JACKSON, Mich., Feb. 2, 2023 /PRNewswire/ -- The Board of Directors of CMS Energy today increased the quarterly dividend on the company's common stock to 48.75 cents per share, up from 46 cents per share.
Based on Tuesday's closing price for CMS Energy common stock, $63.19, the dividend represents an annualized yield of 3 percent.
The first quarter dividend for the common stock is payable Feb. 28, 2023, to shareholders of record Feb. 13, 2023.
Garrick Rochow, CMS Energy's president and chief executive officer, said the board's decision to increase the current dividend to $1.95 per share on an annualized basis reflects the successful execution of the company's strategy.
"CMS Energy continues to deliver consistent industry-leading financial performance that benefits our investors, customers and the communities we serve," Rochow said. "Our increased dividend reflects our confidence that we will again deliver on our promises this year."
CMS Energy (NYSE: CMS) is a Michigan-based company that has an electric and natural gas utility, Consumers Energy, as its primary business. It also owns and operates independent power generation businesses.
SOURCE CMS Energy