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 (NYSE: EIX) news covers developments at one of the nation’s largest electric utility holding companies and its key subsidiaries. The company is headquartered in Rosemead, California and focuses on providing clean and reliable energy and energy services through Southern California Edison and Trio. Southern California Edison delivers electricity to approximately 15 million people via about 5 million customer accounts in a 50,000-square-mile service area across Southern, Central and Coastal California, while Trio provides sustainability and energy advisory services to large organizations in North America and Europe.
News about Edison International often includes financial and capital markets updates, such as quarterly earnings results, guidance discussions, and details of tender offers or redemptions for preferred stock and trust preference securities. Recent press releases describe cash tender offers for fixed-rate reset cumulative perpetual preferred stock, term loan arrangements, and actions related to trust preference securities issued by SCE-related trusts.
Another important category of EIX news involves regulatory and legislative developments. Company communications highlight decisions by the California Public Utilities Commission on cost of capital and general rate cases, wildfire-related cost recovery proceedings, and legislative measures like California Senate Bill 254 and Assembly Bill 1054 that affect wildfire liability and financial stability for investor-owned utilities.
Investors and observers can also find community and corporate responsibility stories, such as announcements about the Edison Scholars STEM scholarship program and tributes to influential company leaders who contributed to California’s energy policy and clean energy movement.
This news page aggregates these types of updates so readers can follow Edison International’s financial disclosures, regulatory milestones, capital structure actions, and community initiatives in one place.
The Board of Directors of Edison International (NYSE: EIX) declared a quarterly common stock dividend of $0.6625 per share. This dividend will be payable on July 31, 2021, to shareholders of record as of July 6, 2021. Edison International is one of the largest electric utility holding companies in the U.S., providing clean energy through its subsidiaries, including Southern California Edison, which serves approximately 15 million customers in California.
Southern California Edison (EIX) has completed upgrades to the West of Devers transmission lines, enhancing capacity to deliver over 7,000 MW of renewable energy to Southern California. The project, costing $740 million, increased power delivery capacity from 1,600 MW to 4,800 MW and is crucial for meeting peak summer demand. SCE partnered with Morongo Transmission for part of the funding, with $400 million expected post-regulatory approval. This project was completed ahead of schedule, emphasizing SCE’s commitment to advancing California’s clean energy goals.
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Southern California Edison is funding nearly $18 million to lease three helicopters for local firefighting agencies, enhancing wildfire response capabilities. The aircraft, which include two Coulson-Unical CH-47 helitankers and a Sikorsky-61 helitanker, will be operational from June 15 to year-end across a 50,000-square-mile service area. This initiative follows a significant 2020 fire season and marks an ongoing commitment to wildfire mitigation. The Los Angeles County, Orange County, and Ventura County Fire Departments will manage the helicopters upon board approval.
Edison International (NYSE: EIX) reported a net income of $259 million ($0.68 per share) for Q1 2021, up from $183 million ($0.50 per share) in Q1 2020. Core earnings also rose to $301 million ($0.79 per share) compared to $228 million ($0.63 per share) the previous year. The increase is attributed to lower wildfire mitigation expenses. SCE anticipates enhancing fire risk management and infrastructure investments amid the transition to a clean energy economy. 2021 earnings guidance will be provided post CPUC's decision on Southern California Edison’s rate case.
Southern California Edison is promoting its Medical Baseline program to assist eligible customers who depend on electricity for essential medical equipment. The program allows these customers to receive additional electricity at lower rates, ultimately helping them reduce their energy bills. Simplified online qualification processes due to COVID-19 will remain in effect until June 30, and existing participants are not required to recertify for another year. The program also offers backup battery solutions for those in high fire risk areas, ensuring critical support during outages.
The Board of Directors of Southern California Edison declared quarterly and semiannual dividends on various preference stocks. The quarterly dividends include:
- $0.31875 on Series G
- $0.359375 on Series H
- $0.3359375 on Series J
- $0.340625 on Series K
- $0.3125 on Series L
These are payable on June 15, 2021, to shareholders of record on June 14, 2021. Additionally, a semiannual dividend of $31.25 per share on Series E will be paid on August 1, 2021, to shareholders of record on July 2, 2021.
The Hershey Company (NYSE: HSY) has announced two significant clean energy partnerships aimed at transitioning to renewable energy. The first project, a 20 MW solar farm in Camden, North Carolina, will reduce CO2 emissions by 32,025 metric tons annually. The second project involves a 50 MW solar power agreement with National Grid Renewables for the Noble Project in Texas, projected to lower CO2 emissions by approximately 83,625 metric tons per year. Together, these projects will decrease Hershey's carbon footprint by 115,650 metric tons annually, aligning with their goals to cut greenhouse gas emissions by over 50% by 2030.
In 2021, Edison International will award $1.2 million in scholarships to thirty high school seniors in its service area as part of the Edison Scholars Program, supporting STEM education. Each student will receive $40,000 over four years to attend accredited U.S. colleges. Since its inception in 2006, the program has distributed over $12 million to 700 students. Funded entirely by shareholders, the initiative does not use customer utility payments. A virtual reception will celebrate the scholars on May 21, 2021.
Edison International (NYSE: EIX) is set to release its First Quarter 2021 Financial Results on April 27, 2021, from 1:30 to 2:30 p.m. Pacific Time. Investors can access the event via a live conference call and webcast, with playback options available until May 11, 2021. The company, headquartered in Rosemead, California, is a leading electric utility provider serving approximately 15 million customers in California through its subsidiary Southern California Edison Company. Edison International emphasizes its commitment to clean and reliable energy.
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