Sempra Energy, the parent of San Diego Gas & Electric, said its board of directors approved a 6 percent increase in the dividend on shares of the company’s common stock to $2.80 per share, on an annualized basis, from$2.64 per share.
The first quarterly installment of the new dividend, $0.70 per share, is payable April 15 to shareholders of record on March 27.
The increase was announced on Friday, after the close of financial markets in New York. The company’s stock was trading higher on Monday at over $110 per share.
Sempra, based in San Diego, is a Fortune 500 energy services holding company with 2013 revenues of more than $10.5 billion.
The Sempra Energy companies’ 17,000 employees serve more than 31 million consumers worldwide.
