DETROIT, Nov. 9, 2018 /PRNewswire/ -- The DTE Energy
Board of Directors declared a $0.945 per share dividend on its
common stock payable Jan. 15, 2019, to shareholders of record
at the close of business Dec. 17, 2018.
This is a $0.0625 per share − or
seven percent − increase from the previous quarterly dividend of
$0.8825 per share and reflects the
Board's confidence in the company's growth plans. The new
annualized dividend per share is $3.78, up from $3.53. This continues DTE Energy's consistent
dividend history, having issued a cash dividend for more than 100
years.
"This increase reflects the company's strong performance and
ability to consistently achieve our goals," said Gerry Anderson, DTE Energy Chairman and CEO.
"Over the past seven years, DTE Energy has provided average annual
dividend increases of more than six percent. The Board's approval
of the increase signals confidence in the company's performance and
long-term strategic plan."
In addition, DTE is maintaining its
targeted seven percent dividend growth through 2020 – higher
than the six percent average dividend increase over the past seven
years.
"We recognize the value of our long history of dividend growth
and the role it plays in delivering above-average shareholder
returns. We're confident in our growth
plan and our longer-term outlook is strong," Anderson
added.
About DTE Energy
DTE Energy (NYSE: DTE) is a Detroit-based diversified energy company
involved in the development and management of energy-related
businesses and services nationwide. Its operating units include an
electric utility serving 2.2 million customers in Southeastern Michigan and a natural gas
utility serving 1.3 million customers in Michigan. The DTE Energy portfolio includes
non-utility energy businesses focused on power and industrial
projects, natural gas pipelines, gathering and storage, and energy
marketing and trading. Information about DTE Energy is
available at dteenergy.com, twitter.com/dte_energy and
facebook.com/dteenergy.
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SOURCE DTE Energy