DULUTH, Minn.--(BUSINESS WIRE)--
ALLETE, Inc. (NYSE:ALE) today announced that its Board of Directors has
increased the quarterly dividend on the company's common stock to 53.5
cents per share, an increase of 3 percent.
"This increase is supported by ALLETE's solid financial position and
continues our long history of returning value to shareholders," said
ALLETE Chairman, CEO and President Al Hodnik. "ALLETE's Board of
Directors is committed to a sustainable dividend that allows for future
On an annual basis, the increased dividend is equivalent to $2.14 per
share. The regular quarterly dividend is payable March 1 to common
shareholders of record at the close of business February 15, 2017.
ALLETE is an energy company headquartered in Duluth, Minn. In addition
to its electric utilities, Minnesota Power and Superior Water, Light and
Power of Wisconsin, ALLETE owns ALLETE Clean Energy, based in Duluth,
U.S. Water Services headquartered in St. Michael, Minn., BNI Energy in
Center, N.D., and has an eight percent equity interest in the American
Transmission Co. More information about ALLETE is available at www.allete.com.
The statements contained in this release and statements that ALLETE
may make orally in connection with this release that are not historical
facts, are forward-looking statements. Actual results may differ
materially from those projected in the forward-looking statements. These
forward-looking statements involve risks and uncertainties and investors
are directed to the risks discussed in documents filed by ALLETE with
the Securities and Exchange Commission.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170125005172/en/
Vince Meyer, 218-723-3952
Source: ALLETE, Inc.
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