ALLETE Board of Directors declares dividend on common stock

Rhea-AI Summary

The board of directors of ALLETE (NYSE: ALE) has announced a quarterly dividend of 67.75 cents per share, maintaining the annual total at $2.71 per share. The dividend is payable on June 1, 2023, to shareholders on record by the close of business on May 15, 2023. ALLETE is an energy company based in Duluth, Minnesota, owning several utility subsidiaries including Minnesota Power and Superior Water, Light and Power. This dividend decision reflects the company’s commitment to returning value to its shareholders while maintaining consistent financial performance.

Positive

• Quarterly dividend declared at 67.75 cents per share.
• Annual dividend remains at $2.71 per share, indicating consistent returns for shareholders.
• Dividend payment date set for June 1, 2023, enhancing shareholder confidence.

Negative

• None.

DULUTH, Minn.--(BUSINESS WIRE)-- The ALLETE, Inc. (NYSE:ALE) board of directors has declared a quarterly dividend of 67.75 cents per share of common stock.

On an annual basis, the dividend is equivalent to $2.71 per share, unchanged from the previous quarter.

The regular quarterly dividend is payable June 1 to common stock shareholders of record at the close of business May 15, 2023.

ALLETE, Inc. is an energy company headquartered in Duluth, Minnesota. In addition to its electric utilities, Minnesota Power and Superior Water, Light and Power of Wisconsin, ALLETE owns ALLETE Clean Energy, based in Duluth; BNI Energy in Bismarck, ND; New Energy Equity, headquartered in Annapolis, MD; and has an 8% equity interest in the American Transmission Co. More information about ALLETE is available at www.allete.com. ALE-CORP

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230427005372/en/

Investor Contact:

Vince Meyer

218-723-3952

vmeyer@allete.com

Source: ALLETE, Inc.

FAQ

What is the dividend amount declared by ALLETE for the upcoming quarter?

ALLETE has declared a quarterly dividend of 67.75 cents per share.

When is ALLETE's dividend payment date?

The dividend is payable on June 1, 2023.

What is the annual dividend amount for ALLETE?

The annual dividend for ALLETE is $2.71 per share, unchanged from the previous quarter.

What is the record date for ALLETE's dividend?

The record date for ALLETE's dividend is May 15, 2023.