News Releases

 
News Releases
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Dec 5, 2003
DULUTH, Minn.--With the closing of two transactions today, ALLETE, Inc. (NYSE: ALE) announced it has substantially completed the sale of its Water Services businesses. ALLETE subsidiary Florida Water Services Corporation closed today on the sale of its water and wastewater systems serving Lee County and Citrus County, Florida. The systems were s...
Nov 21, 2003
DULUTH, Minn.--ALLETE, Inc. (NYSE: ALE) announced today that its subsidiary, ALLETE Water Services, has agreed to sell its water and wastewater systems of North Carolina-based Heater Utilities, Inc. to Philadelphia Suburban Corporation (NYSE: PSC). The stock purchase agreement includes a $48 million cash payment to ALLETE Water Services and the ...
Nov 18, 2003
November 18, 2003 DULUTH, Minn.-- ALLETE, Inc. (NYSE: ALE) today announced the redemption by ALLETE Capital I of all $75 million aggregate liquidation amount of the 8.05% Cumulative Quarterly Income Preferred Securities (QUIPS) of ALLETE Capital I at a redemption price equal to $25 per QUIPS plus accumulated and unpaid distributions to t...
Nov 13, 2003
DULUTH, Minn.--ALLETE, Inc. (NYSE: ALE) announced today that its subsidiary, Florida Water Services Corporation, closed on the sale of its water and wastewater system serving Osceola County, Florida. The system has been sold to a local governmental authority for approximately $38 million. Florida Water Services has been in the process of...
Nov 6, 2003
DULUTH, Minn.--ALLETE, Inc. (NYSE: ALE) announced today that its subsidiary, Florida Water Services Corporation, received approximately $145 million from the communities of Marco Island and Deltona for the sale under threat of condemnation of Florida Water's water and wastewater systems serving those communities in Florida. Florida Water...
Oct 31, 2003
DULUTH, Minn.--ALLETE, Inc. (NYSE: ALE) announced today that its subsidiary, Florida Water Services Corporation, has received approximately $36 million pursuant to final judgement in a condemnation action through which Hernando County took ownership of Florida Water's water and wastewater system serving Hernando County, Florida. Florida ...
Oct 30, 2003
DULUTH, Minn.--ALLETE, Inc. (NYSE: ALE) announced today that its subsidiary, Florida Water Services Corporation, has closed on the sale of its water and wastewater system serving Palm Coast, Florida to the city of Palm Coast for approximately $83 million. Florida Water announced it had reached an agreement on the sale of the system July 24, 2003. ...
Oct 24, 2003
DULUTH, Minn.-- ALLETE's (NYSE: ALE) board of directors has declared a quarterly dividend on the company's common stock. A dividend of 28.25 cents per share of common stock was declared by the board. On an annual basis the dividend is equivalent to $1.13 per share, unchanged from the previous quarter. The regular quarterly ...
Oct 24, 2003
Automotive Earnings Growth Highlights ALLETE's Third-Quarter ResultsAutomotive Earnings Growth Highlights ALLETE's Third-Quarter ResultsDULUTH, Minn.--Bolstered by a strong showing from its Automotive Services businesses, ALLETE, Inc. (NYSE:ALE) today reported th...
Oct 24, 2003
DULUTH, Minn. - ALLETE, Inc. (NYSE: ALE) announced today that its Board of Directors has approved a plan to spin-off its automotive services business which will become a publicly traded company to be named ADESA Corporation. The spin-off is expected to take the form of a tax-free stock dividend to ALLETE's shareholders who will receive one ADESA...
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