DETROIT, June 22, 2017 /PRNewswire/ -- The DTE Energy Board of Directors declared a $0.825 per share dividend on its common stock payable Oct. 15, 2017, to shareholders of record at the close of business Sept. 18, 2017.
The dividend signifies consistency and confidence in the Company's performance for the remaining half of 2017, and delivers on the 7.1 percent per share increase communicated in November 2016. This continues DTE Energy's reliable dividend history, having issued a cash dividend for more than 100 years.
In addition, DTE is targeting an annual dividend increase of approximately 7 percent through 2019 - higher than the 5.6 percent average dividend increase over the past five years. The targeted increases, which are subject to Board approval, signal confidence in the Company's growth plan and are intended to bring DTE Energy's dividend payout ratio in line with industry peers.
About DTE Energy
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 2.2 million customers in Southeastern Michigan and a natural gas utility serving 1.3 million customers in Michigan. The DTE Energy portfolio includes non-utility energy businesses focused on power and industrial projects, natural gas pipelines, gathering and storage, and energy marketing and trading. As one of Michigan's leading corporate citizens, DTE Energy is a force for growth and prosperity in the 450 Michigan communities it serves in a variety of ways, including philanthropy, volunteerism and economic progress. Information about DTE Energy is available at dteenergy.com, twitter.com/dte_energy and facebook.com/dteenergy.
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SOURCE DTE Energy