JACKSON, Mich., Jan. 16, 2020 /PRNewswire/ -- The Board of Directors of CMS Energy today increased the quarterly dividend on the company's common stock to 40.75 cents per share, up from 38.25 cents per share.
Based on Wednesday's closing price for CMS Energy common stock, $64.70, the dividend represents an annualized yield of 2.5 percent.
The first quarter dividend for the common stock is payable Feb. 28, 2020, to shareholders of record Feb. 7, 2020.
Patti Poppe, CMS Energy's president and chief executive officer, said the board's decision to increase the current dividend to $1.63 per share on an annualized basis reflects the successful execution of the company's business strategy.
"CMS Energy continues to deliver on our Triple Bottom Line strategy, focusing on people, planet and profit. This allows us to produce strong financial results year after year to our investors, in addition to world-class performance to the customers we serve," Poppe said.
CMS Energy (NYSE: CMS) is a Michigan-based company that has an electric and natural gas utility, Consumers Energy, as its primary business. It also owns and operates independent power generation businesses.
For more information on CMS Energy, please visit our website at cmsenergy.com.
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SOURCE CMS Energy