The board of directors of WEC Energy Group declared a quarterly cash dividend of 72.75 cents per share on the company’s common stock, an increase of 7.4 percent over the current quarterly dividend of 67.75 cents per share. This raises the annual dividend rate to $2.91 per share.
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The higher dividend is payable March 1, 2022, to stockholders of record on Feb. 14, 2022. This marks the 318th consecutive quarter — dating back to 1942 — that the company will have paid a dividend to its stockholders.
“With today’s action by our board, 2022 will be the nineteenth 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.”
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WEC Energy Group, based in Milwaukee, is one of the nation’s premier energy companies, serving 4.6 million customers in Wisconsin, Illinois, Michigan and Minnesota.
The company’s principal utilities are We Energies, Wisconsin Public Service, Peoples Gas, North Shore Gas, Michigan Gas Utilities, Minnesota Energy Resources and Upper Michigan Energy Resources. Another major subsidiary, We Power, designs, builds and owns electric generating plants. In addition, WEC Infrastructure LLC owns a growing fleet of renewable generation facilities in the Midwest.
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