Edison International Raises Common Stock Dividend 15 Percent; Sees Multi-Year Return Opportunity
December 10 2015 - 4:21PM
Business Wire
Southern California Edison declares preferred
stock dividends
Edison International (NYSE: EIX) today declared a quarterly
common stock dividend of $0.48 per share, payable on January 31,
2016, to shareholders of record on December 31, 2015. This action
increases the annual dividend rate by 15 percent, from $1.67 per
share to $1.92 per share. Edison International has increased its
common stock dividend for 12 consecutive years.
“With this action today, we are taking another meaningful step
to return Edison International’s common stock dividend to the
target payout ratio of 45 to 55 percent of the earnings of Southern
California Edison. We will return to the target payout ratio in
steps, over time, by increasing the dividend faster than the growth
rate in earnings,” said Ted Craver, chairman and CEO of Edison
International.
Southern California Edison (SCE) sees continued high levels of
infrastructure investment to support system reliability,
California’s low-carbon economy goals, and build the grid of the
future.
Commenting on future earnings and dividend growth, Craver added,
“We see the potential for our shareholders to benefit from a
multi-year opportunity of industry-leading returns from the
combination of investment-driven earnings growth and sustained
common dividend increases.”
Details on SCE Preferred Stock
Dividends
Additionally, Southern California Edison today declared the
following dividends:
- Quarterly dividends of $31.25 per share
on the Series E preference stock, payable on February 1, 2016, to
shareholders of record on January 5, 2016.
- Quarterly dividends of $0.255 per share
on the 4.08% series of cumulative preferred stock, $0.265 per share
on the 4.24% series of cumulative preferred stock and $0.29875 per
share on the 4.78% series of cumulative preferred stock. Each of
these dividends is payable on February 29, 2016, to shareholders of
record on February 5, 2016.
- A quarterly dividend of $1.625 per
share on the Series D preference stock, payable on March 1, 2016,
to shareholders of record on February 5, 2016.
- A quarterly dividend of $0.27 per share
on the 4.32% series of cumulative preferred stock, payable on March
31, 2016, to shareholders of record on March 4, 2016.
About Edison International
Edison International (NYSE:EIX), through its subsidiaries, is a
generator and distributor of electric power and an investor in
energy services and technologies, including renewable energy.
Headquartered in Rosemead, Calif., Edison International is the
parent company of Southern California Edison, one of the nation’s
largest electric utilities.
Risk Disclosure Statement
Forward-looking statements about the financial outlook for
Edison International and its subsidiaries are included in this news
release. These forward-looking statements reflect our current
expectations; however, such statements involve risks and
uncertainties. Actual results could differ materially from current
expectations. Important factors that could cause different results
are discussed under the headings “Risk Factors” and “Management’s
Discussion and Analysis of Financial Condition and Results of
Operations” in Edison International’s Form 10-K, most recent Form
10-Q, and other reports and presentations filed with the Securities
and Exchange Commission which are available at:
www.edisoninvestor.com. These forward-looking statements represent
our expectations only as of the date of this news release, and
Edison International assumes no duty to update them to reflect new
information, events or circumstances.
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version on businesswire.com: http://www.businesswire.com/news/home/20151210006546/en/
Edison InternationalMedia Contact: Charles Coleman,
626-302-7982Investor Relations: Scott Cunningham,
626-302-2540
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