Alliant Energy Corp. has announced that the Board of Directors has approved an increase in the company's quarterly common stock dividend from $0.2625 per share to $0.2875 per share, which is equivalent to an annual dividend of $1.15 per share. The Board declared the first quarter dividend payable on Feb. 15 to shareowners of record on Jan. 31. Dividends on common stock have been paid for 241 consecutive quarters since 1946.
"The Board is pleased to announce this dividend increase," said Bill Harvey, president and chief executive officer of Alliant Energy. "This increase is a step toward our previously stated policy of targeting a dividend payout ratio of 60 to 70 percent of utility earnings and reflects our confidence in the sustainability of the improvements we have made in the financial profile of the company."
"We understand the importance of providing shareowners with a strong return on their investments," Harvey added. "So it's quite satisfying to raise the quarterly dividend by almost 10 percent while remaining committed to meeting the ongoing capital requirements of the company and growing our earnings."