Edison International (NYSE: EIX) today declared a quarterly common stock dividend of $0.3375 per share, payable January 31, 2013, to shareholders of record on December 31, 2012. This action increases the annual dividend from $1.30 per share to $1.35 per share.
“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.
Additionally, SCE today declared the following dividends:
- Quarterly dividends of $1.08 per share on the Series A preference stock, and $1.50 per share on the Series C preference stock. Each of these dividends is payable January 31, 2013, to shareholders of record on January 4, 2013.
- A dividend of $31.25 per share on the Series E preference stock, payable on February 1, 2013, to shareholders of record on January 4, 2013.
- 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 28, 2013, to shareholders of record on February 5, 2013.
- A quarterly dividend of $1.625 per share on the Series D preference stock, payable on March 1, 2013, to shareholders of record on February 5, 2013.
- Quarterly dividends of $0.27 per share on the 4.32% series of cumulative preferred stock, and $1.53125 per share on the Series B preference stock. Each of these dividends is payable March 31, 2013, to shareholders of record on March 5, 2013.
About Edison InternationalEdison International, through its subsidiaries, is a generator and distributor of electric power and an investor in infrastructure and energy assets, including renewable energy. Headquartered in Rosemead, Calif., Edison International is the parent company of Southern California Edison.
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