ROSEMEAD, Calif.--(BUSINESS WIRE)--Edison International (NYSE: EIX) today declared a quarterly common stock dividend of $0.5425 per share, payable on January 31, 2017, to shareholders of record on December 30, 2016. This action increases the annual dividend by $0.25 per share for the third year in a row. The 2017 annual dividend rate will be $2.17 per share, an increase of 13 percent from the current annual dividend rate of $1.92 per share.
“We are pleased to increase our dividend for the 13th consecutive year, one of only four companies in the Philadelphia Utility Index with at least a decade of annual dividend growth,” said Pedro Pizarro, president and CEO of Edison International. “We still have additional opportunity to move higher in the range of our targeted payout ratio of 45 to 55 percent of the earnings of Southern California Edison. Dividend growth remains an important element of Edison International’s value proposition for investors as we target dividend growth in steps and over time, at a faster pace than SCE’s earnings growth.”
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, 2017, to shareholders of record on January 5, 2017.
- 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, 2017, to shareholders of record on February 3, 2017.
- A quarterly dividend of $0.27 per share on the 4.32% series of cumulative preferred stock, payable on March 31, 2017, to shareholders of record on March 3, 2017.
About Edison International
Edison International (NYSE:EIX), through its subsidiaries, is a generator and distributor of electric power and an investor in 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.
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.