On Wednesday, October 22nd, Pinnacle West Capital Corporation (PNW) announced that its Board of Directors approved a quarterly dividend increase from $0.895 to $0.91 per share. The dividend is payable on December 1, 2025, to shareholders of record as of November 3, 2025. This represents a 1.68% increase over the last quarterly dividend.
At the current price of $92.56 (yesterday's close), this increase will raise PNW's dividend yield to 3.93%.
Pinnacle West Capital Corporation is a Dividend Contenders with a 13 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 1.7, 1.9, 3.4 and 4.4 (Dividend Champions.xls)
As an owner of 65 shares of PNW, the recent dividend increase adds $2.91 to my projected annual net dividend income.
I had anticipated dividend growth of around 3%, so this announcement came in slightly below my expectations. Nevertheless, an increase is always welcome, and I appreciate the company’s continued commitment to rewarding shareholders.
This marks the fifth dividend increase I’ve received from Pinnacle West Capital since initiating my position in September 2020. Over that period, the company’s quarterly dividend has increased modestly from $0.83 to $0.91 per share, representing a cumulative growth of 9.6%.
As of this writing, PNW represents approximately 0.69% of my portfolio by weight and contributes around 0.66% to my projected annual dividend income.
Following this increase, my yield on cost is 5.01%.
Summary of 2025 Dividend Increases / Cuts
Click here to see my portfolio holdings.
You can follow the development of my dividends here.
Full Disclosure: Long PNW
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