Pinnacle West Raises Quarterly Dividend 1.6% to $0.925 Per Share

Pinnacle West Capital Corporation’s board approved a 1.6% increase in its quarterly dividend, lifting the payout to $0.925 per share and setting an indicated annual rate of $3.70.

The board acted Oct. 21. The new quarterly rate is $0.015 above the previous $0.91, while the annualized payout rises by 6 cents. Shareholders of record at the close of business Nov. 2 are scheduled to receive the payment Dec. 1.

The Phoenix-based parent operates Arizona Public Service, its primary utility, which delivers power to about 1.5 million residential and business customers in Arizona.

Pinnacle West plans to release third-quarter results before U.S. markets open Nov. 3. A webcast and conference call are scheduled for 11 a.m. ET (16:00 UTC) that day.