NiSource Increases Common Dividend

Rhea-AI Summary

NiSource Inc. (NYSE: NI) declared a quarterly dividend of 22 cents per share, payable on Feb. 19, 2021, to shareholders of record by Feb. 9, 2021. This marks an increase of nearly 5% from last year’s 84 cents per share, resulting in an annualized dividend of 88 cents. The company aims to balance dividend growth with funding investment opportunities while maintaining a 60 to 70 percent payout ratio. Additionally, a dividend of $406.25 per share was declared for Series B Preferred Stock, payable on March 15, 2021.

Positive

• Dividend increased nearly 5% from the previous year, enhancing shareholder value.
• Annualized dividend now stands at 88 cents per share, reflecting company confidence.
• Commitment to a 60 to 70 percent payout ratio indicates financial prudence.

Negative

• None.

MERRILLVILLE, Ind., Jan. 27, 2021 /PRNewswire/ -- The board of directors of NiSource Inc. (NYSE: NI) today declared a quarterly common stock dividend payment of 22 cents per share, payable Feb. 19, 2021 to stockholders of record at the close of business on Feb. 9, 2021. This represents an annualized common dividend payment of 88 cents per share, an increase of nearly 5% over the 2020 rate of 84 cents.

"This common dividend increase is consistent with our commitment to sustainably increase shareholder value," said NiSource President and CEO Joe Hamrock. "An increasing dividend is a key part of our overall value proposition. At the same time, we're balancing this increase with our need to fund significant near-term investment opportunities while continuing to target a 60 to 70 percent payout ratio."

The board also declared today a dividend of $406.25 per share on the corporation's 6.50% Series B Fixed-Rate Reset Cumulative Redeemable Perpetual Preferred Stock, equal to $0.40625 per depositary share, each representing a 1/1000^th interest in a share of the Series B Preferred Stock, payable March 15, 2021 to stockholders of record at the close of business on Feb. 22, 2021.

About NiSource
NiSource Inc. (NYSE: NI) is one of the largest fully-regulated utility companies in the United States, serving approximately 3.2 million natural gas customers and 500,000 electric customers across six states through its local Columbia Gas and NIPSCO brands. Based in Merrillville, Indiana, NiSource's approximately 7,500 employees are focused on safely delivering reliable and affordable energy to our customers and communities we serve. NiSource is a member of the Dow Jones Sustainability - North America Index and the Bloomberg Gender Equality Index and has been named by Forbes magazine among America's Best Large Employers since 2016. Additional information about NiSource, its investments in modern infrastructure and systems, its commitments and its local brands can be found at www.nisource.com. Follow us at www.facebook.com/nisource, www.linkedin.com/company/nisource or www.twitter.com/nisourceinc. NI-F

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SOURCE NiSource Inc.

FAQ

What is the new dividend amount for NiSource (NI)?

NiSource has declared a quarterly dividend of 22 cents per share.

When will the dividend be paid to NiSource (NI) shareholders?

The dividend will be paid on February 19, 2021, to stockholders of record by February 9, 2021.

How much is the annual dividend for NiSource (NI)?

The annualized dividend for NiSource is now 88 cents per share.

Is the dividend for NiSource (NI) sustainable?

The company targets a payout ratio of 60 to 70 percent, indicating a focus on sustainability.

What is the date for the Series B Preferred Stock dividend for NiSource (NI)?

The dividend for the Series B Preferred Stock will be paid on March 15, 2021.