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Published July 20, 2011, 04:42 PM

Allete shareholders' dividend unchanged

Shareholders for Allete Inc., the parent company of Duluth-based Minnesota Power, are getting a quarterly dividend of 44.5 cents per share of common stock.

By: News Tribune staff, Duluth News Tribune

  • Minnesota Power
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    Minnesota Power is seeing a 2 to 3 percent increase in power demand over a normal summer like 2011. (2005 file / News Tribune)

Shareholders for Allete Inc., the parent company of Duluth-based Minnesota Power, are getting a quarterly dividend of 44.5 cents per share of common stock.

The company’s board of directors announced the dividend today. The dividend is equivalent to $1.78 per share on an annual basis, unchanged from the previous two quarters.

Before that, the company paid a 44-cent dividend for eight consecutive quarters, up from the 43 cents per share it paid in late 2008.

The regular quarterly dividend is payable Sept. 1 to common stock shareholders of record at the close of business Aug. 15.

Allete’s headquarters is in Duluth.

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