Xcel Energy Inc. Board Increases 2023 Common Dividend 6.7%, Declares Dividend on Common Stock

Rhea-AI Summary

The Board of Directors of Xcel Energy (NASDAQ: XEL) has announced a quarterly dividend increase from 48.75 cents to 52 cents per share, marking an annual rate of $2.08. This dividend will be paid on April 20, 2023, to shareholders recorded as of March 15, 2023. Since 2015, Xcel has aimed for annual dividend growth of 5-7%, achieving an average increase of over 6%. CEO Bob Frenzel expressed confidence in the company's investment opportunities and commitment to delivering attractive returns to shareholders.

Positive

• Quarterly dividend increased from 48.75 cents to 52 cents per share.
• Annual dividend rate now at $2.08 per share, providing a return for shareholders.
• Achieved average annual dividend increases surpassing 6% since 2015.
• Signals strong confidence in investment opportunities.

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 48.75 cents per share to 52 cents per share, which is equivalent to an annual rate of $2.08 per share. The dividends are payable April 20, 2023, to shareholders of record on March 15, 2023.

“Since increasing our dividend growth objective in 2015 to 5-7 percent annually, we have delivered average annual dividend increases above 6 percent. Today's increase signals the confidence we have in our investment opportunities, and our commitment to provide shareholders an attractive total return profile,” said Bob Frenzel, chairman, president 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 3.8 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/20230222006080/en/

Xcel Energy, Minneapolis

Shareholder Services

Darin Norman (612) 337-2310

or

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

or

Xcel Energy Media Relations Representatives (612) 215-5300

Source: Xcel Energy Inc.

FAQ

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

The new dividend amount for Xcel Energy (XEL) is 52 cents per share.

When will the new dividend be paid for Xcel Energy (XEL)?

The new dividend will be paid on April 20, 2023.

What is the record date for Xcel Energy's (XEL) dividend payment?

The record date for Xcel Energy's (XEL) dividend payment is March 15, 2023.

How much has Xcel Energy increased their dividend since 2015?

Since 2015, Xcel Energy has targeted annual dividend growth of 5-7%, achieving an average increase of over 6%.

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

Xcel Energy's annual dividend rate after the increase is $2.08 per share.