ALLETE has entered an agreement to be acquired by a partnership led by Canada Pension Plan Investment Board and Global Infrastructure Partners and start the process to become a private company. Learn more at www.ALLETEforward.com.

News Releases

Date Title and Summary Additional Formats
Toggle Summary ALLETE, Inc. Reports 2022 Earnings of $3.38 Per Share; Initiates 2023 Earnings Guidance Range of $3.55 to $3.85 Per Share
DULUTH, Minn. --(BUSINESS WIRE)--Feb. 16, 2023-- ALLETE, Inc. (NYSE: ALE) today reported 2022 earnings of $3.38 per share on net income of $189.3 million and operating revenue of $1.6 billion . Reported results from 2021 were $3.23 per share on net income of $169.2 million and operating revenue of
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Toggle Summary ALLETE Board of Directors raises quarterly common stock dividend
DULUTH, Minn. --(BUSINESS WIRE)--Feb. 3, 2023-- ALLETE, Inc. (NYSE:ALE) today announced that its Board of Directors has increased the quarterly dividend on the company’s common stock to $0.6775 per share, a 4.2% percent increase. “This dividend increase reflects the ALLETE Board of Directors’
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Toggle Summary ALLETE, Grid United join forces to develop key transmission link to enhance reliability of the nation’s electric grid
DULUTH, Minn. --(BUSINESS WIRE)--Jan. 30, 2023-- ALLETE, Inc. (NYSE:ALE) and Grid United today announced their intent to jointly develop the North Plains Connector, a new, approximately 385-mile high-voltage direct-current (HVDC) transmission line from central North Dakota to Colstrip, Montana .
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Toggle Summary Minnesota Public Utilities Commission Sets New Rates for Minnesota Power
DULUTH, Minn. --(BUSINESS WIRE)--Jan. 24, 2023-- The Minnesota Public Utilities Commission (MPUC) on Monday approved a rate increase of approximately $59 million , or approximately 9%, that Minnesota Power , a utility division of ALLETE Inc. (NYSE: ALE), is allowed to recover through the base rates
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Toggle Summary ALLETE to announce 2022 financial results on Feb. 16
DULUTH, Minn. --(BUSINESS WIRE)--Jan. 19, 2023-- ALLETE Inc. (NYSE:ALE) will announce its financial results for 2022 before the stock markets open on Thursday, Feb. 16, 2023 . Following the release, ALLETE Chair, President and Chief Executive Officer Bethany M.
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Toggle Summary Minnesota Power Ready to Move Next Phase of EnergyForward Following MPUC Approval of Resource Plan
DULUTH, Minn. --(BUSINESS WIRE)--Nov. 10, 2022-- The Minnesota Public Utilities Commission today unanimously approved Minnesota Power’s 15-year Integrated Resource Plan (IRP), the regulatory roadmap for the company’s Energy Forward   vision to provide 100% carbon-free energy by 2050 while
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Toggle Summary ALLETE, Inc. Reports Third Quarter Earnings; Expects 2022 Earnings Near Mid-Point of $3.60 - $3.90 Per Share Range
DULUTH, Minn. --(BUSINESS WIRE)--Nov. 9, 2022-- ALLETE, Inc. (NYSE: ALE) today reported third quarter 2022 earnings of 59 cents per share on net income of $33.7 million . Last year’s results were 53 cents per share on net income of $27.6 million . Quarter over quarter results reflect higher net
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Toggle Summary ALLETE Board of Directors declares dividend on common stock
DULUTH, Minn. --(BUSINESS WIRE)--Oct. 28, 2022-- The ALLETE, Inc. (NYSE:ALE) board of directors has declared a quarterly dividend of 65 cents per share of common stock. On an annual basis, the dividend is equivalent to $2.60 per share, unchanged from the previous quarter.
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Toggle Summary ALLETE to announce third quarter financial results Nov. 9
DULUTH, Minn. --(BUSINESS WIRE)--Oct. 7, 2022-- ALLETE Inc. (NYSE:ALE) will announce its financial results for the third quarter before the stock markets open on Wednesday, Nov. 9, 2022 . Following the release, ALLETE Chair, President and Chief Executive Officer Bethany M.
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Toggle Summary Leadership Roles Change as ALLETE Positions for Continued Success
DULUTH, Minn. --(BUSINESS WIRE)--Aug. 22, 2022-- ALLETE Inc. (NYSE:ALE) today announced several key leadership changes as the company continues to advance its sustainability in action strategy. This press release features multimedia. View the full release here:
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