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Southern California Edison declares preferred stock dividends
ROSEMEAD, Calif., December 8, 2011 — The Board of Directors of Edison International (NYSE: EIX) today declared a quarterly common stock dividend of $0.325 per share, payable January 31, 2012, to shareholders of record on December 30, 2011. This action increases the annual dividend from $1.28 per share to $1.30 per share.
"We are pleased to announce our eighth consecutive common stock dividend increase," said Ted Craver, chairman and CEO of Edison International. "This modest increase reflects our current focus on balancing dividend growth with the expected large capital investments that are required to meet public policy mandates and system reliability." Edison International’s dividend policy targets a payout of 45 percent to 55 percent of Southern California Edison (SCE) earnings with annual increases as approved by the Board of Directors.
Additionally, the Board of Directors of SCE today declared the following dividends:
- Quarterly dividends of $1.225 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, 2012, to shareholders of record on January 5, 2012.
- 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, 2012, to shareholders of record on February 3, 2012.
- A quarterly dividend of $1.625 per share on the Series D preference stock, payable on March 1, 2012, to shareholders of record on February 3, 2012.
About Edison International
Edison 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, one of the nation’s largest electric utilities, and Edison Mission Group, a competitive power generation business.