Please review our note on forward-looking statements.

Building Resilience and Trust

Each day your company is laying the building blocks of resilience – in our finances, our operations and our workforce.

In 2022, we faced headwinds at our major subsidiary, Arizona Public Service Company (APS), resulting from the unfavorable rate case decision implemented in December 2021. In response, we committed to minimize shareholder impact during this financial reset by deferring equity issuances, managing costs and capital allocation, and sustaining dividend growth.

At the same time, our employees delivered strong service reliability to our customers and made extraordinary improvement in overall customer satisfaction, as reported by J.D. Power.

APS Customer Satisfaction Ranking

Every day, we are focused on the APS Promise – to do what is right for the people and prosperity of Arizona – earning our customers’ trust and building on a solid foundation shareholders can count on.

Annualized Dividends per Share