Edison International Raises Common Stock Dividend 5.66%; 18th Consecutive Annual Increase

Rhea-AI Summary

Edison International (NYSE: EIX) has declared a quarterly common stock dividend of $0.70 per share, with a payment date of Jan. 31, 2022. This announcement marks an annual increase of $0.15, resulting in a new annual dividend rate of $2.80, a 5.66% rise from $2.65. This is the 18th consecutive year of dividend increases, reflecting management's confidence in achieving a long-term EPS growth target of 5 to 7%. A semiannual dividend of $31.25 on Series E preference stock is also declared, payable on Feb. 1, 2022.

Positive

• Quarterly common stock dividend increased to $0.70 per share.
• Annual dividend raised to $2.80 per share, up 5.66% from $2.65.
• 18 consecutive years of dividend increases, indicating strong management confidence.
• Long-term EPS growth target of 5 to 7% backed by investments in wildfire mitigation and electrification.

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 $0.70 per share, payable on Jan. 31, 2022, to shareholders of record on Dec. 31, 2021. This action increases the annual dividend by $0.15 per share. The 2022 annual dividend rate will be $2.80 per share, an increase of 5.66% from the current annual dividend rate of $2.65 per share.

“I’m pleased that Edison International has increased its dividend for the 18th consecutive year. The approval of this 5.66% increase reflects the board and management’s continued confidence in the company’s 5 to 7% long-term EPS growth target,” said Pedro J. Pizarro, president and CEO of Edison International. “This long-term growth is driven by Southern California Edison’s investments in wildfire mitigation and the infrastructure needed for economywide electrification. As Edison leads the transformation of the electric power industry, the power grid remains at the core of achieving a safe, reliable, and affordable clean-energy future.”

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, 2022, to shareholders of record on Jan. 5, 2022.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211209006115/en/

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

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

Source: Edison International

FAQ

What is the dividend amount declared by Edison International in 2022?

Edison International declared a quarterly common stock dividend of $0.70 per share.

When is the dividend payable to shareholders?

The dividend is payable on January 31, 2022, to shareholders of record as of December 31, 2021.

What is the new annual dividend rate for Edison International?

The new annual dividend rate is $2.80 per share.

How much has the dividend increased from the previous year?

The dividend has increased by $0.15, or 5.66%, from the previous annual rate.

What is the series E preference stock dividend amount?

The series E preference stock dividend declared is $31.25 per share.

When will the preference stock dividend be paid?

The preference stock dividend is payable on February 1, 2022, to shareholders of record as of January 5, 2022.