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All Releases
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Boswell Energy Center Unit 4 to reduce mercury emissions by 90 percent, extend reliability and continue to provide cost-competitive energy
05/08/2012
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Duluth, Minn.-The region's largest electric generating unit will undergo a major environmental retrofit that will greatly reduce emissions while helping to ensure competitively-priced energy for decades to come.
Boswell Unit 4 in Cohasset, Minn. will reduce emissions of mercury, particulates and sulfur dioxide. ALLETE Chairm...
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ALLETE reports first quarter results and reaffirms 2012 earnings guidance
05/02/2012
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DULUTH, Minn. — ALLETE, Inc. (NYSE:ALE) today reported first quarter 2012 earnings of 66 cents per share on net income of $24.4 million and operating revenue of $240.0 million, compared to $1.07 on net income of $37.2 million and operating revenue of $242.2 million in 2011.
The first quarter of 2011 included the reversal of a $6.2...
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ALLETE Board of Directors declares dividend on common stock
04/26/2012
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DULUTH, Minn. - The ALLETE, Inc. (NYSE: ALE) Board of Directors has declared a quarterly dividend of 46 cents per share of common stock.
On an annual basis the dividend is equivalent to $1.84 per share, unchanged from the previous quarter.
The regular quarterly dividend is payable June 1 to common stock shareholders of reco...
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ALLETE to Announce First Quarter Financial Results May 2
04/05/2012
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DULUTH, Minn.-ALLETE, Inc. (NYSE:ALE) will announce its financial results for the first quarter of 2012 before the stock markets open on Wednesday, May 2, 2012.
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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Strong industrial sales drive ALLETE's 2011 earnings
Full year results at upper end of company's guidance range
02/15/2012
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Duluth, Minn. -ALLETE, Inc. (NYSE: ALE) today announced 2011 earnings of $2.65 per share. The company reported net income of $93.8 million on revenue of $928.2 million compared to net income of $75.3 million on revenue of $907 million in 2010.
Excluding an eight-cents-per-share benefit in 2011 and a 12-cents-per-share charge in 2010 - bo...
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New transmission would bring more Canadian hydropower southward and improve regional electric reliability
02/09/2012
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Duluth, Minn. - To bring renewable, carbon-free energy from Canada and upgrade the Upper Midwest's electric system, Minnesota Power is proposing the construction of new transmission from Winnipeg to the Mesabi Iron Range and eventually into Duluth. Minnesota Power also is exploring other regional grid enhancements.
Minnesota Power, a di...
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Minnesota Power resource study informs long-term energy planning process
02/06/2012
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Duluth, Minn.-Minnesota Power, a division of ALLETE (NYSE: ALE), today filed a study with the Minnesota Public Utilities Commission that examines how pending EPA regulations, predicted regional energy growth and customer cost impacts will play key roles in how the company will provide reliable and affordable electric power in the future.
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Minnesota Power's Bison 1 Wind Energy Center completed in North Dakota; Bison 2 and 3 up next
02/06/2012
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Duluth, Minn.-Renewable energy is flowing to the power grid from Minnesota Power's newest wind farm near New Salem, N.D., where the company has commissioned 15 state-of-the-art wind turbines, completing its Bison 1 Wind Energy Center.
Commissioning of the last Bison 1B turbine was completed Jan. 31 by personnel from Minnesota Power,...
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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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