SAN DIEGO - Energy infrastructure giant Sempra (NYSE: SRE) (BMV: SRE) has declared a quarterly dividend of $0.62 per share on its common stock, according to a statement released today. The dividend is set to be paid on July 15, 2024, to shareholders who are on record as of June 27, 2024.
Sempra, a prominent player in the North American energy sector, operates one of the continent's most extensive energy networks, providing power to nearly 40 million consumers. The company's operations span critical economic markets, including California, Texas, Mexico, and other global markets. Sempra's commitment to sustainable business practices and a high-performance culture emphasizing safety and operational excellence has earned it spots on the Dow Jones Sustainability Index North America and The Wall Street Journal's Best Managed Companies list.
The announcement of the dividend follows Sempra's pattern of regular shareholder returns and reflects the company's stable financial position. Dividends are a way for companies to distribute a portion of their earnings back to shareholders, and Sempra's consistent dividend payments highlight its commitment to shareholder value.
The information contained in this article is based on a press release statement from Sempra.
InvestingPro Insights
As Sempra (NYSE: SRE) announces its latest dividend, investors may find additional context in the company's financial data and analyst expectations. Sempra's market capitalization stands at a robust $48.65 billion, and it presents a price-to-earnings (P/E) ratio of 16.94. This valuation metric is closely aligned with the adjusted P/E ratio for the last twelve months as of Q1 2024, which is 16.99, suggesting a consistent valuation by the market.
The company's dedication to shareholder returns is further underscored by an impressive track record of dividend reliability. An InvestingPro Tip highlights that Sempra has raised its dividend for 13 consecutive years and has maintained dividend payments for 27 consecutive years. Moreover, the company's dividend yield as of the latest data point is 3.22%, with a dividend growth of 4.2% in the last twelve months as of Q1 2024, reinforcing its appeal to income-focused investors.
On the analyst front, Sempra is receiving optimistic outlooks, with 4 analysts having revised their earnings upwards for the upcoming period. This optimism is also reflected in the stock's performance, trading near its 52-week high and achieving a price total return of 12.27% in the past month. Investors can explore more insights, including 6 additional InvestingPro Tips, by visiting the dedicated page for Sempra at https://www.investing.com/pro/SRE. To enrich your investment analysis, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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