Thursday, December 9th the Board of Directors of Edison International (NYSE) announced a quarterly dividend increase of from $ 0.66 to $ 0.70 per share that’s payable January 31, 2022 to holders of record December 31, 2021. This represents a 5.66% increase over the last quarterly dividend.
“I’m pleased that Edison International has increased its dividend for the 18th consecutive year. The approval of this 5.66% increase reflects the board and management’s continued confidence in the company’s 5 to 7% long-term EPS growth target,” said Pedro J. Pizarro, president and CEO of Edison International.
With current price $ 66.88 (yesterday's close), this raise brings their dividend yield to 4.19%.
Edison International is a Dividend Contenders with an 18 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 4.1, 5.5, 8.8 and 7.3 (Dividend Champions.xls)
Since I own 50 shares of EIX, this will increase my portfolio's projected annual net dividend income by $ 5.59.
The timing and amount of the increase was in line with my expectations.
This is the second dividend increase I received from Edison since initiating a position June 2021.
This increase raises my YOC to 4.85%.
Summary of 2021 Dividend Increases / Cuts
Click here to see my portfolio holdings.
You can follow the development of my dividends here.
Full Disclosure: Long EIX
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