Pinnacle West Capital hikes dividend by 1.8%

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On October 20, 2021, Pinnacle West Capital Corporation’s (PNW) board of directors voted  to raise the Company’s dividend by 1.8 percent, or 6 cents per common share annually. This action will result in an indicated annual dividend of $3.46 per share – or $0.865 per share quarterly. The declared quarterly dividend is payable Dec. 1, 2022, to shareholders of record at the close of business Nov. 1, 2022.

This will mark 10 straight years of dividend growth by PNW. The new dividend yield is 5.4% at a stock price of $64.18 for Pinnacle West.

Pinnacle West Capital Corp is an energy holding company based in Phoenix. The company operates through regulated electricity segment, which consists of traditional regulated retail and wholesale electricity businesses and related activities, and includes electricity generation, transmission and distribution. Through its principal subsidiary, Arizona Public Service (APS), the company provides retail electricity service to homes and businesses in Arizona. Pinnacle West’s other principal subsidiary Bright Canyon Energy focuses on new growth opportunities that leverage PNW’s core expertise in the electric energy industry.

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