Xcel Energy raised the quarterly dividend on its common stock from 52c per share to 54.75c per share, which is equivalent to an annual rate of $2.19 per share. The dividends are payable April 20, to shareholders of record on March 15. “Today’s dividend increase of 5.3% marks the twenty first consecutive year that Xcel Energy has increased its dividend. It signals the strength of our business and our recognition of the importance of dividend growth to our shareholders,” said Bob Frenzel, CEO of Xcel Energy. “In addition, we have established a long-term dividend payout ratio target of 50-60 percent. Our dividend growth and earnings per share growth objectives remain 5-7 percent annually.”
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on XEL:
- Xos announces next generation Xos Hub, purchase order from Xcel Energy
- Xcel Energy price target raised to $68 from $67 at RBC Capital
- Xcel Energy Seeks Natural Gas Rate Hike in Colorado
- Here’s what Wall St. experts are saying about these automakers ahead of earnings
- Xcel Energy price target lowered to $61 from $62 at Barclays