Largest Dividend Increase in 30 Years
The MGE Energy Board of Directors increased the regular quarterly dividend rate by nearly 5% to $0.3225 per share on the company's common stock at its Aug. 18, 2017 meeting.
This increase, which is the largest in the last 30 years, raises the annual dividend rate by 6 cents from $1.23 per share to $1.29 per share.
"The action by our Board demonstrates confidence in our long-term strategy of providing solid returns for our shareholders," said Jeffrey Keebler, MGE Energy's President and CEO. "Our dividend is supported by the financial strength of our company and our commitment to the dividend, which we have paid for more than one hundred consecutive years and increased for 42 consecutive years."
MGE Energy is one of only four combination utility holding companies nationwide to increase its dividend for 42 or more years. The financial publisher Mergent consistently ranks MGE Energy as a "Dividend Achiever."
The dividend is payable Sept. 15, 2017, to shareholders of record Sept. 1, 2017.