ALLETE (NYSE:ALE) is continuing to be all in with its dividend. The company has declared its latest common stock distribution, which is to be $0.475 per share paid on Sept. 1 to shareholders of record as of Aug. 15. That amount matches the company's previous two payouts, the most recent of which was dispensed at the beginning of June. Before that, the company was less generous by a cent and a half, handing out $0.46 per share.
The just-declared dividend annualizes to $1.90 per share. That yields 3.6% at ALLETE's most recent closing stock price of $53.46.
The company is scheduled to unveil its Q2 results before market open on Thursday. Later that morning, at 10 a.m. Eastern time, management will host a conference to discuss the quarter.
Fool contributor Eric Volkman has no position in ALLETE. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools don't 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.