Dividend Increase – Pinnacle West Capital Corporation’s (PNW)

 

Yesterday, October 22 the Board of Directors of Pinnacle West Capital Corporation announced a quarterly dividend increase of from $ 0.7825 to $ 0.83 per share that’s payable December 1, 2020 to holders of record November 2, 2020. This represents a 6.07% increase over last quarterly dividend.

 

“Today’s board action keeps our shareholder dividend payout competitive with peer utilities, while also allowing us to retain earnings to finance continued investment in our customers and communities,” said Chairman, President and CEO Jeff Guldner.

 

With current price $ 85.73 (yesterday's close), this raise brings their dividend yield to 3.87%.

 

PNW is a Dividend Challengers with a 8 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 6.1, 5.8, 5.4 and 3.6 (Dividend Champions.xls)

 

 

Since I own 40 shares of PNW, this will increase my portfolio's projected annual net dividend income by $ 5.66.

 

This increase raises my YOC to 4.76%.

 

 

 

 

Summary of 2020 Dividend Increases / Cuts

 

 

As you can see, some large dividend cuts will have the effect that full-year growth will be negative. I also believe that there will come more cuts during this year.

 

 

Click here to see my portfolio holdings.

 

You can follow the development of my dividends here.

 

Full Disclosure: Long PNW

 

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