of international trade agreements, such
as the North American Free Trade Agreement, that may increase our
costs or impair our ability to resolve trade disputes; actions of
activist shareholders, which could disrupt our operations by, among
other things, requiring significant time by management and our
board of directors; the impact of federal or state tax reform 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. These
forward-looking statements speak only as of the date hereof, and
the company undertakes no obligation to update or revise these
forecasts or projections or other forward-looking statements,
whether as a result of new information, future events or
otherwise.
Sempra South American Utilities, Sempra North American
Infrastructure, Sempra LNG, Sempra Mexico, Sempra Texas Utilities,
Oncor Electric Delivery Company LLC (Oncor) and Infraestructura
Energética Nova, S.A.B. de C.V. (IEnova) are not the same companies
as the California utilities, San Diego Gas & Electric
Company (SDG&E) or Southern California Gas Company (SoCalGas),
and Sempra South American Utilities, Sempra North American
Infrastructure, Sempra LNG, Sempra Mexico, Sempra Texas Utilities,
Oncor and IEnova are not regulated by the California Public
Utilities Commission.
[SRE-F]
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SOURCE Sempra Energy