ALLETE Board Increases Dividend By 4.7%; Upward Revises Long-Term Growth Outlook

(RTTNews) - ALLETE, Inc. (ALE) announced its Board has increased the quarterly dividend on the company's common stock to 56 cents per share, an increase of 4.7 percent. On an annual basis, the increased dividend is equivalent to $2.24 per share. The regular quarterly dividend is payable March 1 to common shareholders of record at the close of business February 15, 2018.

"Consistent with this dividend action and our broader confidence in our future growth, we are also upward revising our stated annual average long-term earnings growth outlook from a 'minimum of 5 percent' to a 'range of 5-7 percent,'" said ALLETE, CEO and President Al Hodnik.