Pinnacle West Capital Corp. (PNW) has been named as a Top 10 dividend paying utility stock, according to Dividend Channel, which published its weekly ''DividendRank'' report. The report noted that among utilities, PNW shares displayed both attractive valuation metrics and strong profitability metrics. For example, the recent PNW share price of $52.20 represents a price-to-book ratio of 1.3 and an annual dividend yield of 4.35% — by comparison, the average utility stock in Dividend Channel's coverage universe yields 4.0% and trades at a price-to-book ratio of 2.0. The report also cited the strong quarterly dividend history at Pinnacle West Capital Corp., and favorable long-term multi-year growth rates in key fundamental data points.
Why Pinnacle West Capital Is a Top 10 Utility Dividend Stock (PNW)
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