Edison International Raises Common Stock Dividend From $0.7375 To $0.78 Per Share
Portfolio Pulse from Benzinga Newsdesk
Edison International (NYSE:EIX) has increased its quarterly common stock dividend from $0.7375 to $0.78 per share, marking a 5.8% increase and the 20th consecutive annual dividend increase. The new annual dividend rate will be $3.12 per share. The dividend is payable on January 31, 2024, to shareholders of record as of December 29, 2023. Additionally, Southern California Edison declared a semiannual dividend of $25.1409 per share on the Series E preference stock, payable on February 1, 2024, to shareholders of record on January 5, 2024.
December 14, 2023 | 9:43 pm
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Edison International has raised its quarterly dividend to $0.78 per share, a 5.8% increase, with a new annual rate of $3.12. This reflects confidence in achieving 5% to 7% core EPS growth and marks the 20th year of dividend growth.
The increase in dividend is a positive signal to investors, often interpreted as confidence in the company's financial health and future earnings potential. This can attract income-focused investors and potentially boost the stock price in the short term. The announcement of the 20th consecutive annual increase further strengthens investor perception of the company's commitment to shareholder returns.
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