Southwest Gas Holdings Declares Fourth Quarter 2024 Dividend

Rhea-AI Summary

Southwest Gas Holdings (NYSE: SWX) has declared a fourth quarter cash dividend of $0.62 per share, payable on December 2, 2024, to shareholders of record as of November 15, 2024. This dividend equates to $2.48 per share on an annualized basis. The company has consistently paid quarterly dividends since going public in 1956. Southwest Gas Holdings, based in Las Vegas, Nevada, operates primarily through its subsidiary Southwest Gas , which is involved in purchasing, distributing, and transporting natural gas. The company serves over 2 million customers across portions of Arizona, Nevada, and California.

Positive

• Consistent dividend payment history since 1956
• Quarterly dividend of $0.62 per share, annualized to $2.48
• Large customer base of over 2 million across three states

Negative

• None.

Insights

Financial Analyst

Southwest Gas Holdings' dividend declaration is a positive signal for income-focused investors. The $0.62 per share quarterly dividend, annualizing to $2.48, demonstrates the company's commitment to shareholder returns. This consistency, dating back to 1956, underscores SWX's financial stability and cash flow generation capacity.

However, investors should note that the dividend remains unchanged from previous quarters, indicating no growth. With utilities facing challenges from rising interest rates and inflationary pressures, maintaining the dividend suggests fiscal prudence but may disappoint growth-oriented investors. The 4.5% yield (based on current stock price) is attractive in the utility sector, potentially supporting the stock price in a volatile market.

LAS VEGAS, Sept. 17, 2024 /PRNewswire/ -- The Board of Directors for Southwest Gas Holdings, Inc. ("Southwest Gas") (NYSE: SWX) has declared the following fourth quarter cash dividend:

Common Stock
Payable	December 2, 2024
Of Record	November 15, 2024
Dividend	$0.62 per share

 

The dividend equates to $2.48 per share on an annualized basis. The Company has paid quarterly dividends continuously since going public in 1956.

Additional dividend information, including the tax status of Southwest Gas' dividend distributions, can be obtained through the Investor Relations section of Southwest Gas' website, www.swgasholdings.com.

About Southwest Gas Holdings, Inc.

Southwest Gas Holdings, Inc., based in Las Vegas, Nevada, through its primary operating subsidiary Southwest Gas Corporation, engages in the business of purchasing, distributing, and transporting natural gas. In addition, Southwest Gas Holdings, Inc. is the majority owner of Centuri Holdings, Inc., which provides comprehensive utility infrastructure services across North America. Southwest Gas Corporation is a dynamic energy company committed to exceeding the expectations of over 2 million residential, commercial, and industrial customers throughout portions of Arizona, Nevada, and California by providing safe and reliable service while innovating sustainable energy solutions to fuel the growth in its communities.

 

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SOURCE Southwest Gas Holdings, Inc.

FAQ

What is Southwest Gas Holdings' (SWX) fourth quarter 2024 dividend amount?

Southwest Gas Holdings (SWX) has declared a fourth quarter 2024 cash dividend of $0.62 per share.

When will Southwest Gas Holdings (SWX) pay its fourth quarter 2024 dividend?

Southwest Gas Holdings (SWX) will pay its fourth quarter 2024 dividend on December 2, 2024.

What is the annualized dividend for Southwest Gas Holdings (SWX) based on the fourth quarter 2024 dividend?

Based on the fourth quarter 2024 dividend, Southwest Gas Holdings' (SWX) annualized dividend equates to $2.48 per share.

How long has Southwest Gas Holdings (SWX) been paying quarterly dividends?

Southwest Gas Holdings (SWX) has been paying quarterly dividends continuously since going public in 1956.