WEC Energy Issues 2023 Earnings Guidance; To Raise Quarterly Dividend

(RTTNews) - WEC Energy Group (WEC) said it expects calendar year 2023 earnings to be in a range of $4.58 to $4.62 per share. The company noted that the midpoint of the range, $4.60 per share, represents growth of 6.7 percent from the midpoint of the original guidance for 2022.

The board of directors of WEC Energy Group is planning to raise the quarterly dividend on the company's common stock to 78 cents per share in the first quarter of 2023. This would represent an increase of 7.2 percent. The dividend — which would be equivalent to an annual rate of $3.12 per share — would be payable March 1, 2023, to stockholders of record on Feb. 14, 2023.

"The board's review today is consistent with our ongoing plan targeting a dividend payout ratio of 65 to 70 percent of earnings," said Gale Klappa, executive chairman.

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