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Electric utility Wisconsin Energy (NYSE: WEC ) and its subsidiary Wisconsin Electric announced today their third-quarter dividends. The parent declared a dividend of $0.3825 per share, the same rate it paid last quarter after raising the payout 12.5%, from $0.34 per share. It marks the 285th consecutive quarter -- going all the way back to 1942 -- that the utility will have paid a dividend to its shareholders.
Its electric subsidiary declared a quarterly dividend on two series of preferred stock. It was to pay a dividend of $0.90 per share on its 3.60% Series preferred stock, and a quarterly dividend of $1.50 per share on the 6% preferred stock. The former will be payable on Dec. 1 to shareholders of record on Nov. 14, while the latter will be payable on January 1, 2014 to shareholders of record on January 14, 2014.
The board of directors said the regular quarterly dividend is payable on Dec. 1 to the holders of record at the close of business on Nov. 14. The regular dividend payment equates to a $1.53-per-share annual dividend, yielding 3.8% based on the closing price today of Wisconsin Electric's stock.