MGE Energy hikes dividend for 42nd year

MGE Energy (MGEE) will raise its dividend by 4.9 percent.

The quarterly dividend will be increased to $0.3225 per share by utility company MGE Energy.

The dividend is payable Sept. 15, 2017, to shareholders of record Sept. 1, 2017.

"Today's action by our Board demonstrates confidence in our long-term strategy of providing solid returns for our shareholders," said Gary Wolter, MGE Energy's chairman. "Our dividend is supported by the financial strength of our company and our commitment to the dividend, which we have paid for more than one hundred consecutive years."

The current dividend yield for MGEE is 2% based on a stock price of $63.65.

MGE Energy is a public utility holding company. Its principal subsidiary, Madison Gas and Electric, generates and distributes electricity to customers in Dane County, Wis., and purchases and distributes natural gas to customers in south-central and western Wisconsin counties.

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