Pinnacle West Keeps Dividend Steady
Utility operator Pinnacle West Capital announced yesterday its third-quarter dividend of $0.545 per share, the same rate it's paid for the past three quarters after raising the payout 4% from $0.525 per share.
The board of directors said the quarterly dividend is payable on Sept. 3 to the holders of record at the close of business on Aug. 1. The utility operator has made quarterly payouts to investors since 1997.
The regular dividend payment equates to a $2.18-per-share annual dividend, yielding 4% based on the closing price of Pinnacle West Capital's stock on June 19.
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