MILWAUKEE, WI (STL.News) The board of directors of WEC Energy Group (NYSE: WEC) today declared a quarterly cash dividend of 67.75 cents per share on the company’s common stock, an increase of 7.1 percent over the current quarterly dividend of 63.25 cents a share. This raises the annual dividend rate to $2.71 a share.
The higher dividend is payable March 1, 2021, to stockholders of record on Feb. 14, 2021. This marks the 314th consecutive quarter — dating back to 1942 — that the company will have paid a dividend to its stockholders.
“With today’s action by our board, 2021 will be the eighteenth consecutive year of dividend increases for our stockholders,” said Gale Klappa, executive chairman. “We continue to target a dividend payout of 65 to 70 percent of earnings.”
WEC Energy Group (NYSE: WEC), based in Milwaukee, is one of the nation’s premier energy companies, serving 4.5 million customers in Wisconsin, Illinois, Michigan and Minnesota.