Thursday, December 14th the Board of Directors of Edison International (EIX) announced a quarterly dividend increase of from $0.7375 to $0.78 per share that’s payable January 31, 2024 to holders of record December 29, 2023. This represents a 5.76% increase over the last quarterly dividend.
“Today’s 5.8% increase in our dividend reflects the board and management’s continued confidence and commitment to delivering 5% to 7% core EPS growth for 2021-2025 and 2025-2028. This marks the 20th 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 $69.76 (yesterday's close), this raise brings their dividend yield to 4.47%.
Edison International is a Dividend Contenders with a 20 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 5.7, 4.6, 5.2 and 8.0 (Dividend Champions.xls)
Since I own 70 shares of EIX, this will increase my portfolio's projected annual net dividend income by $8.34.
This increase was in line with my expectations and I am happy to accept it.
This is the fourth 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 $0.78, or 17.7%
This increase raises my YOC to 5.21%.
Summary of 2023 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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