We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
PG&E Corporation (PCG) Increases Annual Dividend by 7.7%
Read MoreHide Full Article
PG&E Corporation (PCG - Free Report) announced that its board of directors has approved an increase in the quarterly dividend rate by 3.5 cents, bringing the annualized payout to $1.96 per share, up 7.7% from $1.82 paid earlier.
The raised quarterly dividend will amount to 49 cents per share from the prior payment of 45.5 cents. This amount will be paid on Jul 15, 2016 to shareholders of record at the close of business on Jun 30.
This marks the first annual dividend hike by PG&E Corp. in the past six years. It reflects the company’s successful attempt to take the dividend amount to a competitive level.
The current annualized dividend yield is 3.3%. PG&E Corp. aims to attain a payout ratio of 55–65% and about 60% by 2019.
PG&E Corp. boasts a stable liquidity position, along with strong cash generating capacity, through operating activities. As of Mar 31, 2016, the company had cash and cash equivalents of $142 million, up from $123 million at 2015 end. The company’s operating cash flow at the end of the first quarter was around $1.1 billion.
Apart from its investments in growth projects, a stable financial position allows PG&E Corp. to pay regular dividends. In the first quarter, the company distributed $219 million as common stock dividends, up 3.8% from the year-ago level. Consistent performance and robust cash flow generation capability enables the company to continue paying dividends to its shareholders.
Currently, PG&E Corp. has a Zacks Rank #3 (Hold).
Stocks to Consider
A few better-ranked stocks in the utility space include Spark Energy, Inc. , Avista Corp. (AVA - Free Report) and CenterPoint Energy, Inc. (CNP - Free Report) . While Spark Energy sports a Zacks Rank #1 (Strong Buy), both Avista Corp. and CenterPoint Energy carry a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
PG&E Corporation (PCG) Increases Annual Dividend by 7.7%
PG&E Corporation (PCG - Free Report) announced that its board of directors has approved an increase in the quarterly dividend rate by 3.5 cents, bringing the annualized payout to $1.96 per share, up 7.7% from $1.82 paid earlier.
The raised quarterly dividend will amount to 49 cents per share from the prior payment of 45.5 cents. This amount will be paid on Jul 15, 2016 to shareholders of record at the close of business on Jun 30.
This marks the first annual dividend hike by PG&E Corp. in the past six years. It reflects the company’s successful attempt to take the dividend amount to a competitive level.
The current annualized dividend yield is 3.3%. PG&E Corp. aims to attain a payout ratio of 55–65% and about 60% by 2019.
PG&E Corp. boasts a stable liquidity position, along with strong cash generating capacity, through operating activities. As of Mar 31, 2016, the company had cash and cash equivalents of $142 million, up from $123 million at 2015 end. The company’s operating cash flow at the end of the first quarter was around $1.1 billion.
Apart from its investments in growth projects, a stable financial position allows PG&E Corp. to pay regular dividends. In the first quarter, the company distributed $219 million as common stock dividends, up 3.8% from the year-ago level. Consistent performance and robust cash flow generation capability enables the company to continue paying dividends to its shareholders.
Currently, PG&E Corp. has a Zacks Rank #3 (Hold).
Stocks to Consider
A few better-ranked stocks in the utility space include Spark Energy, Inc. , Avista Corp. (AVA - Free Report) and CenterPoint Energy, Inc. (CNP - Free Report) . While Spark Energy sports a Zacks Rank #1 (Strong Buy), both Avista Corp. and CenterPoint Energy carry a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>