Edison International Raises Common Stock Dividend 3.92%; 17th Consecutive Annual Increase

Rhea-AI Summary

Edison International (NYSE: EIX) has announced a quarterly dividend of $0.6625 per share, payable on January 31, 2021, to shareholders on record as of December 31, 2020. This marks a $0.10 increase in the annual dividend, raising it to $2.65 per share, a 3.92% increase from the previous rate of $2.55. This is the seventeenth consecutive year of dividend growth, reflecting confidence in the company's financial stability and commitment to substantial capital investments to enhance a reliable power grid.

Positive

• Quarterly dividend increased to $0.6625 per share.
• Annual dividend rate raised to $2.65 per share, a 3.92% increase.
• Seventeenth consecutive year of dividend growth.
• Dividend increase aligns with targeted payout ratio of 45-55% of core earnings.

Negative

• None.

ROSEMEAD, Calif.--(BUSINESS WIRE)--Edison International (NYSE: EIX) today declared a quarterly common stock dividend of $0.6625 per share, payable on Jan. 31, 2021, to shareholders of record on Dec. 31, 2020. This action increases the annual dividend by $0.10 per share. The 2021 annual dividend rate will be $2.65 per share, an increase of 3.92% from the current annual dividend rate of $2.55 per share.

“We are pleased to raise the EIX dividend for the seventeenth consecutive year. At the same time, Southern California Edison continues to make substantial capital investments to ensure we have a strong, safe, reliable, and resilient power grid,” said Pedro Pizarro, president and CEO of Edison International. “This dividend growth keeps us within our targeted payout ratio range of 45 to 55% of SCE's core earnings and reflects our confidence in maintaining a strong balance sheet that supports financial flexibility.”

Pizarro added, “Our vision for how California's economy and our company can combat climate change calls for the transformation of our industry through clean energy and economy-wide electrification. SCE continues to make significant investments in the infrastructure necessary to execute our strategy, which is consistent with the state's climate change policies and objectives.”

Additionally, SCE today declared the following dividend:

• A semiannual dividend of $31.25 per share on the Series E preference stock, payable on Feb. 1, 2021, to shareholders of record on Jan. 5, 2021.

About Edison International

Edison International (NYSE: EIX) is one of the nation’s largest electric utility holding companies, providing clean and reliable energy and energy services through its independent companies. Headquartered in Rosemead, California, Edison International is the parent company of Southern California Edison Company, a utility that delivers electricity to 15 million people across Southern, Central and Coastal California. Edison International is also the parent company of Edison Energy, a global energy advisory company delivering comprehensive, data-driven energy solutions to commercial and industrial users to meet their cost, sustainability and risk goals.