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Edison International raises annual dividend rate by 11.5%

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Edison International raises annual dividend rate by 11.5%

Edison International raised its annual dividend rate by 11.5% to $2.42 per share from $2.17 per share, according to a Dec. 7 release.

The resulting quarterly common stock dividend of 60.5 cents per share is payable Jan. 31, 2018, to shareholders of record Dec. 29.

With this action, the company is "taking another meaningful step in raising our dividend towards the upper end of our target payout ratio of 45 to 55 percent of [Southern California Edison Co.] earnings for Edison International," said Pedro Pizarro, president and CEO of Edison International.