The quarterly dividend on Allete's common stock has been increased by 13 percent, to 41 cents per share, the company announced this morning.
The regular quarterly dividend is payable March 1 to common shareholders of record at the close of business Feb. 15.
"This increase is based on Alletes' solid balance sheet and reflects our positive earnings outlook for the future," said Allete Chairman, President and CEO Don Shippar in the news release announcing the board of director's decision. "Allete is committed to returning value to its shareholders and we expect to consistently provide future dividend increases while at the same time funding our growth initiatives."
