The board of directors of WEC Energy declared a quarterly cash dividend of 83.50c per share on the company’s common stock, an increase of 7% over the current quarterly dividend of 78c per share. This raises the annual dividend rate to $3.34 per share. The higher dividend is payable March 1 to stockholders of record on Feb. 14. “With today’s action by our board, 2024 will be the twenty-first consecutive year of dividend increases for our stockholders. We continue to target a dividend payout of 65 to 70 percent of earnings,” said Gale Klappa, executive chairman.
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