Dividend Increase for 43rd Consecutive Year
The MGE Energy Board of Directors in August increased the regular quarterly dividend rate by nearly 5% to $0.3375 per share on the outstanding shares of the company's common stock. This raises the annual dividend rate by 6 cents from $1.29 per share to $1.35 per share.
MGE Energy has increased its dividend annually for the past 43 years and has paid cash dividends for more than 100 years.
"The dividend is an important part of our total return to our shareholders. The board's decision to increase our quarterly dividend reflects our commitment to delivering shareholder value and our confidence in our business strategy," said President and CEO Jeff Keebler.
The financial publisher Mergent consistently ranks MGE Energy as a "Dividend Achiever." The dividend is payable Sept. 15, 2018, to shareholders of record Sept. 1, 2018.