Investor Presentation June 2021
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Growing our dividend
Annualized common stock dividend per share
$2.70
Dividend per share
$2.49
$2.50
$2.37
$2.25
$2.30
Dividend
payout ratio
$2.10
$2.10
$1.96
$1.90
$1.70
$1.50
$1.30
2016
2017
2018
Dividend
yield 3.5%2
$2.60¹
80%
70%
60%
50%
2019
2020
2021
• Annualized 2021 common stock dividend of $2.60 per share
Supported by our long-term earnings growth targets and conservative payout ratio
(target range of 55-65%)
18 consecutive years of increases; 76 years of continuous payment
Dividend payout ratio
Quarterly preferred stock dividend of $0.36875 declared, payable August 16, 2021
¹Quarterly dividend of $0.65 per share effective January 5, 2021, annualized.
2Based on $2.60 per share dividend and SR average stock price of $73.10 for the period March 1-May 14, 2021.
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