EXC vs SRE: Dividend Comparison
Dividend data as of
Exelon Corp (EXC) and Sempra (SRE) are both in the Utilities sector, making them natural rivals for dividend investors. EXC edges ahead on yield at 3.54% versus SRE's 2.85%. For dividend growth, EXC leads with a 5-year CAGR of 10.0% versus SRE's 4.1%. EXC holds the edge in dividend safety with a "Safe" rating. SRE is a Dividend Contender with 15 years of consecutive increases.
Verdict
Yield Analysis
EXC yields 0.69% more than SRE. In dollar terms, EXC pays $1.58/share vs SRE's $2.56/share annually.
Dividend Growth
EXC: Dividend growth is slowing — the 3-year CAGR of 5.4% trails the 5-year rate of 10.0% and the 10-year rate of 10.0%.
SRE: Dividend growth has been steady, with a 3-year CAGR of 4.1% and a 5-year CAGR of 4.1% (10-year: 6.1%).
Dividend Safety
EXC: The payout ratio of 57% is well within sustainable levels, leaving room for future increases. Earnings cover the dividend 1.8x.
SRE: The payout ratio of 79% is moderate. The dividend is currently covered by earnings but leaves less room for growth. Earnings cover the dividend 1.3x.
Estimated Annual Dividend Income
Based on current dividend yields. Actual income may vary.
What does $10,000 buy in EXC vs SRE today?
At $48.38 per share, $10,000 buys about 206.7 shares of Exelon Corp (EXC). Each share pays $1.58 per year in dividends, so the position starts out generating roughly $327 per year — about $27 a month.
At $94.71 per share, $10,000 buys about 105.6 shares of Sempra (SRE). Each share pays $2.56 per year in dividends, so the position starts out generating roughly $270 per year — about $22 a month.
EXC is the larger income stream from day one: $57 per year more on the same $10,000 invested.
What could $10,000 of EXC or SRE income look like in 10 years?
Exelon Corp (EXC) has raised its dividend about 10.0% a year over the past five years. If that pace held, the $354 per year that $10,000 generates today at the current 3.54% yield would reach $918 per year by 2036 — a 9.2% yield on the original cost.
Sempra (SRE) has raised its dividend about 4.1% a year over the past five years. If that pace held, the $285 per year that $10,000 generates today at the current 2.85% yield would reach $424 per year by 2036 — a 4.2% yield on the original cost.
On those trailing rates, EXC pays more in 2036: $918 versus $424 per year. The projection assumes each five-year growth rate persists and no dividends are reinvested — real payouts will differ.
When would SRE's dividend growth overtake EXC's higher yield?
It doesn't, on the trailing numbers. Exelon Corp (EXC) yields more today (3.54% vs 2.85%) and has also grown its dividend at least as fast (10.0% vs 4.1% a year over five years). Unless SRE accelerates its raises or EXC stumbles, SRE never closes the income gap — EXC wins on both current income and growth.
Can EXC and SRE afford their dividends?
Exelon Corp (EXC) earns $2.79 per share against $1.58 paid out in dividends — 1.8x coverage (a 57% payout ratio).
Sempra (SRE) earns $3.25 per share against $2.56 paid out in dividends — 1.3x coverage (a 79% payout ratio).
EXC's wider coverage leaves more cushion if earnings dip. As a rule of thumb, coverage below about 1.5x (a payout ratio above ~65%) is where a dividend starts to look stretched — worth watching for SRE if earnings weaken.
Which fits an early-retirement income portfolio better, EXC or SRE?
For income you need right now, Exelon Corp (EXC) leads: $100,000 invested today pays about $295 a month at the current 3.54% yield, versus $237 a month from Sempra (SRE) at 2.85%.
EXC also leads on dividend growth (10.0% vs 4.1% a year over five years), so the trailing numbers favor it on both fronts.
On consistency: EXC has raised its dividend 4 consecutive years; SRE has raised its dividend 15 consecutive years.
Many income investors simply hold both — the mix pairs current yield with growth and spreads single-name risk. Whichever way you lean, dividends are never guaranteed; recheck the payout each quarter rather than setting and forgetting.
$10,000 with DRIP: projected annual income
If each holding keeps raising its dividend at its real 5-year rate and every payment is reinvested, a $10,000 position pays $1,300/yr in EXC vs $562/yr in SRE by year 10.
Assumes dividends are reinvested at the current yield and grow at each holding's trailing 5-year dividend CAGR. A projection, not a prediction — no price appreciation modeled.
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