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The Board of Directors of Xcel Energy Inc. (NASDAQ:XEL) today raised the quarterly dividend on the company's common stock from 52 cents per share to 54.75 cents per share, which is equivalent to an annual rate of $2.19 per share. The dividends are payable April 20, 2024, to shareholders of record on March 15, 2024.
"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, chairman, president and 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," said Frenzel.
Posted In: XEL
