San Diego-based utility company Sempra Energy announced Thursday its board of directors approved a 9 percent increase in the annual dividend.
The new dividend is $3.29 per share of common stock, compared to $3.02 per share. The first quarterly installment of the new dividend is payable April 15 to shareholders of record on March 23.
The company has been steadily increasing its dividend since 2011, when the annual payout stood at $1.56.
Sempra Energy, the parent company of San Diego Gas & Electric, is a $10 billion company with 17,000 employees worldwide.