El Paso Electric (EE) Declares $0.385 Quarterly Dividend; 2.3% Yield

El Paso Electric (NYSE: EE) declared a quarterly dividend of $0.385 per share, or $1.54 annualized.

The dividend will be payable on June 30, 2020, to stockholders of record on June 16, 2020, with an ex-dividend date of June 15, 2020.

The annual yield on the dividend is 2.3 percent.

If EE’s previously announced acquisition by the Infrastructure Investments Fund (IIF) occurs on or before June 16, 2020, EE will pay a “stub period” cash dividend in an amount equal to $0.004231 per share (which reflects the most recent regular quarterly EE common stock dividend rate of $0.385 per share, divided by 91) multiplied by the number of days from and including March 18, 2020, the day after the record date for the most recent regular quarterly EE common stock dividend, to and including the closing date of the IIF acquisition. If the IIF acquisition occurs after June 16, 2020, EE will pay a regular quarterly cash dividend of $0.41 per share.

If the IIF acquisition occurs on or before June 16, the “stub period” cash dividend will be payable to the holders of record of EE common stock as of the close of business on the last day that EE common stock is traded on the New York Stock Exchange (NYSE). If the IIF acquisition occurs after June 16, the regular quarterly cash dividend will be payable on June 30, 2020, in accordance with EE’s regular dividend schedule, to shareholders of record as of the close of business on June 16, 2020.

EE and IIF continue to expect to close the IIF acquisition in the first half of 2020. With the closing of the IIF acquisition, shares of EE common stock will cease to be traded on the NYSE.

For a dividend history and other dividend-related data on El Paso Electric (EE) click here.

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