Providing investors a return on their investment in the form of a common stock dividend or interest payment is critical to attracting capital to our business. Without outside investment, we could not effectively improve the electric system and enhance reliability for our customers. Debt holders and equity investors have almost $9.7 billion invested in PHI.
In 2013, PHI paid an annual dividend of $1.08 per share. The total common stock dividend payout we made was $270 million. PHI's dividend yield is higher than the average yield for Standard and Poor's 500 Electric Utilities. Dividend payments help support the financial viability of our investors and contribute to strengthening local economies.