Media Contact: Ron Gales, (626) 302-2255
Investor Relations: Sam Ramraj, (626) 302-2540
ROSEMEAD, Calif., Dec. 12, 2019 — Edison International (NYSE: EIX) today declared a quarterly common stock dividend of $0.6375 per share, payable on Jan. 31, 2020, to shareholders of record on Dec. 31, 2019. This action increases the annual dividend by $0.10 per share. The 2020 annual dividend rate will be $2.55 per share, an increase of 4.08% from the current annual dividend rate of $2.45 per share.
“The company’s top priority continues to be the safety of our customers, communities and employees as we move forward with our wildfire mitigation efforts through grid hardening, increased situational awareness and enhanced operational practices,” said Pedro Pizarro, president and CEO of Edison International. “Our wildfire mitigation work is a critical component to hardening our grid and ensuring reliability. We understand the importance of this today and in the future as electrification of the economy continues and customers rely even more on the grid.”
Pizarro added, “Because of this, Southern California Edison also continues to make significant investments in capital programs, including transportation electrification and grid resiliency, to enable affordable electricity and to support California’s clean energy goals. Our strong balance sheet provides us the flexibility to continue to make these significant investments while growing our dividend within our targeted payout ratio of 45% to 55% of SCE’s earnings.”
Details on SCE Preferred Stock Dividends
Additionally, SCE today declared the following dividends:
- A semiannual dividend of $31.25 per share on the Series E preference stock, payable on Feb. 1, 2020, to shareholders of record on Jan. 3, 2020.
- 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 Feb. 29, 2020, to shareholders of record on Feb. 5, 2020.
- A quarterly dividend of $0.27 per share on the 4.32% series of cumulative preferred stock, payable on March 31, 2020, to shareholders of record on March 5, 2020.
About Edison International
Edison International (NYSE: EIX), through its subsidiaries, is a distributor and generator of electric power, as well as a provider of energy services and technologies, including renewable energy. Headquartered in Rosemead, California, Edison International is the parent company of Southern California Edison, one of the nation’s largest electric utilities. Edison International is also the parent company of Edison Energy, a portfolio of competitive businesses that provide commercial and industrial customers with energy management and procurement services. Edison Energy is independent from Southern California Edison.
Safe Harbor Statement
Forward-looking statements about the financial outlook for Edison International and its subsidiaries are included in this news release, including statements about wildfire mitigation efforts, capital program investments and potential growth in future earnings and dividends. These forward-looking statements reflect our current expectations; however, such statements involve risks and uncertainties. Actual results could differ materially from current expectations. Important factors that could cause different results are discussed under the headings “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Edison International’s Form 10-K, most recent Form 10-Q and other reports and presentations filed with the Securities and Exchange Commission which are available at: www.edisoninvestor.com. These forward-looking statements represent our expectations only as of the date of this news release, and Edison International assumes no duty to update them to reflect new information, events or circumstances.