DTE Energy Increases Dividend
DETROIT, June 19, 2014 /PRNewswire/ -- The DTE Energy Board of Directors declared a $0.69 per share dividend on its common stock payable Oct. 15, 2014, to shareholders of record at the close of business Sept. 15, 2014. This is a $0.035 per share, or 5.3 percent, increase from the previous quarterly dividend of $0.655 per share and reflects the Board's and management's confidence in DTE's long-range growth plan.
This marks the fifth consecutive year of dividend increases since 2009 with an average annual dividend increase of 5.4 percent, in line with the company's stated long-term earnings targets.
"Dividends have been a significant component of DTE's total shareholder return and dividend growth is a key factor in our ongoing investor philosophy," said Gerard M. Anderson, DTE Energy's chairman and CEO. "Looking forward, we continue to target 5 percent to 6 percent earnings per share growth, with dividends growing in line with earnings."
DTE Energy (NYSE: DTE) is a Detroit-based diversified energy company involved in the development and management of energy-related businesses and services nationwide. Its operating units include an electric utility serving 2.1 million customers in Southeastern Michigan and a natural gas utility serving 1.2 million customers in Michigan. The DTE Energy portfolio also includes non-utility energy businesses focused on power and industrial projects, midstream services and energy trading. Information about DTE Energy is available at dteenergy.com, twitter.com/dte_energy and facebook.com/dteenergy.
SOURCE DTE Energy