MGE Energy Increases Dividend for 46th Consecutive Year

Rhea-AI Summary

MGE Energy, Inc. (Nasdaq: MGEE) has announced a 5% increase in its quarterly dividend rate to $0.3875 per share, raising the annual dividend from $1.48 to $1.55. This payment will be made on Sept. 15, 2021, to shareholders recorded by Sept. 1, 2021. The company has maintained a streak of 46 years of consecutive dividend increases and has paid dividends for over 110 years. MGE Energy's board emphasizes the importance of this increase in providing shareholder value and reflects the company's strong long-term business strategy.

Positive

• Dividend increased by 5% to $0.3875 per share, enhancing shareholder returns.
• Annual dividend rate raised from $1.48 to $1.55, a sign of financial health.
• 46 consecutive years of dividend increases, showcasing long-term commitment to shareholders.

Negative

• None.

The board of directors of MGE Energy, Inc. (Nasdaq: MGEE) today increased the regular quarterly dividend rate approximately 5% to $0.3875 per share on the outstanding shares of the company's common stock. The dividend is payable Sept. 15, 2021, to shareholders of record Sept. 1, 2021. This raises the annualized dividend rate by 7 cents from $1.48 per share to $1.55 per share.

"Today’s dividend increase marks the company's 46th consecutive year of increasing its dividend, an accomplishment that everyone at MGE Energy can be proud of. We recognize the importance of dividend growth to the overall shareholder value proposition," Chairman, President and CEO Jeff Keebler said. "Today’s action by our board reinforces our long record of shareholder value through dividends and dividend growth and demonstrates the continued strength and resilience of MGE Energy's long-term business strategy in building your community energy company for the future."

MGE Energy has increased its dividend annually for the past 46 years and has paid cash dividends for more than 110 years.

About MGE Energy

MGE Energy is a public utility holding company. Its principal subsidiary, Madison Gas and Electric (MGE), generates and distributes electricity to 157,000 customers in Dane County, Wis., and purchases and distributes natural gas to 166,000 customers in seven south-central and western Wisconsin counties.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210820005315/en/

FAQ

What is the new dividend rate for MGE Energy (MGEE)?

MGE Energy's new dividend rate is $0.3875 per share.

When will MGE Energy's dividend be paid?

The dividend will be paid on September 15, 2021.

What was the previous annual dividend amount for MGE Energy?

The previous annual dividend amount was $1.48 per share.

How many years has MGE Energy increased its dividend?

MGE Energy has increased its dividend for 46 consecutive years.

What is the total annualized dividend amount after the increase?

The total annualized dividend amount after the increase is $1.55 per share.