San Diego Business Journal

Sempra Energy, a San Diego-based energy and utility holding company, reported net income of $242 million, or 92 cents per diluted share, on revenue of $3.27 billion in the first quarter.

The company reported its earnings before the market opened May 2.

One year ago, Sempra reported net income of $228 million, or 86 cents per diluted share, on revenue of $3 billion.

The company says it has started to buy back $1 billion worth of stock, and plans to increase its annual dividend from $1.28 to $1.40.

The company trades on the New York Stock Exchange as SRE. Shares stood at $58.32 in midday trading May 2, up $1.44 from the previous close.

, Brad Graves