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

ALLETE, Inc. (NYSE:ALE - Get Free Report) announced a quarterly dividend on Friday, April 25th, RTT News reports. Investors of record on Thursday, May 15th will be given 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 yield of 4.48%. The ex-dividend date is Thursday, May 15th.

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

ALLETE Stock Up 0.1 %

Shares of ALE traded up $0.06 during midday trading on Monday, reaching $65.25. 160,285 shares of the company were exchanged, compared to its average volume of 377,203. 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 has a 1-year low of $59.00 and a 1-year high of $65.99. The company has a market cap of $3.78 billion, a price-to-earnings ratio of 21.05 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.

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

Analyst Upgrades and Downgrades

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

About ALLETE

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.