Pinnacle West Capital Corporation Enhances Shareholder Value
Pinnacle West Capital Corporation’s (NYSE: PNW) board has recently made an impactful decision to elevate the company’s quarterly dividend by approximately 1.7%. This increase translates to an additional 6 cents per common share on an annual basis. As a result, the indicated annual dividend will now stand at $3.58 per share, while the quarterly dividend has reached $0.895 per share. Shareholders will receive this declared dividend on December 2, following the record date of November 4.
Exciting Announcements for Investors
Alongside the dividend increase, Pinnacle West has also announced plans to reveal its third-quarter financial results for 2024. This earnings report is set to be disclosed just before the start of U.S. financial markets on November 6, ensuring that investors have timely access to crucial information.
Live Webcast and Conference Call Details
On the same day as the earnings release, at 11 a.m. ET (9 a.m. Arizona time), the management team will host a live webcast and a conference call. This session will cover the latest financial results, key updates, and overall developments within the company. For those interested in attending, the webcast will be accessible on the company's website and will remain available for replay for a period of 30 days.
Accessing the Conference Call
To participate in the live conference call via telephone, call (888) 506-0062 for U.S. participants or (973) 528-0011 for international callers and use the participant access code 952382. Following the call, a replay will be available until 11:59 p.m. ET on November 13, accessible at (877) 481-4010 within the U.S. and Canada, or (919) 882-2331 for international calls, requiring the replay passcode 51357.
About Pinnacle West Capital Corporation
Pinnacle West Capital Corp., based in Phoenix, is a prominent energy holding company, boasting consolidated assets exceeding $26 billion. With approximately 6,500 megawatts of generating capacity and a workforce of around 6,100 employees in Arizona and New Mexico, the company has significantly expanded its operations. Its principal subsidiary, Arizona Public Service, serves retail electricity to roughly 1.4 million homes and businesses across Arizona.
Company Outlook and Commitment
With a strong financial foundation and a commitment to enhancing shareholder value, Pinnacle West continues to make strategic decisions that benefit its investors. The recent announcement regarding the increase in dividends is a testament to the company’s robust financial health and commitment to maintaining strong returns for its shareholders.
Frequently Asked Questions
What is the new quarterly dividend for Pinnacle West?
The quarterly dividend has increased to $0.895 per share, amounting to an annual dividend of $3.58 per share.
When is the dividend payable?
The declared dividend is payable on December 2 to shareholders of record as of November 4.
When will the third-quarter results be announced?
The third-quarter results for 2024 will be released before the U.S. financial markets open on November 6.
How can investors access the conference call?
Investors can access the conference call by dialing (888) 506-0062 for U.S. callers or (973) 528-0011 for international participants. The access code is 952382.
What is the role of Arizona Public Service?
Arizona Public Service, a subsidiary of Pinnacle West, provides electricity service to approximately 1.4 million residential and business customers in Arizona.
