Welcome to our dedicated page for South Calif Gas news (Ticker: SOCGP), a resource for investors and traders seeking the latest updates and insights on South Calif Gas stock.
The news feed for STHN CAL GAS 6 A PR (SOCGP) focuses on developments at Southern California Gas Company (SoCalGas), the gas distribution utility whose preferred stock series includes SOCGP. SoCalGas describes itself as the largest gas distribution utility in the United States, serving more than 21 million consumers across approximately 24,000 square miles of Central and Southern California, and is a subsidiary of Sempra.
Investors following SOCGP can use this page to track SoCalGas news that may be relevant to the utility’s operations, regulatory environment, and community activities. Recent press releases include recurring announcements of regular quarterly dividends on SoCalGas preferred stock and Preferred Stock, Series A, which encompass the preferred series associated with SOCGP. These dividend declarations provide direct information on cash distributions approved by the SoCalGas board of directors for its preferred stockholders.
Beyond dividends, SoCalGas news highlights energy-efficiency programs, renewable natural gas procurement under California’s SB 1440, and community initiatives such as wildfire recovery support, small business assistance, hunger relief efforts, and STEM education partnerships. These updates illustrate how the company is engaging with regulatory programs, responding to climate and energy policy in California, and working with local organizations.
Because SoCalGas operates in a regulated environment overseen by the California Public Utilities Commission, company news often intersects with regulatory decisions and policy developments that can influence its long-term outlook. By reviewing the SOCGP news stream, readers can monitor official SoCalGas communications that may inform their understanding of the utility’s risk profile, strategic initiatives, and ongoing ability to support preferred stock dividends.
Southern California Gas Company (SoCalGas) has announced its regular quarterly dividends for preferred series stock. The board of directors declared dividends of $0.375 per share for both Preferred Stock and Preferred Stock, Series A. These dividends will be paid on October 15, 2024, to shareholders of record as of September 10, 2024. This announcement demonstrates SoCalGas's commitment to providing consistent returns to its preferred stockholders, maintaining its dividend policy despite potential economic uncertainties.
SoCalGas has awarded $314,000 in scholarships to 29 students in Central and Southern California through its Scholarship Program. The program offers $5,000 renewable scholarships for four-year university students, totaling $20,000 over four years, and $1,000 scholarships for community college and trade school students. Additionally, 28 previous recipients will have their scholarships renewed.
Since 2001, SoCalGas has awarded over $3.9 million to 2,355 students. The program evaluates candidates based on academic achievements, community involvement, financial need, and their understanding of sustainable energy in California. It aims to support students in STEM fields, finance, accounting, business administration, and various trades.
This initiative aligns with SoCalGas' ASPIRE 2045 Sustainability Strategy, which includes a $50 million investment over five years to advance diversity and work towards a carbon-neutral future.
Southern California Gas Co. (SoCalGas) and EVOLOH, an AEM electrolyzer technology developer, have concluded a joint research project aimed at reducing the capital costs of electrolyzer technology by about 25%. The project achieved a 15% increase in hydrogen production efficiency for EVOLOH's Nautilus™ series electrolyzer stack, also extending its equipment lifetime. This enhancement utilizes readily available materials and a roll-to-roll manufacturing process, enabling a shorter supply chain and lower production costs. The technology will be scaled up at EVOLOH's new manufacturing Center of Excellence in Massachusetts with a target of 3.75GW annual production by 2025 and 15GW by 2027. SoCalGas' RD&D Program funded the project and provided technical assistance.
