MGE Energy Increases Dividend for 48th Consecutive Year
August 18 2023 - 12:31PM
Business Wire
The board of directors of MGE Energy, Inc. (Nasdaq: MGEE), today
increased the regular quarterly dividend rate approximately 5% to
$0.4275 per share on the outstanding shares of the company's common
stock. The dividend is payable Sept. 15, 2023, to shareholders of
record Sept. 1, 2023. This raises the annualized dividend rate by 8
cents from $1.63 per share to $1.71 per share.
"We continue to move forward in our clean energy transition to
provide our customers safe, reliable and affordable clean energy.
Today's action by our board demonstrates the continued strength and
resilience of MGE Energy's long-term business strategy in building
your community energy company for the future," said Chairman,
President and CEO Jeff Keebler. "For nearly half a century, our
board has taken action to increase the dividend and to reinforce
the importance of dividend growth to the overall shareholder value
proposition by providing regular, predictable, sustainable
dividends."
MGE Energy has increased its dividend annually for the past 48
years and has paid cash dividends for more than 110 years.
About MGE Energy
MGE Energy is a public utility holding company. Its principal
subsidiary, Madison Gas and Electric (MGE), generates and
distributes electricity to 161,000 customers in Dane County, Wis.,
and purchases and distributes natural gas to 173,000 customers in
seven south-central and western Wisconsin counties. MGE's roots in
the Madison area date back more than 150 years.
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version on businesswire.com: https://www.businesswire.com/news/home/20230818590541/en/
Steve Schultz Media Relations 608-252-7219 |
sbschultz@mge.com
Ken Frassetto Investor Relations 608-252-4723 |
kfrassetto@mge.com
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