Dividend Increase – WEC Energy Group (WEC)

Yesterday, January 17, the Board of Directors of WEC Energy Group announced a quarterly dividend increase of from $ 0.5525 to $ 0.59 per share that’s payable March 1, 2019 to holders of record February 14, 2019. The declared dividend represents a 6.79 percent increase from the prior quarterly rate.This marks the 306th consecutive quarter – dating back to 1942 – that the company will have paid a dividend to its stockholders.

"With today's action by our board, 2019 will be the sixteenth consecutive year of dividend increases for our stockholders," said Gale Klappa, chairman of the board and chief executive officer. "We will continue to target a dividend payout of 65 to 70 percent of earnings."

With current price $ 71.17 (today's open), this raise brings their dividend yield to 3.32%.

Since I own 15 shares of WEC, this will increase my portfolio's projected annual net dividend income by $ 1.68.

This increase rises my YOC to 3.95%. 

Summary of 2019 Dividend Increases / Cuts

No.	Ticker	Increase %	Net Increase	Net Increase
			€	$
1	TSX:CU	7.48%	8.14	9.93
2	O	2.04%	3.00	3.42
3	OKE	0.58%	0.65	0.75
4	WEC	6.79%	1.47	1.68
	TOTAL		€13.26	$15.77

Increases have been reported by deducting a 25.5% capital income tax.

Click here to see my portfolio holdings.

You can follow the development of my dividends here.

Full Disclosure: Long WEC

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