Edison International (EIX) will raise its quarterly dividend by 4.1 percent to $0.6375 per share. This marks the 16th consecutive annual dividend increase by electric power company.

The next dividend is payable on January 31, 2020, to shareholders of record on December 31, 2019. The indicated 2020 annual dividend rate will be $2.55 per share and yields 3.5% at a stock price of $72.69.

“The company’s top priority continues to be the safety of our customers, communities and employees as we move forward with our wildfire mitigation efforts through grid hardening, increased situational awareness and enhanced operational practices,” said Pedro Pizarro, president and CEO of Edison International. “Our wildfire mitigation work is a critical component to hardening our grid and ensuring reliability. We understand the importance of this today and in the future as electrification of the economy continues and customers rely even more on the grid.”

Pizarro added, “Because of this, Southern California Edison also continues to make significant investments in capital programs, including transportation electrification and grid resiliency, to enable affordable electricity and to support California’s clean energy goals. Our strong balance sheet provides us the flexibility to continue to make these significant investments while growing our dividend within our targeted payout ratio of 45% to 55% of SCE’s earnings.”

Edison International, through its subsidiaries, is a generator and distributor of electric power, as well as a provider of energy services and technologies, including renewable energy. Headquartered in Rosemead, Calif., Edison International is the parent company of electric utility Southern California Edison. EIX provides commercial and industrial customers with energy management and procurement services and distributed solar generation.  Edison Energy is independent from Southern California Edison. California Electric Power Company merged with and into Southern California Edison Company as of January 1, 1964. Southern California Edison Common Stock automatically became SCEcorp Common Stock on July 1, 1988. SCEcorp Common Stock automatically became Edison International Common Stock and began trading under the symbol "EIX" on February 5, 1996. The company restarted quarterly dividends in 2004 with a dividend history originally dating back to 1910.