2020-12-03 13:18:39 WEC WEC Energy
12/03/20 12/0313:18 12/03/2013:18 | WEC Energy plans to increase dividend by 7.1%The board of directors of WEC Energy announced that it is planning to raise the quarterly dividend on the company's common stock to 67.75c per share in the first quarter of 2021. This would represent an increase of 4.5c per share, or 7.1%. The directors expect to declare the new dividend at their regularly scheduled meeting in January. The dividend - which would be equivalent to an annual rate of $2.71 per share - would be payable March 1, 2021, to stockholders of record on Feb.14, 2021. The projected dividend growth for 2021 is in line with the company's longer-term objective to grow earnings per share at a rate of 5%-7% annually, the company said. "The board's review today is consistent with our ongoing plan that targets a dividend payout ratio of 65 to 70 percent of earnings," added Gale Klappa, executive chairman. | |
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