Sempra Energy Affirms FY20 Outlook, Boosts Dividend 8% - Quick Facts

(RTTNews) - While reporting financial results for the fourth quarter on Thursday, energy infrastructure company Sempra Energy (SRE) affirmed its earnings and adjusted earnings guidance for the full-year 2020, and initiated earnings outlook for the full-year 2021. The company also increased its common stock dividend by 8 percent. For fiscal 2020, Sempra Energy continues to project earnings in a range of $12.78 to $14.26 per share, including the estimated gain on the sale of the company's South American businesses, and adjusted earnings in a range of $6.70 to $7.50 per share.

On average, 18 analysts polled by Thomson Reuters expected the company to report earnings of $7.14 per share for the year. Analysts' estimates typically exclude special items.

Looking ahead to fiscal 2021, the company now projects earnings in a range of $7.50 to $8.10 per share.

Earlier this week, Sempra Energy's board of directors approved an 8 percent increase to the company's dividend, to $4.18 per common share from $3.87 per common share, on an annualized basis.