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Edison International | 5.00% Trust Preference Securities (SCE.PRL)
Prospectus excerpt: SCE Trust VI, a Delaware statutory trust subsidiary of ours, will issue the 5.00% Trust Preference Securities, which we refer to herein as the ÙTrust Preference Securities.ˆ Each Trust Preference Security represents an undivided beneficial interest in the assets of SCE Trust VI. The only assets of SCE Trust VI will be the shares of our Series L Preference Stock, which have substantially the same payment terms as the Trust Preference Securities and which we refer to herein as the ÙSeries L Preference Shares.ˆ SCE Trust VI can make distributions on the Trust Preference Securities only if we make dividend payments on the Series L Preference Shares. We will pay dividends on the Series L Preference Shares when, as, and if declared by our board of directors or a duly authorized committee of the board. Distributions on the Trust Preference Securities will be payable quarterly, in arrears, on March 15, June 15, September 15 and December 15 of each year, beginning on September 15, 2017. From and including June 26, 2017, distributions will accrue and be payable at a rate of 5.00% per annum, payable beginning on September 15, 2017 (short first distribution period). SCE Trust VI will pay distributions on the Trust Preference Securities only from the proceeds, if any, of dividends it receives from us on the Series L Preference Shares. Distributions on the Trust Preference Securities, and dividends on the Series L Preference Shares, will be cumulative from June 26, 2017. Full Prospectus PDF », Secondary Prospectus PDF », EIX Page »
Series: | L | Alternate symbology: | SCE-L, SCE-PL, SCEprL | Redeemable?: | Yes | Call Date: | 6/26/2022 (Now Trading Post Call Date) | Perpetual?: | Yes | Cumulative?: | Yes | Shares Offered: | 19,000,000 | Liquidation Preference: | $25.00 | Recent Market Price: | $19.46 | Discount to Liquidation Preference: (More Preferreds Trading at a Discount ») | $-5.54 (-22.16%) | Annualized Dividend: | 1.25 | Recent Ex-Date: | 3/13/2024 | Current Yield: | 6.42% | Original Coupon: | 5.00% | Pay Period: | Quarterly | Pay Dates: | 15-Mar, 15-Jun, 15-Sep, 15-Dec | CDx3 Compliance Rating: |
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Edison International is a holding company. Through its subsidiary, Southern California Edison Company (SCE), which is an investor-owned public utility, Co. is engaged in the business of supplying and delivering electricity to southern California. Co.'s other subsidiary, Edison Energy, LLC, is engaged in the business of providing integrated decarbonization and energy solutions to commercial, institutional and industrial customers. SCE supplies electricity to its customers through transmission and distribution networks. Its transmission facilities, which are located primarily in California but also in Nevada and Arizona, deliver power from generating sources to the distribution network. Preferreds: SCE.PRB, SCE.PRC, SCE.PRD, SCE.PRE, SCE.PRF, SCE.PRG, SCE.PRH, SCE.PRJ, SCE.PRK, SCE.PRL, SCEM Open the EIX Information Page »
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Name: |
Edison International |
Website: |
www.edison.com |
Sector: |
Electric Utilities |
Number of ETFs Holding EIX: |
113 (see which ones) |
Total Market Value Held by ETFs: |
$5,183,290,013.68 |
Total Market Capitalization: |
$25,269,000,000 |
% of Market Cap. Held by ETFs: |
20.51% |
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