ALLETE Increases Quarterly Common Stock Dividend by 3.3 Percent to 47.5 Cents Per Share
January 23 2013 - 8:30AM
Business Wire
ALLETE, Inc. (NYSE: ALE) announced that its Board of Directors
has increased the quarterly dividend on the company’s common stock
to 47.5 cents per share.
“This increase reflects our confidence in ALLETE’s near-term
financial performance and long-term earnings outlook, and our
ongoing commitment to building value for shareholders,” said ALLETE
Chairman, President and CEO Al Hodnik. “ALLETE’s Board of Directors
recognizes the importance of dividends as part of total shareholder
return. We expect to continue paying an attractive dividend as we
execute our long-term growth strategy.”
The 3.3 percent increase results in the equivalent of a $1.90
per share annualized dividend. ALLETE’s regular quarterly dividend
is payable March 1 to common shareholders of record at the close of
business February 15, 2013.
ALLETE, Inc. is an energy company headquartered in Duluth, Minn.
ALLETE’s energy businesses include Minnesota Power, Superior Water,
Light & Power Co., BNI Coal, and ALLETE Clean Energy. More
information about the company is available at www.allete.com.
The statements contained in this release and statements that
ALLETE may make orally in connection with this release that are not
historical facts, are forward-looking statements. Actual results
may differ materially from those projected in the forward-looking
statements. These forward-looking statements involve risks and
uncertainties and investors are directed to the risks discussed in
documents filed by ALLETE with the Securities and Exchange
Commission.
Allete (NYSE:ALE)
Historical Stock Chart
From Jun 2024 to Jul 2024
Allete (NYSE:ALE)
Historical Stock Chart
From Jul 2023 to Jul 2024