Dividends4Life: Bigger Dividends and Climate Change Costs

Bigger Dividends and Climate Change Costs

Posted by D4L | Friday, July 12, 2013 | | 0 comments »

Utilities have been busy this week, making moves to maximize profit potential. With bigger dividends, Obama's new climate change policy, natural gas investments, and more, here's what you need to know to stay on top of your dividend stocks' latest moves. Consolidated Edison (NYSE: ED ) announced earlier this week that it plans to spend around $100 million extending its New York City natural gas infrastructure. The decision is based on a variety of factors but can be most directly linked to environmental regulation compliance and cheaper costs for both Con Ed and customers.

Edison International (NYSE: EIX ) isn't helping employment numbers this summer -- or this year, even. The utility announced Wednesday that it is laying off 1,100 workers as it begins its decommissioning of the San Onofre nuclear plant in California. After President Obama announced his latest climate change policy, utilities responded with an open letter via the Edison Electric Institute. Although the association of shareholder-owned electric companies agreed with many of the president's points, it stressed its concern over Obama's inclusion of existing power plants in future regulations. EEI President Tom Kuhn made clear that environmental policies geared toward existing plants should contain "achievable compliance limits and deadlines," should "minimize costs to customers," and should be "consistent with the industry's ongoing investments to transition to a cleaner generating fleet and enhanced electric grid."

Source: Motley Fool

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