Black Hills increases dividend for 45th consecutive year
The quarterly dividend will be raised by $0,015 to $0,405 per share, marking 45 years of consecutive annual dividend increases.
Based on Wednesday's closing price of $50,65 for Black Hills, the higher dividend represents an annualized yield of 3,2%.
"The dividend increase reflects our strategy of sharing our strong earnings growth with our shareholders, while also retaining capital to support investment opportunities that create long-term value," said David R. Emery, chairman, president and chief executive officer of Black Hills Corp. "We are proud of our 45 years of consecutive annual dividend increases, one of the longest records in the utility sector. It highlights the confidence we have in our business strategy and outlook for the future."
Black Hills Corp is a natural gas and electric utility with customers in Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota and Wyoming. The company generates wholesale electricity and produces natural gas, oil and coal.