EX-Dividend Schedule: Sempra Energy Boosted its Dividend by 10%; Will Trade Ex-Dividend on March 22, 2018
LONDON, UK / ACCESSWIRE / March 21, 2018 / Active-Investors has a free review on Sempra Energy (NYSE: SRE) following the Company's announcement that it will begin trading ex-dividend on March 22, 2018. To capture the dividend payout, investors are required to purchase the stock a day prior to the ex-dividend date, that is by latest at the end of trading session on March 21, 2018. Active-Investors has initiated due-diligence on this dividend stock. Register with us for more free research including the one on SRE:
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Dividend Declared
On February 22, 2018, Sempra announced that its Board of Directors has approved an approximate 9% increase in the dividend on shares of the Company's common stock to $3.58 per share, on an annualized basis, from $3.29 per share.
The first quarterly installment of the new common stock dividend, $0.8950 per share, is payable April 15, 2018, to common stock shareholders of record as of March 23, 2018.
Sempra's indicated dividend represents a yield of 3.17%, which is considerably higher than the average dividend yield of 2.56% for the Utilities sector. This is the eighth consecutive year that Sempra has increased its common stock dividend, which has grown more than 40% since 2013.
Dividend Insight
Sempra has a dividend payout ratio of 64.5%, which denotes that the Company spends approximately $0.65 for dividend distribution out of every $1.00 earned. The dividend payout ratio reflects the amount a company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or to add to its cash reserves.
According to analysts' estimates, Sempra is forecasted to report earnings of $6.60 for the next year, which is considerably higher than the Company's annualized dividend of $3.58 per share.
As of December 31, 2017, Sempra's cash and cash equivalents totaled $288 million compared to $349 million as on December 31, 2016. For the year ended December 31, 2017, the Company's net cash provided by operating activities was $3.63 billion compared to $2.31 billion in the year ago same period. The Company's strong financial position indicates its ability to absorb any fluctuations in earnings and cash flow and to sustain its dividend distribution for a long period.
Recent Development for Sempra
On March 09, 2018, Sempra completed its $9.45 billion acquisition of Energy Future Holdings Corp. (EFH), including EFH's approximate 80% indirect ownership interest in Oncor Electric Delivery Company LLC (Oncor). The close of the transaction creates a utility holding company with the largest US customer base.
Oncor will remain headquartered in Dallas. Allen Nye, who has been serving as Oncor's senior vice president and general counsel, will become Oncor's CEO, succeeding Bob Shapard, who was appointed as Oncor's Chairman.
Sempra had entered into the agreement to acquire EFH on August 21, 2017. The Public Utility Commission of Texas approved Sempra and Oncor's joint Change-in-Control application on March 08, 2018. The US Bankruptcy Court for the District of Delaware provided its final approval in February 2018.
Headquartered in Dallas, Oncor is a regulated electric transmission and distribution service provider, made up of approximately 134,000 miles of lines and nearly 3.5 million advanced meters, making it the largest utility in Texas. Using cutting-edge technology, more than 3,900 employees work to safely maintain reliable electric delivery service to over 11 million Texans.
Stock Performance Snapshot
March 20, 2018 - At Tuesday's closing bell, Sempra Energy's stock declined 1.63%, ending the trading session at $110.60.
Volume traded for the day: 2.18 million shares.
Stock performance in the last month – up 1.46%; past twelve-month period – up 0.19%; and year-to-date – up 3.44%
After yesterday's close, Sempra Energy's market cap was at $28.03 billion.
Price to Earnings (P/E) ratio was at 24.78.
The stock has a dividend yield of 3.24%.
The stock is part of the Utilities sector, categorized under the Diversified Utilities industry.
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