Pinnacle West Capital Corporation (NYSE:PNW) to Issue Dividend Increase - $0.91 Per Share

Key Points

• Pinnacle West Capital Corporation announced a quarterly dividend increase to $0.91 per share, which is a 1.7% rise from the previous dividend of $0.90.
• The ex-dividend date is set for November 3rd, and shareholders will receive the dividend payment on December 1st.
• Pinnacle West Capital has a dividend payout ratio of 70.5%, with projected earnings of $4.53 per share for the next year, indicating the company can sustain its dividend payments.

Pinnacle West Capital Corporation (NYSE:PNW - Get Free Report) declared a quarterly dividend on Wednesday, October 22nd. Investors of record on Monday, November 3rd will be given a dividend of 0.91 per share by the utilities provider on Monday, December 1st. This represents a c) dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Monday, November 3rd. This is a 1.7% increase from Pinnacle West Capital's previous quarterly dividend of $0.90.

Pinnacle West Capital has a dividend payout ratio of 70.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Pinnacle West Capital to earn $4.53 per share next year, which means the company should continue to be able to cover its $3.58 annual dividend with an expected future payout ratio of 79.0%.

Pinnacle West Capital Trading Up 0.3%

NYSE:PNW opened at $92.53 on Thursday. The firm has a market cap of $11.05 billion, a PE ratio of 19.08, a price-to-earnings-growth ratio of 9.55 and a beta of 0.46. The stock has a fifty day moving average price of $89.68 and a 200 day moving average price of $90.74. Pinnacle West Capital has a 12-month low of $81.47 and a 12-month high of $96.50. The company has a current ratio of 0.52, a quick ratio of 0.37 and a debt-to-equity ratio of 1.25.

Pinnacle West Capital (NYSE:PNW - Get Free Report) last released its earnings results on Wednesday, August 6th. The utilities provider reported $1.58 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.58. Pinnacle West Capital had a return on equity of 8.45% and a net margin of 10.96%.The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same period last year, the business posted $1.76 earnings per share. Pinnacle West Capital's revenue was up 3.8% compared to the same quarter last year. Sell-side analysts anticipate that Pinnacle West Capital will post 5.13 earnings per share for the current fiscal year.

Pinnacle West Capital Company Profile

Pinnacle West Capital Corporation, through its subsidiary, provides retail and wholesale electric services primarily in the state of Arizona. The company engages in the generation, transmission, and distribution of electricity using coal, nuclear, gas, oil, and solar generating facilities. Its transmission facilities include overhead lines and underground lines; and distribution facilities consist of overhead lines and underground primary cables.

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