Edison International Raises Common Stock Dividend 5.4%; 19th Consecutive Annual Increase

Rhea-AI Summary

Edison International (NYSE: EIX) has declared a quarterly common stock dividend of $0.7375 per share, payable on Jan. 31, 2023, to shareholders of record on Dec. 30, 2022. This increases the annual dividend to $2.95 per share, a rise of 5.4% from $2.80. This marks the 19th consecutive annual increase, showcasing management's confidence in achieving a 5% to 7% long-term EPS growth target. Additionally, a quarterly dividend of $22.0764 per share on Series E preference stock will be payable on Feb. 1, 2023.

Positive

• 5.4% increase in annual dividend to $2.95 per share, enhancing shareholder income.
• 19th consecutive annual dividend increase, indicating strong management confidence.

Negative

• None.

Southern California Edison declares preference stock dividends

ROSEMEAD, Calif.--(BUSINESS WIRE)-- Edison International (NYSE: EIX) today declared a quarterly common stock dividend of $0.7375 per share, payable on Jan. 31, 2023, to shareholders of record on Dec. 30, 2022. This action increases the annual dividend by $0.15 per share. The 2023 annual dividend rate will be $2.95 per share, an increase of 5.4% from the current annual dividend rate of $2.80 per share.

“Today’s 5.4% increase in our dividend reflects the board and management’s continued confidence and commitment to delivering on the company’s 5% to 7% long-term EPS growth target. This marks the 19th consecutive annual increase in Edison International’s dividend, which delivers an attractive yield and remains a key component of the company’s total return proposition,” said Pedro J. Pizarro, president and CEO of Edison International.

Additionally, Southern California Edison today declared the following dividend:

• A quarterly dividend of $22.0764 per share on the Series E preference stock, payable on Feb. 1, 2023, to shareholders of record on Jan. 5, 2023.

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 LLC, a global energy advisory firm engaged in the business of providing integrated decarbonization and energy solutions to commercial, industrial and institutional customers.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221208006038/en/

Investor Relations: Sam Ramraj, (626) 302-2540

Media Contact: Jeff Monford, (626) 476-8120

Source: Edison International

FAQ

What is the new dividend amount for Edison International (EIX)?

The new quarterly dividend amount is $0.7375 per share.

When will the new dividend for EIX be paid?

The new dividend will be paid on January 31, 2023.

What was the annual dividend increase for EIX?

The annual dividend increased by $0.15, or 5.4%, to $2.95 per share.

How many consecutive years has Edison International increased its dividend?

Edison International has increased its dividend for 19 consecutive years.

What is the dividend amount for the Series E preference stock?

The dividend for Series E preference stock is $22.0764 per share.