Edison International - EIX STOCK NEWS

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.

On November 2, 2022, SunPower Corp. (SPWR) announced a collaboration with KB Home (KBH), University of California, Irvine, Schneider Electric, and Southern California Edison to develop energy-smart connected communities in Menifee, California. This project involves over 200 all-electric homes featuring solar power and battery storage systems, creating self-supporting microgrids. Funded by a $6.65 million Department of Energy grant, these homes aim to reduce energy costs and greenhouse gas emissions by meeting Zero Energy Ready Home standards, thus providing a model for sustainable home development.

Edison International reported a third quarter 2022 net loss of $128 million, or $0.33 per share, an improvement from a loss of $341 million in Q3 2021. Core EPS decreased to $1.48 from $1.69 year-over-year, mainly due to a prior true-up adjustment. The utility is making progress in wildfire mitigation, set to complete 4,300 miles of covered conductor by year-end. Notably, a revision of estimates regarding past wildfire claims resulted in an after-tax charge of $598 million. The company has narrowed its 2022 EPS guidance to $4.48–4.68, maintaining a long-term growth target of 5–7%.

The Board of Directors of Southern California Edison has declared quarterly dividends for its preference stocks, payable on December 15, 2022. Shareholders on record as of December 14, 2022 will receive the following distributions:

• Series G: $0.31875 per share
• Series H: $0.359375 per share
• Series J: $0.3359375 per share
• Series K: $0.340625 per share
• Series L: $0.3125 per share

Southern California Edison, a subsidiary of Edison International (NYSE: EIX), serves approximately 15 million people in Southern California.

Edison International is expanding its Edison Scholars Program, offering high school seniors a chance to receive a $50,000 scholarship and a paid summer internship with Southern California Edison. Applications are open until December 9, with $1.5 million allocated for this year's scholarships. The program aims to support students from underserved communities pursuing studies in STEM fields. Since 2006, over $13.5 million has been awarded to 730 students, funded by shareholder contributions.

Edison International (NYSE: EIX) announced its Third Quarter 2022 Financial Results on November 1, 2022. The conference call is scheduled from 1:30 to 2:30 p.m. (Pacific Time), with access numbers provided for both U.S. and international callers. A replay will be available until November 16, 2022. Edison International, a major electric utility holding company, serves 15 million customers in California through Southern California Edison Company and offers energy solutions via Edison Energy LLC.

The Board of Directors of Edison International (NYSE: EIX) announced a quarterly common stock dividend of $0.70 per share, payable on October 31, 2022, to shareholders of record by September 30, 2022. Additionally, the Board declared several semi-annual dividends on its preferred stocks, including $26.875 for Series A and $25.00 for Series B, both payable on September 15, 2022. The Southern California Edison also announced dividends on various preference stocks, marking a commitment to return value to shareholders.

Edison International (NYSE: EIX) reported a second quarter 2022 net income of $241 million, or $0.63 per share, down from $318 million, or $0.84 per share in Q2 2021. Core EPS remained steady at $0.94, reflecting operational stability. The company reaffirmed 2022 EPS guidance at $4.40–4.70, with a long-term growth target of 5–7%. Significant advancements include the installation of over 3,500 circuit miles of covered conductor for wildfire mitigation, enhancing safety measures. Edison also maintains the lowest system average rate among large California utilities, demonstrating operational excellence.

Southern California Edison (EIX) has successfully deployed over 3,500 miles of covered conductor to mitigate wildfire risks, achieving a significant 65% to 70% reduction in potential wildfire losses compared to pre-2018 levels. The company aims to complete 6,500 miles of covered conductor installations by the end of 2024. Enhanced grid hardening measures and targeted Public Safety Power Shutoffs (PSPS) contribute to this safety initiative. SCE anticipates a 60% decrease in PSPS outage time across 50 additional circuits this year, underscoring its commitment to community safety and reliable electricity supply.