Southern California Gas Co. (SoCalGas) has integrated 21 new Ford E-Transit electric vans into its fleet, marking a significant step toward its ASPIRE 2045 sustainability strategy. This move supports SoCalGas' target to replace 50% of its fleet with alternative fuel vehicles by 2025 and achieve a 100% zero-emissions fleet by 2035. As of the end of 2023, 38% of SoCalGas' fleet was powered by low- and zero-emission energy sources. The company is also collaborating with Ford and the Department of Energy to develop a hydrogen fuel cell F-550 prototype for real-world testing in 2025. To facilitate this transition, SoCalGas is expanding its EV charging infrastructure, aiming to install 1,500 chargers across 65 sites within the next two years. This effort highlights SoCalGas' leadership in sustainability among utilities, having previously received the Leading Private Fleet Award at the Advanced Clean Transportation Expo in 2022.
Southern California Gas Co. (SoCalGas) will assist Labor Community Services (LCS) by providing 100 volunteers to sort over 1.8 million pounds of food donations from the 32nd Annual National Association of Letter Carriers' (NALC) 'Stamp Out Hunger' Food Drive.
In addition to the manpower, SoCalGas will donate $25,000 to purchase groceries, potentially aiding around 1,000 families for up to five days. The 'Stamp Out Hunger' drive helps stock local food banks during the spring and summer when school meal programs aren't available.
SoCalGas has partnered with LCS since 2007, contributing significantly, including sorting 74,000 pounds of food in 2023, helping approximately 2,900 families. SoCalGas plans to invest $50 million in underserved communities over five years as part of their ASPIRE 2045 strategy.
Southern California Gas Company (SoCalGas) announced on May 30, 2024, that its board of directors has declared regular quarterly dividends for its preferred series stock. The dividend amount is set at $0.375 per share for both the preferred stock and Preferred Stock, Series A. These dividends will be payable on July 15, 2024, to shareholders who are on record as of June 10, 2024.
Southern California Gas Company (SoCalGas) has received the 'Organizational Leadership Award' from The Climate Registry at the Climate Leadership Conference for its ASPIRE 2045 sustainability strategy. This award recognizes SoCalGas' leadership in reducing greenhouse gas (GHG) emissions and addressing climate change. The company's initiatives include surpassing California's goal by reducing fugitive and vented methane emissions by 20% from a 2015 baseline by 2025, converting 38% of its fleet vehicles to alternative fuels, and aiming for a 100% zero emissions vehicle fleet by 2035. SoCalGas has also delivered 5% renewable natural gas to core customers in 2023, with a goal of 20% by 2030. SoCalGas has also received the 'Business Transformation Award' from Reuters Events and has been recognized for its clean hydrogen microgrid project.
SoCalGas announced that nonprofit organizations can apply for grants of up to $50,000 through the SoCal Climate Champions Grant Program. The initiative, which has awarded over $3 million since 2015, supports projects that reduce greenhouse gas emissions, improve air quality, or provide organic waste solutions. The application window runs from April 21 to June 21, with winners announced in October. Past recipients include the Orange County Conservation Corps and the Cal Poly Pomona Foundation, which used grants for climate resilience projects and energy storage systems. The program falls under SoCalGas's ASPIRE 2045 Sustainability Strategy, aiming for $50 million in community investments and a carbon-neutral future.
SoCalGas released its stand-alone chapter of parent company Sempra's 2023 Corporate Sustainability Report, showcasing its ASPIRE 2045 sustainability strategy aimed at achieving net-zero greenhouse gas emissions by 2045. The report highlights sustainability efforts such as methane emission reduction, green tariff enrollment, alternative fuel vehicle conversion, renewable natural gas delivery, energy efficiency programs, pipeline safety enhancements, diverse supplier spending, and community development initiatives. SoCalGas has been recognized for its sustainability goals and transformative efforts, earning awards for its innovative projects.
SoCalGas has been awarded the ENERGY STAR Partner of the Year award by the U.S. Environmental Protection Agency for the second year in a row. The utility was recognized for its dedication to energy efficiency, saving customers money, conserving energy, and transitioning to a net-zero emissions future. Through its programs, SoCalGas has saved customers millions of dollars, reduced greenhouse gas emissions, and helped households and businesses improve their energy efficiency.
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