ALLETE Increases Quarterly Common Stock Dividend by 3.3 Percent to 47.5
Cents Per Share
DULUTH, Minn. -- January 23, 2013
ALLETE, Inc. (NYSE: ALE) announced that its Board of Directors has increased
the quarterly dividend on the company’s common stock to 47.5 cents per share.
“This increase reflects our confidence in ALLETE’s near-term financial
performance and long-term earnings outlook, and our ongoing commitment to
building value for shareholders,” said ALLETE Chairman, President and CEO Al
Hodnik. “ALLETE’s Board of Directors recognizes the importance of dividends as
part of total shareholder return. We expect to continue paying an attractive
dividend as we execute our long-term growth strategy.”
The 3.3 percent increase results in the equivalent of a $1.90 per share
annualized dividend. ALLETE’s regular quarterly dividend is payable March 1 to
common shareholders of record at the close of business February 15, 2013.
ALLETE, Inc. is an energy company headquartered in Duluth, Minn. ALLETE’s
energy businesses include Minnesota Power, Superior Water, Light & Power Co.,
BNI Coal, and ALLETE Clean Energy. More information about the company is
available at www.allete.com.
The statements contained in this release and statements that ALLETE may make
orally in connection with this release that are not historical facts, are
forward-looking statements. Actual results may differ materially from those
projected in the forward-looking statements. These forward-looking statements
involve risks and uncertainties and investors are directed to the risks
discussed in documents filed by ALLETE with the Securities and Exchange
Tim Thorp, 218-723-3953
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