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:
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.