The board of directors for Allete Inc. announced Wednesday it has approved a quarterly dividend of 44 cents per share of common stock -- the same as investors were offered during the second quarter of the year.
The latest quarterly dividend is payable Dec. 1 to common stock shareholders of record at the close of business Nov. 15.
Allete, based in Duluth, is the parent company of Minnesota Power and Superior Water, Light & Power. The corporation also owns BNI Coal in North Dakota, a portfolio of real estate investments in Florida and has investments in the American Transmission Co.
