MGE Energy Raises Dividend for 49th Straight Year

By Bobby Samwell • Saturday, August 17 07:56 • Permanent Link

MGE Energy, Inc. (Nasdaq: MGEE) has announced an increase in its regular quarterly dividend rate by 5.3% to $0.45 per share on the outstanding shares of the company's common stock. This marks the 49th consecutive year of dividend increases, raising the annualized dividend rate from $1.71 per share to $1.80 per share.

Chairman, President, and CEO Jeff Keebler emphasized the company's commitment to providing regular, predictable, and sustainable dividend growth, reinforcing the strength and resilience of MGE Energy's long-term business strategy.

MGE Energy's subsidiary, Madison Gas and Electric (MGE), serves 163,000 electricity customers in Dane County, Wis., and provides natural gas to 176,000 customers in seven south-central and western Wisconsin counties.

The company has a strong track record, having paid cash dividends for more than 110 years and increasing its dividend annually for the past 49 years. This announcement reflects MGE Energy's focus on delivering value to its customers and shareholders while maintaining its mission to provide safe, reliable, affordable, and sustainable energy.

Following these announcements, the company's shares moved 1.6%, and are now trading at a price of $87.21. If you want to know more, read the company's complete 8-K report here.

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