Discover the Latest News: MGE Energy Boosts Dividend by 5% to Drive Shareholder Value and Clean Energy Transition
MGE Energy, Inc. (MGEE) has some great news for its investors! The company's board of directors has made a significant announcement regarding its dividend rates that's sure to capture the attention of shareholders and the financial community alike.
In a strategic move aimed at enhancing shareholder value, MGE Energy has decided to increase its regular quarterly dividend rate by approximately 5%. This translates to a new dividend rate of $0.4275 per share on the company's common stock. This increase marks a positive step forward and showcases the company's commitment to rewarding its investors.
Shareholders will be pleased to learn that the dividend is scheduled to be paid out on September 15, 2023. To be eligible for this payout, shareholders must be on record by September 1, 2023. These dates provide a clear timeline for investors to ensure they receive their dividend on time.
The dividend increase not only benefits shareholders in the short term but also contributes to a higher annualized dividend rate. With this latest adjustment, the annualized dividend rate rises by 8 cents from $1.63 per share to a new rate of $1.71 per share. This uptick reinforces the company's commitment to long-term value creation for its investors.
Jeff Keebler, the Chairman, President, and CEO of MGE Energy, expressed his enthusiasm about the decision. He emphasized the company's dedication to clean energy transition and its mission to provide safe, reliable, and affordable clean energy solutions. Keebler believes that the board's action aligns with MGE Energy's robust business strategy, ensuring a sustainable future for the company and its shareholders.
MGE Energy's commitment to its investors is demonstrated by its impressive track record. For the past 48 years, the company has consistently increased its dividend annually. This news speaks volumes about the company's financial stability, long-term vision, and dedication to rewarding its shareholders. Additionally, MGE Energy's remarkable history of paying cash dividends for over 110 years underscores its strong position in the market.
As MGE Energy continues to pave the way for clean energy solutions and value creation, this dividend increase announcement further solidifies its standing as a reliable and forward-thinking company. Investors can look forward to reaping the benefits of this positive move while supporting a company that values sustainability, growth, and shareholder prosperity.
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