Xcel Energy Inc. Board Increases 2022 Common Dividend 6.6%, Declares Dividend on Common Stock

Rhea-AI Summary

Xcel Energy Inc. (NASDAQ: XEL) has announced a quarterly dividend increase from 45.75 cents to 48.75 cents per share, marking a 6.6% increase and reflecting a commitment to shareholder returns. This raises the annual dividend rate to $1.95 per share, payable on April 20, 2022, to shareholders on record by March 15, 2022. CEO Bob Frenzel emphasized the company's confidence in its investment opportunities and a plan to grow dividends by 5-7% annually.

Positive

• Quarterly dividend raised from 45.75 cents to 48.75 cents per share.
• 6.6% increase signals confidence in investment opportunities.
• Commitment to grow dividends by 5-7% annually.

Negative

• None.

MINNEAPOLIS--(BUSINESS WIRE)-- The Board of Directors of Xcel Energy Inc. (NASDAQ: XEL) today raised the quarterly dividend on the company’s common stock from 45.75 cents per share to 48.75 cents per share, which is equivalent to an annual rate of $1.95 per share. The dividends are payable April 20, 2022, to shareholders of record on March 15, 2022.

“Today's 6.6 percent increase in our dividend signals the confidence we have in our investment opportunities and our commitment to provide shareholders an attractive total return profile. In addition, the increase is consistent with our objective to grow our dividend 5-7 percent annually,” said Bob Frenzel, chairman, president and CEO.

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.

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Xcel Energy, Minneapolis

Shareholder Services

Darin Norman (612) 337-2310

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Paul Johnson, Vice President, Treasurer & Investor Relations (612) 215-4535

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Xcel Energy Media Relations Representatives (612) 215-5300

Source: Xcel Energy Inc.