SCE Trust VIII
SCE-PN
New York Stock Exchange- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- CEO
- Steven D. Powell
- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 2244 Walnut Grove Avenue Rosemead CA United States of America 91770
- IPO Date
- May 16, 2024
- CIK
- 0000092103
- Similar Companies
- Business
- SCE Trust VIII (NYSE: SCE-PN) operates as a Delaware statutory trust established as a subsidiary of Southern California Edison Company (SCE), an investor-owned electric utility serving approximately 15 million people across a 50,000-square-mile area in central, coastal, and southern California. The trust's sole purpose is to issue and administer 6.95% Cumulative Trust Preference Securities with a liquidation amount of $25 per security, which represent undivided beneficial ownership interests in the trust's assets consisting exclusively of SCE's Series N Preference Shares having substantially identical payment terms; these securities provide quarterly cumulative distributions at a fixed rate of 6.95% per annum from May 13, 2024, payable on March 15, June 15, September 15, and December 15, funded solely from dividends received on the underlying Series N Preference Shares when declared by SCE's board. The Trust Preference Securities rank equally with other SCE preference stock series (such as E, G, H, J, K, L, and M), senior to common stock but junior to SCE's secured and unsecured debt and any cumulative preferred stock; they lack a maturity date but are redeemable at SCE's option on or after May 13, 2029 at 100% of liquidation preference plus accrued dividends, or earlier in whole upon specified tax, investment company, or rating agency equity credit changes, with listing on the New York Stock Exchange under "SCE PR N." SCE fully and unconditionally guarantees the Trust Preference Securities on a subordinated basis to the extent funds are available to the trust for payments, while also covering the trust's expenses; holders benefit from a direct action right against SCE equivalent to a 1/100th interest in Series N Preference Shares per Trust Preference Security. Headquartered in Rosemead, California, aligning with SCE's principal executive offices (P.O. Box 800, Rosemead, CA 91770), the trust was formed specifically for this securities issuance on or about May 7, 2024, with initial public offering proceeds of $350 million used by SCE to redeem its higher-cost 9.787% Series E Preference Stock. Distributions qualify as qualified dividend income for non-corporate U.S. holders and are eligible for the dividends-received deduction for corporate holders, subject to limitations. In recent developments, SCE Trust VIII's Trust Preference Securities commenced trading on the NYSE following their May 13, 2024 issuance, with ongoing quarterly distributions including an ex-dividend date of December 12, 2025 at $0.43438 per share. SCE, the parent entity, initiated a cash tender offer in November 2025 through SCE Trust V (a separate subsidiary trust) to repurchase all outstanding 5.45% Fixed-to-Floating Rate Trust Preference Securities at $25 per $25 liquidation amount plus accrued distributions, expiring December 19, 2025, reflecting ongoing capital structure management. No further acquisitions, partnerships, funding rounds, or operational changes specific to SCE Trust VIII have been reported within the last 1-2 years, as the trust maintains a passive holding structure focused on its singular asset.