JACKSON, Mich., Jan. 17, 2019 /PRNewswire/ -- The Board of Directors of CMS Energy today increased the quarterly dividend on the company's common stock to 38.25 cents per share, up from 35.75 cents per share.
Based on Wednesday's closing price for CMS Energy common stock, $50.54, the dividend represents an annualized yield of 3 percent.
The first quarter dividend for the common stock is payable Feb. 28, 2019, to shareholders of record on Feb. 1, 2019.
Patti Poppe, CMS Energy's president and chief executive officer, said the Board's decision to increase the current dividend to $1.53 per share on an annualized basis reflects the successful execution of the company's business strategy.
"We continue to execute our Triple Bottom Line strategy of people, planet and profit," Poppe said. "We are taking actions to protect the environment, better serve our customers and strengthen our business, providing higher stock dividends that benefit our investors."
CMS Energy (NYSE: CMS) is a Michigan-based company that has an electric and natural gas utility, Consumers Energy, as its primary business and also owns and operates independent power generation businesses.
SOURCE CMS Energy