Xcel Energy Inc. Board Increases 2021 Common Dividend 6.4%, Declares Dividend on Common Stock

Rhea-AI Summary

Xcel Energy Inc. (NASDAQ: XEL) announced a quarterly dividend increase from 43 cents to 45.75 cents per share, marking a 6.4% hike and a projected annual rate of $1.83 per share. This dividend will be payable on April 20, 2021, to shareholders of record by March 15, 2021. The increase aligns with Xcel's goal of a 5-7% annual dividend growth, reflecting the company's confidence in its long-term business strategy and commitment to delivering strong returns to shareholders.

Positive

• Quarterly dividend raised by 6.4%, indicating strong financial health.
• Annual dividend rate now at $1.83 per share, enhancing shareholder income.
• Dividend growth aligns with company strategy of 5-7% annual increases.

Negative

• None.

The Board of Directors of Xcel Energy Inc. (NASDAQ: XEL) today raised the quarterly dividend on the company’s common stock from 43 cents per share to 45.75 cents per share, which is equivalent to an annual rate of $1.83 per share. The dividends are payable April 20, 2021, to shareholders of record on March 15, 2021.

“We are increasing our dividend 6.4 percent, which is consistent with our objective of growing the dividend 5-7 percent annually. The dividend increase is evidence of our confidence in our long-term business plan and our commitment to provide shareholders an attractive total return,” said Ben Fowke, chairman and CEO of Xcel Energy.

Xcel Energy is a major U.S. electricity and natural gas company, with operations in 8 Western and Midwestern states. Xcel Energy provides a comprehensive portfolio of energy-related products and services to 3.7 million electricity customers and 2.1 million natural gas customers through its regulated operating companies. Company headquarters are located in Minneapolis. More information is available at www.xcelenergy.com.

This information is not given in connection with any sale or offer for sale or offer to buy any securities.

Statements in this press release regarding Xcel Energy’s business which are not historical facts are “forward-looking statements” that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see “Risk Factors” in the Company's Annual Report on Form 10-K for the most recently ended fiscal year.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210217005815/en/

FAQ

What is the new quarterly dividend for Xcel Energy (XEL)?

The new quarterly dividend for Xcel Energy (XEL) is 45.75 cents per share.

When will the new dividend be paid to shareholders of Xcel Energy?

The new dividend will be paid on April 20, 2021, to shareholders of record by March 15, 2021.

What percentage increase did Xcel Energy announce for its dividend?

Xcel Energy announced a 6.4% increase in its dividend.

What is Xcel Energy's annual dividend rate after the increase?

After the increase, Xcel Energy's annual dividend rate is $1.83 per share.

How often does Xcel Energy pay dividends?

Xcel Energy typically pays dividends on a quarterly basis.