The ALLETE, Inc. (NYSE:ALE) has declared its quarterly cash dividend of $0.44 per share of common stock. The company’s dividend on an annual basis is equal to $1.76 per share. The dividend remains unchanged from the previous quarter. The dividend will be payable on March 1 to common stock shareholders of record by the close of business on February 15, 2010.
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The company will release its 2009 financial results before the opening of the stock markets on Friday, February 12, 2010. The results will be posted on the company’s website, www.allete.com. A webcast of the following conference call will also be available on the company’s site. The call is scheduled to commence at 10:00 am ET that morning.
ALLETE, Inc. (ALLETE) provides energy services in the upper Midwest and has real estate holdings in Florida. It operates in two segments: Regulated Operations, and Investments and Other. Regulated Operations includes its regulated utilities, Minnesota Power and Superior Water, Light and Power Company (SWL&P), as well as its investment in American Transmission Company LLC (ATC), a Wisconsin-based regulated utility that owns and maintains electric transmission assets in parts of Wisconsin, Michigan, Minnesota and Illinois. Investments and Other is comprised primarily of BNI Coal, Ltd. (BNI Coal), its coal mining operations in North Dakota, and ALLETE Properties, its Florida real estate business. During the year ended December 31, 2008, the Company’s municipal customers represented 8 % of total regulated utility kilowatt-hour sales. Its municipal customers consist of 16 municipalities in Minnesota and one private utility in Wisconsin.
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