MILWAUKEE, Jan. 17 /PRNewswire-FirstCall/ — The board of directors of Wisconsin Energy Corporation (NYSE:WEC) today declared a quarterly dividend of 27 cents a share on the company’s common stock — an increase of 2 cents a share or 8 percent.
The dividend is payable March 1, 2008, to stockholders of record on Feb. 14, 2008.
“This marks the fifth consecutive year that our board has raised the dividend,” said Gale Klappa, Wisconsin Energy chairman, president and chief executive. “Including today’s increase, the dividend has risen by 35 percent since 2004.”
He added that, “…the action by our board affirms the company’s underlying strength and the continued confidence we have in our long-term business plan.”
The new dividend is equivalent to an annual rate of $1.08 a share.Wisconsin Electric declares regular quarterly dividends
Also today, the board of directors of Wisconsin Electric Power Company declared a quarterly dividend of 90 cents a share on the Preferred Stock, 3.60% Series, payable March 1, 2008, to stockholders of record on Feb. 14, 2008. The board further declared a quarterly dividend of $1.50 a share on the Six Per Cent Preferred Stock payable April 30, 2008, to stockholders of record on April 14, 2008.
Wisconsin Energy Corporation (NYSE:WEC) , based in Milwaukee, is one of the nation’s premier energy companies, serving more than 1.1 million electric customers in Wisconsin and Michigan’s Upper Peninsula and more than 1 million natural gas customers in Wisconsin. The company’s principal utilities are We Energies and Edison Sault Electric. The company’s non-utility businesses include renewable energy technology and real estate development. Wisconsin Energy (http://www.wisconsinenergy.com/) has more than $11 billion of assets, 5,000 employees and more than 50,000 stockholders of record.
Wisconsin Electric Power Company, a principal utility subsidiary of Wisconsin Energy Corporation (NYSE:WEC) , is now doing business as We Energies. The company serves more than 1.1 million electric customers in Wisconsin and Michigan’s Upper Peninsula and 454,000 natural gas customers in Wisconsin. Visit the We Energies Web site at http://www.we-energies.com/.
First Call Analyst:
FCMN Contact:
Source: Wisconsin Energy Corporation
