CMS Energy's Board of Directors Increases Quarterly Dividend On Common Stock
By 6 Percent, To 25.5 Cents Per Share
JACKSON, Mich., Jan. 25, 2013
JACKSON, Mich., Jan. 25, 2013 /PRNewswire/ --The Board of Directors of CMS
Energy increased today the quarterly dividend on the company's common stock by
6 percent, to 25.5 cents per share, up from 24 cents per share.
Based on Thursday's closing price for CMS Energy common stock, $25.28, the
higher dividend represents an annualized yield of 4 percent.
The first quarter dividend for the common stock is payable Feb. 28, 2013 to
shareholders of record on Feb. 8, 2013.
John Russell, CMS Energy's president and chief executive officer, said the
Board's decision to increase the dividend to $1.02 per share on an annualized
basis reflects the underlying strength and successful execution of the
company's business strategy.
"We're making substantial capital investments to serve customers and improve
the environment, while creating value for our investors. Our prudent,
disciplined execution of this strategy allows CMS Energy to deliver
operational excellence and provide consistent financial results for
investors," Russell said.
"The common stock dividend increase announced today is the seventh increase in
as many years and keeps CMS Energy's payout ratio in line with the average of
our utility peers. Our long-term business plan calls for 5 percent to 7
percent annual earnings growth and we expect to continue to increase our
dividend as we execute our investment strategy and increase our earnings."
Russell said that CMS Energy's principal subsidiary, Consumers Energy, a
Michigan electric and natural gas utility, plans to invest about $7 billion in
its operations through 2017, making it the second-largest investor in the
CMS Energy (NYSE: CMS) is a Michigan-based company that has an electric and
natural gas utility, Consumers Energy, as its primary business and also owns
and operates independent power generation businesses.
This news release contains "forward-looking statements" as defined in Rule
3b-6 of the Securities Exchange Act of 1934, as amended, Rule 175 of the
Securities Act of 1933, as amended, and relevant legal decisions. The
forward-looking statements are subject to risks and uncertainties. They should
be read in conjunction with "FORWARD-LOOKING STATEMENTS AND INFORMATION" and
"RISK FACTORS" sections of CMS Energy's Form 10-K and Consumers Energy's Form
10-K each for the Year Ended December 31, 2011, and as updated in CMS Energy's
and Consumers Energy's Forms 10-Q for the Quarters Ended March 31, 2012, June
30, 2012, and Sept. 30, 2012.
CMS Energy's and Consumers Energy's "FORWARD-LOOKING STATEMENTS AND
INFORMATION" and "RISK FACTORS" sections are incorporated herein by reference
and discuss important factors that could cause CMS Energy's and Consumers
Energy's results to differ materially from those anticipated in such
For more information on CMS Energy, please visit our web site at:
SOURCE CMS Energy
Contact: Media Contacts: Jeff Holyfield, +1-517-788-2394 or Dan Bishop,
+1-517-788-2395; Investment Analyst Contact: CMS Energy Investor Relations,
Press spacebar to pause and continue. Press esc to stop.