WEC Energy Group Boosts Dividend by 6.9%, Upholding Shareholder Commitment and Stability

WEC Energy Group Increases Dividend, Reinforcing Commitment to Shareholders

WEC Energy Group announces a 6.9% increase in its quarterly cash dividend, raising it to 89.25 cents per share. This rise from the previous dividend of 83.50 cents marks a significant milestone for the company, elevating the annual dividend rate to $3.57 per share. The dividend will be payable on March 1, 2025, to stockholders recorded as of February 14, 2025. This adjustment signifies the company’s 330th consecutive quarter of dividend payouts, a streak that extends back to 1942. President and CEO Scott Lauber emphasizes that this increase not only enhances shareholder value but also exemplifies the company’s continued financial stability and commitment to sustainable growth.

WEC Energy Group serves approximately 4.7 million customers across Wisconsin, Illinois, Michigan, and Minnesota through its various utilities, including We Energies and Wisconsin Public Service. The company operates a robust infrastructure supported by around 34,000 stockholders and 7,000 employees, boasting assets that exceed $47 billion. This strong operational foundation allows WEC to maintain a target dividend payout ratio of 65 to 70 percent of its earnings, further assuring stakeholders of its ability to generate reliable returns. The company’s emphasis on consistent dividend growth—22 consecutive years—positions it as a stable player in the energy sector, attracting both individual and institutional investors.

In addition to its traditional utility services, WEC Energy Group is also making significant strides in renewable energy through its subsidiary, WEC Infrastructure LLC. This subsidiary owns and operates renewable generation facilities across multiple states, demonstrating WEC's commitment to diversifying its energy portfolio and investing in sustainable energy solutions. As a Fortune 500 company and a component of the S&P 500, WEC Energy Group navigates the complexities of the energy market while remaining cautious of the risks and uncertainties that could impact its future earnings and dividends.

In a related announcement, Wisconsin Electric Power Co., a subsidiary of WEC, declares a quarterly cash dividend of 90 cents per share on its Preferred Stock, alongside a $1.50 per share dividend on its Six Percent Preferred Stock. Both dividends reflect We Energies' commitment to delivering value to shareholders while effectively serving its large customer base of over 1.1 million electric customers and more than 490,000 natural gas customers throughout Wisconsin. For further details, stakeholders can visit the We Energies website.