ALLETE, Inc. (ALE) Raises Quarterly Dividend 4.7% to $0.56, 3.1% Yield; Boosts Long-Term Growth Outlook

ALLETE, Inc. (NYSE: ALE) declared a quarterly dividend of $0.56 per share, or $2.24 annualized. This is a 4.7% increase from the prior dividend of $0.535.

The dividend will be payable on March 1, 2018, to stockholders of record on February 15, 2018, with an ex-dividend date of February 14, 2018.

The annual yield on the dividend is 3.1 percent.

“This increase is supported by ALLETE’s solid financial position and positions us for future dividend increases as financial performance from our non-regulated businesses is expected to accelerate after 2018,” said ALLETE Chairman, CEO and President Al Hodnik. “ALLETE is proud of its track record of returning value to its shareholders and this represents the 68th consecutive year of dividends on its common stock.”

Outlook

“Consistent with this dividend action and our broader confidence in our future growth, we are also upward revising our stated annual average long-term earnings growth outlook from a 'minimum of 5 percent' to a 'range of 5-7 percent,'” Hodnik said.

For a dividend history and other dividend-related data on ALLETE, Inc. (ALE) click here.

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