DTE Energy (NYSE:DTE) is going to make its shareholders a little richer. The company has declared a dividend of $0.655 per share of its common stock. This will be dispensed on July 15 to shareholders of record as of June 17. This amount is almost 6% higher than the previous quarterly payout of $0.62, which was handed out in mid-April.
The firm quoted its CEO Gerard Anderson as saying the raise "reflects DTE Energy's confidence in our growth strategy and in our continued commitment to increase shareholder value."
The new dividend annualizes to $2.62 per share. That yields 3.6% at DTE Energy's current stock price of $72.44.
Fool contributor Eric Volkman has no position in DTE Energy. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.