Interstate Power and Light Company declares preferred stock dividend

Rhea-AI Summary

Alliant Energy's Iowa utility, Interstate Power and Light Company (IPL), has announced a final dividend of $0.31875 per share for its 5.1% Series D Cumulative Preferred Stock, payable on December 15, 2021. Shareowners must be on record by November 30, 2021. Additionally, IPL plans to redeem all 8,000,000 outstanding shares of the Series D Preferred Stock at $25 per share, excluding the scheduled dividend payment.

Alliant Energy (NASDAQ: LNT) serves over 975,000 electric and 420,000 natural gas customers across Iowa and Wisconsin.

Positive

• Declaring a dividend of $0.31875 per share demonstrates strong cash flow management and shareholder return.
• Redemption of the Series D Preferred Stock may enhance capital structure and reduce future interest obligations.

Negative

• None.

CEDAR RAPIDS, Iowa, Nov. 19, 2021 (GLOBE NEWSWIRE) -- The Board of Directors of Alliant Energy‘s Iowa utility, Interstate Power and Light Company (IPL), has declared the final dividends for its preferred stock (NASDAQ: IPLDP) shareowners of record on November 30, 2021. The dividends, which are payable on December 15, 2021, are as follows:

$0.31875 per share on the 5.1% Series D Cumulative Preferred Stock

On November 3, 2021, IPL, a wholly owned subsidiary of Alliant Energy Corporation, issued a notice of redemption of all of the 8,000,000 outstanding shares of IPL’s 5.100% Series D Cumulative Perpetual Preferred Stock, a $0.01 par value, which is listed on the Nasdaq Global Select Market under the symbol IPLDP. The redemption will be effective on December 15, 2021 at a price of $25 per share. The redemption price does not include the quarterly dividend that is scheduled to be paid on December 15, 2021 to applicable holders of record.

Alliant Energy Corporation (NASDAQ: LNT) provides regulated energy service to 975,000 electric and 420,000 natural gas customers across Iowa and Wisconsin. Alliant Energy's mission is to deliver the energy solutions and exceptional service customers and communities count on – safely, efficiently and responsibly. Interstate Power and Light Company and Wisconsin Power and Light Company are Alliant Energy’s two public utility subsidiaries. Alliant Energy is a component of the Nasdaq CRD Sustainability Index, Bloomberg’s 2020 Gender-Equality Index, and the S&P 500. For more information, visit alliantenergy.com and follow us on LinkedIn, Facebook, Instagram and Twitter.

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FAQ

What is the dividend amount declared by Alliant Energy (LNT) for December 2021?

Alliant Energy declared a dividend of $0.31875 per share for its 5.1% Series D Cumulative Preferred Stock.

When is the dividend payment date for LNT's declared dividends?

The dividend payment date is December 15, 2021.

What is the record date for Alliant Energy's dividend payment?

The record date for the dividend payment is November 30, 2021.

What will happen to the Series D Preferred Stock of Alliant Energy (LNT)?

Alliant Energy plans to redeem all outstanding shares of the Series D Preferred Stock at a price of $25 per share.