STHN CAL GAS 6 A PR - SOCGP STOCK NEWS

SoCalGas announced its board of directors has declared regular quarterly dividends for its preferred stock series. Shareholders will receive $0.375 per share for both Preferred Stock and Preferred Stock, Series A. The dividends will be paid on January 15, 2025, to shareholders of record as of December 10, 2024.

SoCalGas has announced energy-saving tips and programs to help customers manage their energy consumption during cooler months. The company is offering 50% increased rebates through November 30, 2024, for purchasing qualifying energy-efficient appliances. Key recommendations include managing heating systems, optimizing appliance usage, installing energy-saving fixtures, and sealing air leaks. The company highlights that upgrading to energy-efficient appliances can result in up to 20% savings. SoCalGas also provides various assistance programs including the Energy Savings Assistance Program for no-cost home improvements and CARE, offering a 20% discount on natural gas bills for qualifying low-income households.

The Latino Restaurant Association (LRA) has awarded 23 grants of $3,500 each to independently owned restaurants in the Central Valley, funded by a $100,000 grant from SoCalGas. This initiative, celebrating Hispanic Heritage Month, supports restaurants in South Fresno, Kings, and Tulare counties. Since 2020, SoCalGas has contributed over $350,000 to the LRA's efforts in promoting Latino restaurateurs and small business owners.

The grants aim to help restaurants invest in equipment, dining gear, technology upgrades, employee benefits, or other essential needs. To qualify, restaurants had to meet specific criteria, including owning up to three locations, generating less than $1 million in annual revenue per location, and being in business for more than three years. This initiative is part of SoCalGas' ASPIRE 2045 Sustainability Strategy, which plans to invest $50 million over five years into the communities it serves.

SoCalGas CEO Scott Drury received the Shift Diverse Business Solutions (Shift DBS) Transformative Leader Award at their annual Investor-owned Utility Supplier Summit. The award recognizes Drury's exceptional leadership in sustainability, safety, and supplier diversity. In 2023, SoCalGas exceeded the CPUC's diverse spending goal for the 31st consecutive year, purchasing 44% of all goods and services from diverse businesses.

Under Drury's leadership, SoCalGas' ASPIRE 2045 sustainability strategy aims to achieve 45% spending with diverse business enterprises by 2025 and net zero greenhouse gas emissions in operations and energy delivery by 2045. The company's Supplier Diversity Program was recognized by the DOE's Office of Energy Justice and Equity, leading to SoCalGas hosting the Minority Business Enterprise (MBE) Connect Summit in April 2024.

SoCalGas has donated $75,000 to Brotherhood Crusade for the development of the Danny J. Bakewell, Sr. Community Garden in South Los Angeles. The garden, set to open in Spring 2025, aims to serve 200 families in its first year, addressing food insecurity and providing access to fresh produce. It will expand Brotherhood Crusade's Teaching Gardens program, offering education on urban agriculture, nutrition, and environmental stewardship.

The garden honors Danny J. Bakewell, Sr., who led Brotherhood Crusade for 35 years and is a prominent community leader. The project aligns with SoCalGas' ASPIRE 2045 sustainability goals, which include a $50 million investment to drive positive change in diverse and underserved communities over five years. This initiative addresses the issue of food deserts in Los Angeles, where 1.4 million Angelenos lack access to sufficient and healthy food.

CIM Group has secured a significant lease agreement with Southern California Gas Company (SoCalGas) for approximately 198,553 square feet at City National 2CAL in Downtown Los Angeles. This marks the largest new office lease in downtown LA for 2024. SoCalGas, the largest gas distribution utility in the US, will relocate its headquarters to the 52-story office building at 350 S. Grand Ave.

The lease follows CIM Group's recent 119,217 square-foot lease to Shepard Mullin in December 2023. CIM Group has implemented various improvements to the property since acquiring it in 2014, including modernizing entrances and renovating The Yard, a 1.5-acre central court. The building has also received several sustainability certifications, including LEED Platinum recertification in 2023.

SoCalGas has launched a new Low Carbon Fuel Standard (LCFS) Fuel Card Incentive Program to support the transition to low- and zero-emissions vehicles in the heavy-duty transportation sector. The company is making $1.5 million available for 50 fuel cards worth $30,000 each. Companies purchasing qualifying Class 8 Heavy-Duty natural gas trucks between Sept. 9 and Dec. 8, 2024, can apply for these cards, with priority given to fleets with fewer than 10 vehicles.

This initiative aligns with California's carbon neutrality goals and aims to reduce greenhouse gas emissions and improve air quality. SoCalGas, which has already converted 38% of its over-the-road fleet to alternative fuel vehicles, plans to operate a 100% zero-emissions fleet by 2035. The fuel cards can be used at SoCalGas' 16 public access stations, which dispense 100% renewable natural gas (RNG).

Southern California Gas Company (SoCalGas) has announced its regular quarterly dividends for preferred series stock. The board of directors declared dividends of $0.375 per share for both Preferred Stock and Preferred Stock, Series A. These dividends will be paid on October 15, 2024, to shareholders of record as of September 10, 2024. This announcement demonstrates SoCalGas's commitment to providing consistent returns to its preferred stockholders, maintaining its dividend policy despite potential economic uncertainties.

SoCalGas has awarded $314,000 in scholarships to 29 students in Central and Southern California through its Scholarship Program. The program offers $5,000 renewable scholarships for four-year university students, totaling $20,000 over four years, and $1,000 scholarships for community college and trade school students. Additionally, 28 previous recipients will have their scholarships renewed.

Since 2001, SoCalGas has awarded over $3.9 million to 2,355 students. The program evaluates candidates based on academic achievements, community involvement, financial need, and their understanding of sustainable energy in California. It aims to support students in STEM fields, finance, accounting, business administration, and various trades.

This initiative aligns with SoCalGas' ASPIRE 2045 Sustainability Strategy, which includes a $50 million investment over five years to advance diversity and work towards a carbon-neutral future.