Thursday, December 12th the Board of Directors of Edison International (EIX) announced a quarterly dividend increase of from $0.78 to $0.8275 per share that’s payable January 31, 2025 to holders of record January 7, 2025. This represents a 6.09% increase over the last quarterly dividend.
“The dividend increase reflects the confidence of our board and management in our company’s financial future in tandem with our commitment to achieving our long-term EPS growth target of 5% to 7%,” said Pedro Pizarro, president and CEO of Edison International.
With current price $78.26 (yesterday's close), this raise brings their dividend yield to 4.23%.
Edison International is a Dividend Contenders with a 21 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 5.4, 5.0, 4.0 and 8.1 (DividendChampions.xls)
Since I own 70 shares of EIX, this will increase my portfolio's projected annual net dividend income by $9.91.
I was expecting an increase of around 5%, so the announcement was a pleasant positive surprise.
This is the fifth 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 $0.8275, or 24.9%
This increase raises my YOC to 5.52%.
Summary of 2024 Dividend Increases / Cuts
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You can follow the development of my dividends here.
Full Disclosure: Long EIX
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