Pinnacle West Declares Quarterly Dividend

Rhea-AI Summary

Pinnacle West Capital (NYSE: PNW) announced a 1.7% increase in its quarterly dividend, raising it by 6 cents annually to $3.58 per share ($0.895 quarterly). The dividend is payable Dec. 2, 2024, to shareholders of record as of Nov. 4, 2024. The company will release its 2024 third-quarter results on Nov. 6, 2024. Pinnacle West, through its subsidiary Arizona Public Service, serves about 1.4 million Arizona customers with consolidated assets exceeding $26 billion and approximately 6,500 megawatts of generating capacity.

Positive

• Dividend increase of 1.7% (6 cents annually)
• Substantial asset base of over $26 billion
• Large customer base of 1.4 million homes and businesses
• Significant generating capacity of 6,500 megawatts

Negative

• None.

Third-Quarter Financial Results, Conference Call Scheduled for Nov. 6

PHOENIX--(BUSINESS WIRE)-- Pinnacle West Capital Corporation’s (NYSE: PNW) board of directors voted today to raise the Company’s dividend by about 1.7%, or 6 cents per common share annually. This action will result in an indicated annual dividend of $3.58 per share – or $0.895 per share quarterly. The declared quarterly dividend is payable Dec. 2, 2024, to shareholders of record at the close of business Nov. 4, 2024.

Earnings Release, Webcast and Conference Call

In addition, as previously announced, Pinnacle West plans to release its 2024 third-quarter results before the U.S. financial markets open on Wednesday, Nov. 6, 2024.

That same day at 11 a.m. ET (9 a.m. Arizona time), management will host a live webcast and conference call to discuss financial results and recent developments. The webcast can be accessed at pinnaclewest.com/presentations and will be available for replay on the website for 30 days. To access the live conference call by telephone, dial (888) 506-0062 or (973) 528-0011 for international callers and enter participant access code 952382. A replay of the call also will be available at pinnaclewest.com/presentations or by telephone until 11:59 p.m. ET, Wednesday, Nov. 13, 2024, by calling (877) 481-4010 in the U.S. and Canada or (919) 882-2331 internationally and entering replay passcode 51357.

Pinnacle West Capital Corp., an energy holding company based in Phoenix, has consolidated assets of more than $26 billion, about 6,500 megawatts of generating capacity and approximately 6,100 employees in Arizona and New Mexico. Through its principal subsidiary, Arizona Public Service, the company provides retail electricity service to about 1.4 million Arizona homes and businesses. For more information about Pinnacle West, visit the company’s website at pinnaclewest.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241023290946/en/

Media Contact: Alan Bunnell (602) 250-3376

Analyst Contact: Amanda Ho (602) 250-3334

Website: pinnaclewest.com

Source: Pinnacle West Capital Corporation

FAQ

What is Pinnacle West's (PNW) new quarterly dividend amount for 2024?

Pinnacle West's new quarterly dividend is $0.895 per share, resulting in an annual dividend of $3.58 per share.

When will Pinnacle West (PNW) pay its next quarterly dividend in 2024?

The quarterly dividend will be paid on December 2, 2024, to shareholders of record as of November 4, 2024.

When will Pinnacle West (PNW) release its Q3 2024 earnings?

Pinnacle West will release its 2024 third-quarter results before U.S. financial markets open on Wednesday, November 6, 2024.

By what percentage did Pinnacle West (PNW) increase its dividend in 2024?

Pinnacle West increased its dividend by approximately 1.7%, or 6 cents per common share annually.