CMS Energy's Board of Directors Increases Quarterly Dividend on Common Stock to 48.75 Cents Per Share

Rhea-AI Summary

The Board of Directors of CMS Energy has announced an increase in the quarterly dividend for common stock to 48.75 cents per share, up from 46 cents. This adjustment, effective February 28, 2023, signifies a commitment to delivering strong financial performance. Based on a closing price of $63.19, the increase results in an annualized yield of 3 percent. CEO Garrick Rochow stated that this decision reflects the successful execution of the company’s strategy and their confidence in delivering consistent results for investors. The annualized dividend now stands at $1.95 per share.

Positive

• Quarterly dividend increased to 48.75 cents per share, reflecting strong financial performance.
• Annualized yield now at 3 percent based on a share price of $63.19.
• CEO's statement indicates confidence in continued delivery on corporate promises.

Negative

• None.

JACKSON, Mich., Feb. 2, 2023 /PRNewswire/ -- The Board of Directors of CMS Energy today increased the quarterly dividend on the company's common stock to 48.75 cents per share, up from 46 cents per share. 

Based on Tuesday's closing price for CMS Energy common stock, $63.19, the dividend represents an annualized yield of 3 percent.

The first quarter dividend for the common stock is payable Feb. 28, 2023, to shareholders of record Feb. 13, 2023.

Garrick Rochow, CMS Energy's president and chief executive officer, said the board's decision to increase the current dividend to $1.95 per share on an annualized basis reflects the successful execution of the company's strategy.

"CMS Energy continues to deliver consistent industry-leading financial performance that benefits our investors, customers and the communities we serve," Rochow said. "Our increased dividend reflects our confidence that we will again deliver on our promises this year."

CMS Energy (NYSE: CMS) is a Michigan-based company that has an electric and natural gas utility, Consumers Energy, as its primary business. It also owns and operates independent power generation businesses.

For more information on CMS Energy, please visit our website at cmsenergy.com.
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SOURCE CMS Energy

FAQ

What is the new dividend amount for CMS Energy?

The quarterly dividend amount for CMS Energy has been increased to 48.75 cents per share.

When will the new dividend be payable?

The new dividend will be payable on February 28, 2023.

What is the annualized dividend for CMS Energy?

The annualized dividend for CMS Energy is now $1.95 per share.

What is the annual yield based on the latest dividend?

The annualized yield based on the new dividend is 3 percent.