ALLETE Board of Directors Raises Quarterly Stock Dividend
January 23 2015 - 8:30AM
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 50.5 cents per share, an increase of 3.1
percent.
“The initiatives we have undertaken over the past few years have
resulted in steady earnings growth, and we expect to continue on
that path,” said ALLETE Chairman, CEO and President Al Hodnik.
“ALLETE’s Board of Directors is committed to returning value to our
shareholders. This increase reflects our positive earnings and
strong cash flow outlook for the future.”
On an annual basis, the increased dividend is equivalent to
$2.02 per share. The regular quarterly dividend is payable March 1
to common shareholders of record at the close of business February
16, 2015.
ALLETE is an energy company headquartered in Duluth, Minnesota.
ALLETE’s energy businesses include Minnesota Power, Superior Water,
Light & Power Co., ALLETE Clean Energy, and BNI Coal. 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. 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, Inc.Investor Contact:Tim Thorp,
218-723-3953tthorp@allete.com
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