By Stephen Nakrosis
Pinnacle West Capital said its board voted to increase the company's quarterly dividend to 89.5 cents per share, from 88 cents.
The new dividend, $3.58 on an annual basis, is payable on Dec. 2 to shareholders of record at the close of business on Nov. 4, the energy holding company said.
The new dividend represents a yield of about 4% based on the $89.31 closing price of the company's shares on Wednesday.
In October 2023, the company raised its dividend to 88 cents per share from 86.5 cents.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
October 23, 2024 17:34 ET (21:34 GMT)
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