These days, it quite literally pays to be a shareholder of Edison International (NYSE:EIX), or its largest -- although not publicly traded -- subsidiary, Southern California Edison. The parent company has declared a fresh set of quarterly distributions, chiefly $0.3375 per share of its own common stock. This is to be dispensed on July 31 to shareholders of record as of June 28. The amount matches that of EI's previous two payouts, the most recent of which was handed down in March.
Southern California Edison shareholders, meanwhile, are also to receive dividends. Holders of the unit's 4.32% cumulative preferred stock are to receive a quarterly payout of $0.27 per share on June 30 if they possess their stock as of June 5. Series F share owners as of June 14 will also get a quarterly reward, to the tune of $35.15625 apiece, to be paid one day later, on the 15th. Series G holders will get an initial distribution of $48.166667 per share, with payment and record dates matching those of series F.
The patent company's current dividend annualizes to $1.35 per share. That yields 2.5% at Edison International's most recent closing stock price of $53.35.
Fool contributor Eric Volkman has no position in Edison International. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.