Edison International (EIX) Raises Quarterly Dividend 3.8% to $0.3375; 2.9% Yield

Edison International (NYSE: EIX) declared a quarterly dividend of $0.3375 per share, or $1.35 annualized. This is a 3.8% increase from the prior dividend of $0.325.

The dividend will be payable on January 31, 2013, to stockholders of record on December 31, 2012, with an ex-dividend date of December 27, 2012.

The annual yield on the dividend is 2.9 percent.

“We are pleased to announce our ninth consecutive annual increase in our common stock dividend,” said Ted Craver, chairman and CEO of Edison International. “We want to begin the process of returning to our target dividend payout ratio of 45 to 55 percent of the earnings of Southern California Edison, and this year’s slightly larger increase in our dividend rate is the first step.”

The company looks to return to this range in steps over time as Southern California Edison’s (SCE) capital spending levels moderate from its expected peak in 2013.

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

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