Thursday, November 4th the Board of Pinnacle West Capital
Corporation (PNW) announced
a quarterly dividend increase of from $ 0.83 to $ 0.85 per share that’s payable
December 1, 2021 to holders of record November 16, 2021. This represents a 2.41%
increase over the last quarterly dividend.
“Despite recent state regulatory decisions and
uncertainty that has made it difficult to deliver capital appreciation in the
current environment, today’s board action sends a message to our shareholders
that their investment in our company and the communities we serve is valued and
appreciated,” said Chairman, President and CEO Jeff Guldner. “We have
consistently grown our dividend for 10 consecutive years, and we remain
committed to providing an attractive yield and long-term growth.”
With current price $ 63.64 (yesterday's close), this
raise brings their dividend yield to 5.34%.