ALLETE, Inc. (NYSE:ALE) Declares $0.73 Quarterly Dividend

ALLETE, Inc. (NYSE:ALE - Get Free Report) announced a quarterly dividend on Friday, April 25th, RTT News reports. Stockholders of record on Thursday, May 15th will be paid a dividend of 0.73 per share by the utilities provider on Sunday, June 1st. This represents a $2.92 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date of this dividend is Thursday, May 15th.

ALLETE has raised its dividend by an average of 3.8% annually over the last three years and has increased its dividend every year for the last 15 years. ALLETE has a dividend payout ratio of 67.6% meaning its dividend is sufficiently covered by earnings.

ALLETE Stock Performance

Shares of NYSE:ALE traded up $0.10 during trading on Wednesday, reaching $65.36. 124,302 shares of the stock were exchanged, compared to its average volume of 377,052. ALLETE has a 12 month low of $59.00 and a 12 month high of $65.99. The firm has a market cap of $3.79 billion, a PE ratio of 21.08 and a beta of 0.69. The stock has a 50-day moving average price of $65.26 and a 200-day moving average price of $65.04. The company has a current ratio of 1.08, a quick ratio of 0.69 and a debt-to-equity ratio of 0.50.

ALLETE (NYSE:ALE - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The utilities provider reported $0.87 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.02 by ($0.15). ALLETE had a return on equity of 5.97% and a net margin of 11.72%.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on shares of ALLETE in a report on Friday, January 10th. They issued a "hold" rating on the stock.

ALLETE Company Profile

ALLETE, Inc operates as an energy company. The company operates through Regulated Operations, ALLETE Clean Energy, and Corporate and Other segments. It generates electricity from coal-fired, biomass co-fired / natural gas, hydroelectric, wind, and solar. In addition, the company provides regulated utility electric services in northwestern Wisconsin to approximately 15,000 electric customers, 13,000 natural gas customers, and 10,000 water customers, as well as regulated utility electric services in northeastern Minnesota to approximately 150,000 retail customers and 14 non-affiliated municipal customers.