MGE Energy Boosts Dividend By 4.2%

By Markets MarketWatch Pulse

MGE Energy Inc. said Friday that it raised its quarterly dividend to 30.75 cents from 29.5 cents, a 4.2% increase. The new dividend is payable Sept. 15 to shareholders of record on Sept. 1. Shares of the public utility fell 1.4% in in afternoon trade. Based on current prices, the new dividend implies and annual yield of 2.2%, compared with the S&P 500 aggregate dividend yield of 2.1%. MGE's stock has run up 21% year to date, while the S&P 500 has gained 6.8%.

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