Thursday, December 15, 2022

Dividend Increase - Edison International (EIX)



Thursday, December 8th the Board of Directors of Edison International (EIX) announced a quarterly dividend increase of from $ 0.70 to $ 0.7375 per share that’s payable January 31, 2023 to holders of record December 30, 2022. This represents a 5.36% increase over the last quarterly dividend.


“Today’s 5.4% increase in our dividend reflects the board and management’s continued confidence and commitment to delivering on the company’s 5% to 7% long-term EPS growth target. This marks the 19th consecutive annual increase in Edison International’s dividend, which delivers an attractive yield and remains a key component of the company’s total return proposition,” said Pedro J. Pizarro, president and CEO of Edison International.


With current price $ 67.16 (today's open), this raise brings their dividend yield to 4.39%.


Edison International is a Dividend Contenders with a 19 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 3.9, 3.1, 6.7 and 7.5 (Dividend Champions.xls)



Since I own 50 shares of EIX, this will increase my portfolio's projected annual net dividend income by $5.59.


This increase was in line with my expectations and I am happy to accept it.


This is the third dividend increase I received from EIX since initiating a position in in June 2021. During this period, the quarterly dividend has risen moderately from $0.6625 to $0.7375, or 11.3%


This increase raises my YOC to 5.11%.



Summary of 2022 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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