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Allete dividend set at 44 cents

Allete Inc. announced Thursday that it will boost the quarterly dividend paid to investors by one penny in 2009 to 44 cents per share. This equates to a 2.3 percent increase. The first of these larger dividends will be paid March 1 to common stoc...

Allete Inc. announced Thursday that it will boost the quarterly dividend paid to investors by one penny in 2009 to 44 cents per share. This equates to a 2.3 percent increase. The first of these larger dividends will be paid March 1 to common stock shareholders who were on record at the close of business Feb. 16, 2009.

"This increase reflects our commitment to providing value for shareholders and the confidence we have in our long-term earnings potential," said Don Shippar, Allete's chairman, president and CEO, in a prepared written statement.

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