Pinnacle West Capital Corporation's board of directors voted to increase the company's quarterly dividend by approximately 1.7%. This action translates to an annual increase of 6 cents per common share. The new indicated annual dividend will be $3.58 per share.
The quarterly dividend will now be $0.895 per share. This increased dividend is payable on December 2, 2024, to shareholders of record at the close of business on November 4, 2024. This marks a positive return to shareholders.
The dividend increase reflects the company's commitment to providing shareholder value. It also signals confidence in the company's financial health and future cash flow generation, despite ongoing investments in infrastructure.
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