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All Releases
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Minnesota Power hydroelectricity purchase from Canada approved
01/26/2012
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Duluth, Minn.-A 15-year agreement that calls for Minnesota Power to buy carbon-free hydroelectricity from Manitoba Hydro beginning in 2020 was unanimously approved today by the Minnesota Public Utilities Commission.
The 250 megawatt (MW) power purchase agreement will provide a competitive energy resource for customers of Minnesota Power...
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ALLETE, Inc. Board of Directors raises quarterly common stock dividend
01/26/2012
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DULUTH, Minn. - The ALLETE (NYSE:ALE) Board of Directors has increased the quarterly dividend on the company's common stock to 46 cents per share.
"This increase reflects the Board's confidence in ALLETE's earnings growth outlook for the future," said Al Hodnik, ALLETE Chairman, President and CEO. "The Board is committed to returning val...
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ALLETE to Announce 2011 Financial Results on February 15
01/18/2012
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DULUTH, Minn.-ALLETE, Inc. (NYSE:ALE) will announce its financial results for 2011 before the stock markets open on Wednesday, February 15, 2012.
Following the release, ALLETE President and Chief Executive Officer Alan R. Hodnik and Chief Financial Officer Mark A. Schober will present an overview of results and discuss other factors affe...
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ALLETE, Inc. reports third quarter earnings of 57 cents per share; expects to finish year at higher end of guidance range
11/02/2011
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DULUTH, Minn. - ALLETE (NYSE: ALE) today reported third quarter 2011 earnings of 57 cents per share on net income of $20.5 million and revenue of $226.9 million. In the same period a year ago, ALLETE earned 56 cents per share on net income of $19.6 million and revenue of $224.1 million.
Quarterly net income from ALLETE's Regulated Operat...
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ALLETE Board of Directors declares dividend on common stock
10/31/2011
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DULUTH, Minn. - ALLETE, Inc. (NYSE: ALE) board of directors has declared a quarterly dividend of 44.5 cents per share of common stock.
On an annual basis the dividend is equivalent to $1.78 per share, unchanged from the previous quarter.
The regular quarterly dividend is payable December 1 to common stock shareholders of record a...
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ALLETE to announce third quarter financial results November 2
10/04/2011
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DULUTH, Minn.-ALLETE, Inc. (NYSE:ALE) will announce its financial results for the third quarter of 2011 before the stock markets open on Wednesday, November 2, 2011.
Following the release, ALLETE Chairman, President and Chief Executive Officer
Alan R. Hodnik and Chief Financial Officer Mark A. Schober will present an overview of re...
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Minnesota Power's 'low-cost' North Dakota wind farm receives key regulatory approval
08/31/2011
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Duluth, Minn.-The Minnesota Public Utilities Commission (MPUC) has unanimously approved Minnesota Power's request for approval of investments and expenditures in its Bison 2 wind project for recovery through a renewable resources rider.
Bison 2, a 105-megawatt wind farm located near New Salem, N.D, is part of the company's plan to cost-...
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Minnesota Power to provide power to innovative new industrial customer
08/09/2011
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Duluth, Minn.-Minnesota Power has completed an all-requirements electric service agreement to provide power to Magnetation, an innovative new company that produces iron concentrate from previously-mined ore.
Magnetation has begun grading and road work for a facility near Taconite, Minn. that it expects to open in May of 2012. Minneso...
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ALLETE reports second quarter 2011 financial results; reaffirms earnings guidance
07/29/2011
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ALLETE, Inc. (NYSE: ALE) today reported second quarter 2011 earnings of 48 cents per share and net income of $17 million, compared to earnings of 57 cents per share and net income of $19.4 million in last year's second quarter. Revenue for the quarter increased four percent to $219.9 million from $211.2 million a year ago.
Income fr...
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ALLETE launches new company to target clean energy marketplace
07/28/2011
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ALLETE, Inc. (NYSE: ALE) today announced the launch of a new company, ALLETE Clean Energy, that will leverage industry knowledge and innovation to bring clean energy to customers across North America.
The new company, a wholly-owned subsidiary of ALLETE that will operate independently of the corporation's Duluth-based regulated elect...
