ALLETE Board of Directors declares dividend on common stock

Rhea-AI Summary

The board of directors of ALLETE, Inc. (NYSE:ALE) has announced a quarterly dividend of 65 cents per share, maintaining an annual payout of $2.60 per share. This dividend will be paid on September 1 to shareholders of record as of August 15, 2022. ALLETE operates electric utilities in Minnesota and Wisconsin and owns several subsidiaries, including ALLETE Clean Energy and BNI Energy. Investors are advised to review the associated risks discussed in official filings with the Securities and Exchange Commission.

Positive

• Quarterly dividend of 65 cents per share provides consistent income for shareholders.
• Annual dividend remains stable at $2.60 per share, reflecting company confidence.

Negative

• None.

DULUTH, Minn.--(BUSINESS WIRE)-- The ALLETE, Inc. (NYSE:ALE) board of directors has declared a quarterly dividend of 65 cents per share of common stock.

On an annual basis, the dividend is equivalent to $2.60 per share, unchanged from the previous quarter.

The regular quarterly dividend is payable September 1 to common stock shareholders of record at the close of business August 15, 2022.

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, North Dakota; New Energy Equity, headquartered in Annapolis, Maryland; 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/20220728005310/en/

Vince Meyer

Contact: 218-723-3952

vmeyer@allete.com

Source: ALLETE, Inc.

FAQ

What is the dividend amount declared by ALLETE, Inc. in 2022?

ALLETE, Inc. declared a dividend of 65 cents per share.

When is ALLETE's dividend payment date for the third quarter of 2022?

The dividend payment date is September 1, 2022.

What is the annual dividend yield for ALLETE, Inc. in 2022?

The annual dividend yield is $2.60 per share.

Who qualifies for the dividend payment from ALLETE, Inc.?

Shareholders on record as of August 15, 2022, qualify for the dividend payment.