Welcome to our dedicated page for Edison Intl news (Ticker: EIX), a resource for investors and traders seeking the latest updates and insights on Edison Intl stock.
Edison International reports developments tied to its role as the parent company of Southern California Edison, a regulated electric utility serving approximately 15 million people through 5 million customer accounts across Central, Coastal and Southern California. Recurring news covers utility operations, financial results, customer affordability, grid resilience, wildfire mitigation and rebuilding efforts.
Company updates also include Southern California Edison wildfire recovery compensation programs, dividends on SCE preference stock and related trust preference securities, board and executive governance changes, and workforce initiatives such as lineworker training scholarships. The news flow centers on the regulated utility business, capital-provider communications, community recovery programs and service-area obligations.
Edison International (NYSE: EIX) has appointed Marcy L. Reed to its board of directors as of today. Reed brings over 30 years of experience in the electric utility sector, mainly from her tenure at National Grid plc, where she held significant roles, including president of the Massachusetts business. She has expertise in utility operations, energy policy, and sustainability. Her background is aligned with Edison International's clean energy strategy. Reed also serves on several boards, including Clean Harbors, Inc., and Blue Cross Blue Shield of Massachusetts.
The Board of Directors of Edison International (NYSE: EIX) has declared a quarterly common stock dividend of $0.70 per share, payable on April 30, 2022, to shareholders of record as of March 31, 2022. Additionally, a semi-annual dividend of $26.875 on Series A Preferred Stock and an initial dividend of $17.08333 on Series B Preferred Stock are to be paid on March 15, 2022. Other quarterly dividends include various amounts for Series G, H, J, K, L, and E preference stocks, all payable on March 15, 2022 and May 1, 2022.
Edison International (NYSE: EIX) reported its fourth quarter 2021 results, posting net income of $523 million, or $1.38 per share, slightly down from $526 million in 2020. Core EPS for the quarter was $1.16, down from $1.19, primarily due to increased operational costs. The company declared a quarterly dividend of $0.70 per share, maintaining a solid annualized rate of $2.80. For 2022, Edison International anticipates core EPS in the range of $4.40 to $4.70, with an expected long-term EPS growth rate of 5-7%. Full-year 2021 GAAP EPS reached $2.00.
Southern California Edison (EIX) has filed its 2022 update to the Wildfire Mitigation Plan with the California Office of Energy Infrastructure Safety. The plan aims to enhance grid safety and reliability against extreme weather exacerbated by climate change, with initiatives including the installation of insulated wiring. The company has reduced wildfire risks by 65-70% since 2018 and plans to spend approximately $1.66 billion in 2022 for continued improvements. SCE also explores innovative technologies like AI for wildfire detection and aims to support vulnerable communities during power shutoffs.
Southern California Edison is providing $205 million in relief to around 260,000 residential customers with past-due balances from March 4, 2020 to June 15, 2021. Customers will receive one-time credits on their February or March bills, funding through the California Arrearage Payment Program, which utilizes federal resources from the American Rescue Plan Act of 2021. Customers with balances over 60 days past due are automatically enrolled in 24-month payment plans, with additional assistance options available.
On February 10, the San Onofre Community Engagement Panel will host a briefing by Dr. Kimberly Petry from the Department of Energy regarding off-site consolidated interim storage for spent nuclear fuel. This session follows the DOE's announcement seeking public input on a consent-based siting process, which aims to find suitable locations for such facilities while prioritizing community involvement. Currently, 123 canisters of spent nuclear fuel are stored at San Onofre, hindering complete decommissioning. The DOE has received support for this initiative, including $20 million in funding for related activities.
Edison International (NYSE: EIX) announced its Fourth Quarter and Full-Year 2021 financial results on February 24, 2022. The conference call will occur from 1:30–2:30 p.m. PT, allowing investors to analyze their performance in detail. Key figures from the report are awaited, which could provide insights on earnings, revenues, and EPS. Investors can join the call using the specified numbers for U.S. and international callers. A replay will be available until March 10, 2022.
Southern California Edison is proposing a $677.2 million plan to install around 250,000 electric heat pumps across its service area, aimed at reducing greenhouse gas emissions and improving indoor air quality. If approved by the California Public Utilities Commission, this initiative will benefit approximately 81,000 installations for income-qualified customers. The program is projected to create over 100,000 jobs in California’s construction and energy sectors, while aligning with California’s carbon neutrality goals and addressing the GHG emissions gap.
Edison International (NYSE: EIX) has declared a quarterly common stock dividend of $0.70 per share, with a payment date of Jan. 31, 2022. This announcement marks an annual increase of $0.15, resulting in a new annual dividend rate of $2.80, a 5.66% rise from $2.65. This is the 18th consecutive year of dividend increases, reflecting management's confidence in achieving a long-term EPS growth target of 5 to 7%. A semiannual dividend of $31.25 on Series E preference stock is also declared, payable on Feb. 1, 2022.
Edison International (NYSE: EIX) has appointed Peter Taylor as the next independent chair of its board of directors, succeeding William P. Sullivan, who will retire in April 2022. Taylor, a board member since 2011, will officially take over during the Annual Meeting of Shareholders on April 28, 2022. Sullivan has served as the chair since 2016, contributing significantly to the company's focus on safety, diversity, equity, and inclusion, clean energy strategies, and wildfire risk mitigation. Taylor brings extensive experience in finance and leadership from various organizations.