News Releases

Date Title and Summary Additional Formats
Toggle Summary ALLETE, Inc. reports 2023 earnings of $4.30 per share; clean energy transition drives $4.3 billion capital investment plan over the next five years
DULUTH, Minn. --(BUSINESS WIRE)--Feb. 20, 2024-- ALLETE, Inc. (NYSE: ALE) today reported 2023 earnings of $4.30 per share on net income of $247.1 million and operating revenue of $1.9 billion . Reported results from 2022 were $3.38 per share on net income of $189.3 million and operating revenue of
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Toggle Summary Minnesota Power advances EnergyForward with request for proposals for up to 400 megawatts of wind energy
DULUTH, Minn. --(BUSINESS WIRE)--Feb. 15, 2024-- Minnesota Power , a utility division of ALLETE Inc. (NYSE: ALE), has issued a Request for Proposals (RFP) for up to 400 megawatts of wind energy to come online by the end of 2027, an important milestone in advancing its Energy Forward   vision for
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Toggle Summary ALLETE to announce 2023 financial results on February 20
DULUTH, Minn. --(BUSINESS WIRE)--Feb. 7, 2024-- ALLETE Inc. (NYSE:ALE) will announce its financial results for 2023 before the stock markets open on Tuesday, February 20, 2024 . Following the release, ALLETE Chair, President and Chief Executive Officer Bethany M.
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Toggle Summary ALLETE Board of Directors raises quarterly common stock dividend
DULUTH, Minn. --(BUSINESS WIRE)--Jan. 26, 2024-- ALLETE, Inc. (NYSE:ALE) today announced that its Board of Directors has increased the quarterly dividend on the company’s common stock to $0.705 per share, a 4.1% percent increase. “This dividend increase reflects the ALLETE Board of Directors’
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Toggle Summary ALLETE, Grid United sign development agreements for advancing new HVDC transmission line in North Dakota and Montana
North Plains Connector will link three regional energy markets DULUTH, Minn. --(BUSINESS WIRE)--Dec. 21, 2023-- ALLETE, Inc. (NYSE:ALE) and North Plains Connector LLC , a subsidiary of Grid United LLC , this week signed development agreements for the North Plains Connector project, a new,
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Toggle Summary Minnesota Power Advances EnergyForward with Request for Proposals for up to 300 Megawatts of Solar Energy
DULUTH, Minn. --(BUSINESS WIRE)--Nov. 15, 2023-- Minnesota Power , a utility division of ALLETE Inc. (NYSE: ALE), took an important step in advancing its EnergyForward vision for 100% carbon-free energy with the issuance of a Request for Proposals (RFP) for up to 300 megawatts of regional solar
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Toggle Summary ALLETE, Inc. reports third quarter earnings of $1.49 per share; raises full-year 2023 earnings guidance to a range of $4.30 to $4.40 per share reflecting increased earnings from ALLETE Clean Energy
DULUTH, Minn. --(BUSINESS WIRE)--Nov. 2, 2023-- ALLETE, Inc. (NYSE: ALE) today reported third quarter 2023 earnings of $1.49 per share on net income of $85.9 million . Last year’s third quarter results were 59 cents per share on net income of $33.7 million .
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Toggle Summary Minnesota Power files electric rate proposal to safeguard reliable service and maintain progress of clean-energy transition
Duluth, Minn. — As Minnesota Power continues the transition to a reliable, resilient clean-energy future through its EnergyForward strategy, today the company is filing its 2024 electric rate proposal with the Minnesota Public Utilities Commission (MPUC). The 2024 proposal supports the investments that the company is making to continue to advance a clean-energy transition for the region and the state.
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Toggle Summary ALLETE Board of Directors declares dividend on common stock
DULUTH, Minn. --(BUSINESS WIRE)--Oct. 27, 2023-- The ALLETE, Inc. (NYSE:ALE) board of directors has declared a quarterly dividend of 67.75 cents per share of common stock. On an annual basis, the dividend is equivalent to $2.71 per share, unchanged from the previous quarter.
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Toggle Summary DOE Awards $50 Million to Minnesota Power to Increase Reliability and Resilience of Region’s Transmission Grid in Support of a Clean-Energy Future
DULUTH, Minn. --(BUSINESS WIRE)--Oct. 18, 2023-- The U.S. Department of Energy today awarded a $50 million grant to Minnesota Power to modernize its high-voltage direct current (HVDC) transmission system so it is ready to expand to meet future energy needs while increasing the reliability and
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