WEC Energy Group Raises Quarterly Dividend From $0.78 To $0.835 Per Share
Portfolio Pulse from Benzinga Newsdesk
WEC Energy Group (NYSE:WEC) has announced a 7% increase in its quarterly dividend, from $0.78 to $0.835 per share, marking the 326th consecutive quarter of dividend payments since 1942. The new annual dividend rate will be $3.34 per share, payable on March 1, 2024, to shareholders of record as of February 14, 2024. This continues the company's 21-year streak of dividend increases, with a targeted payout of 65 to 70 percent of earnings.
January 18, 2024 | 8:02 pm
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WEC Energy Group has raised its quarterly dividend by 7%, from $0.78 to $0.835 per share, with a new annual rate of $3.34, maintaining a 21-year history of dividend growth.
Dividend increases are typically seen as a positive signal about a company's financial health and future prospects, often leading to a positive short-term impact on the stock price. Given WEC's long history of dividend payments and the continuation of its dividend growth strategy, this news is likely to be well-received by investors, particularly those focused on income. The increase in dividend also reflects management's confidence in the company's earnings stability.
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