MGE Energy Declares 3-for-2 Stock Split

Madison, Wis., Dec. 20, 2013—The Board of Directors of MGE Energy, Inc. (Nasdaq: MGEE) today declared a 3-for-2 stock split in the form of a common stock dividend. The stock split is expected to help keep the stock affordable for investors.

The common stock dividend is payable Feb. 7, 2014, to shareholders of record at the close of business on Jan. 24, 2014.

"The stock split underscores the confidence the Board of Directors has in our company's long-standing commitment to shareholder value," said Gary Wolter, chairman, president and CEO.

Earlier in 2013, the Board of Directors voted to increase MGE Energy's cash dividend for the 38th consecutive year.

The company's last stock split was in 1996 when a 3-for-2 stock dividend was issued.

About MGE Energy

MGE Energy is a public utility holding company. Its principal subsidiary, Madison Gas and Electric (MGE), generates and distributes electricity to 140,000 customers in Dane County, Wis., and purchases and distributes natural gas to 145,000 customers in seven south-central and western Wisconsin counties. MGE's roots in the Madison area date back more than 150 years.