UPDATE: Edison Int'l (EIX) Raises Quarterly Dividend 15% to $0.48; 3.3% Yield

Edison Int'l (NYSE: EIX) declared a quarterly dividend of $0.48 per share, or $1.92 annualized. This is a 15% increase from the prior dividend of $0.4175.

The dividend will be payable on January 31, 2016, to stockholders of record on December 31, 2015, with an ex-dividend date of December 29, 2015.

The annual yield on the dividend is 3.3 percent.

“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.

For a dividend history and other dividend-related data on Edison Int'l (EIX) click here.

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