Prospectus excerpt: Southern California Gas Co., 6% Series Cumulative Preferred Stock, liquidation value $25 per share, not callable, and with no stated maturity. Distributions of 6.00% ($1.50) per annum are paid quarterly on 1/15, 4/15, 7/15 & 10/15. Dividends paid by this preferred security are eligible for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) and are also eligible for the dividends received deduction for corporate holders. Southern California Gas Co. is a wholly-owned subsidiary of Pacific Enterprises which in turn is a wholly-owned subsidiary of Sempra Energy (NYSE: SRE).
Sempra is a holding company. Through its subsidiaries, Co. has several segments, including: San Diego Gas & Electric Company, which is a regulated public utility that provides electric services in Southern California; Southern California Gas Company, which is a regulated public utility that owns and operates a natural gas distribution, transmission and storage system that supplies natural gas in Southern California and portions of central California; and Sempra Texas Utilities, which includes Oncor Electric Delivery Holdings Company LLC, a regulated electricity transmission and distribution utility that operates in the north-central, eastern, western and panhandle regions of Texas.