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Minnesota Power to increase wholesale electric sales
07/27/2011
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Duluth, Minn. - Essar Steel Minnesota has signed a long-term agreement to purchase the electricity it needs to operate a taconite mine, processing plant, and later a steel mill, from the city of Nashwauk, Minn. The city of Nashwauk obtains its electric power from Minnesota Power, a division of ALLETE (NYSE:ALE).
Based in India, Essar...
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ALLETE Board of Directors declares dividend on common stock
07/20/2011
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DULUTH, Minn. - ALLETE, Inc. (NYSE: ALE) board of directors has declared a quarterly dividend of 44.5 cents per share of common stock.
On an annual basis the dividend is equivalent to $1.78 per share, unchanged from the previous quarter.
The regular quarterly dividend is payable September 1 to common stock shareholders of record ...
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Minnesota Power reaches long-term agreement with municipal customers
06/29/2011
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DULUTH, Minn. -- Minnesota Power, an ALLETE company (NYSE:ALE), has reached agreement with 15 Minnesota municipal customers on new wholesale electric service contracts that take effect July 1 and extend through June 30, 2019.
The municipal electric service contracts continue using formula-based electric rates authorized by the Federal E...
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ALLETE to announce second quarter financial results July 29
06/24/2011
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DULUTH, Minn.-ALLETE, Inc. (NYSE:ALE) will announce its financial results for the second quarter of 2011 before the stock markets open on Friday, July 29, 2011.
Following the release, ALLETE Chairman, President and Chief Executive Officer Alan R. Hodnik and Chief Financial Officer Mark A. Schober will present an overview of results and d...
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Minnesota Power accelerates timing of new wind project in North Dakota
06/22/2011
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Duluth, Minn.-Minnesota Power, an ALLETE company, has accelerated its plans to build a third wind energy project in North Dakota, citing a competitive turbine market, federal production tax credits and regulatory support as factors for moving up its timeline.
The Company submitted a plan to the Minnesota Public Utilities Commission this ...
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Hydropower purchase agreement will trim carbon emissions, bolster transmission system and allow Minnesota Power to 'store' wind energy
05/24/2011
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Duluth, Minn.-Minnesota Power and Manitoba Hydro have signed a long-term power purchase agreement that will reduce carbon emissions for the utility division of ALLETE (NYSE: ALE), provide the lowest-cost energy resource for consumers and introduce a unique way to "store" premier wind energy generated in North Dakota through hydroelectric reser...
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Hodnik named Chair of ALLETE Board of Directors
05/11/2011
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Duluth, Minn.-ALLETE, Inc. (NYSE:ALE) has named President and Chief Executive Officer Alan R. Hodnik to succeed Don Shippar as Chair of the ALLETE Board of Directors effective May 10, 2011.
Hodnik, 51, who became President in 2009 and CEO in May 2010, now assumes additional responsibilities as Chair of the Board of Directors. Since assum...
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Higher electric sales boost ALLETE, Inc. first quarter results
04/29/2011
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ALLETE, Inc. (NYSE: ALE) today reported first quarter 2011 earnings of $1.07 per share on net income of $37.2 million and operating revenue of $242.2 million. This compares to earnings of 68 cents per share, net income of $23 million and operating revenue of $233.6 million recorded in the first quarter of 2010.
Year-over-year comparisons...
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ALLETE Board of Directors declares dividend on common stock
04/20/2011
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DULUTH, Minn. - ALLETE, Inc. (NYSE: ALE) board of directors has declared a quarterly dividend of 44.5 cents per share of common stock.
On an annual basis the dividend is equivalent to $1.78 per share, unchanged from the previous quarter.
The regular quarterly dividend is payable June 1 to common stock shareholders of record at the c...
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ALLETE to announce first quarter financial results April 29
04/07/2011
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DULUTH, Minn.-ALLETE, Inc. (NYSE:ALE) will announce its financial results for the first quarter of 2011 before the stock markets open on Friday, April 29, 2011.
Following the release, ALLETE President and Chief Executive Officer Alan R. Hodnik and Chief Financial Officer Mark A. Schober will present an overview of results and discuss o...
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