Xcel Energy Inc. Increases Quarterly Dividend From $0.52 To $0.5475 Per Share
Portfolio Pulse from Benzinga Newsdesk
Xcel Energy Inc. (NASDAQ:XEL) has increased its quarterly dividend from $0.52 to $0.5475 per share, marking a 5.3% increase and the twenty-first consecutive year of dividend growth. The new annual dividend rate is $2.19 per share, with dividends payable on April 20, 2024, to shareholders of record as of March 15, 2024. The company also targets a long-term dividend payout ratio of 50-60% and aims for 5-7% annual growth in dividend and earnings per share.
February 21, 2024 | 5:09 pm
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Xcel Energy Inc. has raised its quarterly dividend to $0.5475 per share, a 5.3% increase, and aims for 5-7% annual growth in dividends and EPS.
The increase in dividend reflects positively on Xcel Energy's financial health and commitment to returning value to shareholders. This consistent growth in dividends, along with the company's long-term payout ratio target and growth objectives, is likely to attract income-focused investors and could lead to a positive short-term impact on the stock price.
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