ALLETE Board of Directors Raises Quarterly Common Stock Dividend
January 22 2016 - 6:30AM
Business Wire
ALLETE, Inc. (NYSE:ALE) today announced that its Board of
Directors has increased the quarterly dividend on the company’s
common stock to 52 cents per share, an increase of 3 percent.
“This increase is supported by ALLETE’s solid financial position
and continues our long history of returning value to shareholders,”
said ALLETE Chairman, CEO and President Al Hodnik. “ALLETE’s Board
of Directors is committed to a sustainable dividend that allows for
future increases.”
On an annual basis, the increased dividend is equivalent to
$2.08 per share. The regular quarterly dividend is payable March 1
to common shareholders of record at the close of business February
16, 2016.
ALLETE is an energy company headquartered in Duluth,
Minn. In addition to its electric utilities, Minnesota
Power and Superior Water, Light and
Power of Wisconsin, ALLETE owns ALLETE Clean
Energy, based in Duluth, U.S. Water Services headquartered
in St. Michael, Minn., BNI Energy in Center, N.D.,
and has an eight percent equity interest in the American
Transmission Co. More information about ALLETE is
available at www.allete.com. ALE-CORP
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20160122005085/en/
ALLETE, Inc.Investor Contact:Vince Meyer,
218-723-3952vmeyer@allete.com
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