DTE Energy increases dividend

May 01, 2013, 08:00 ET from DTE Energy

DETROIT, May 1, 2013 /PRNewswire/ -- The DTE Energy (NYSE: DTE) Board of Directors has declared a $0.655 per share dividend on its common stock payable July 15, 2013, to shareholders of record at the close of business June 17, 2013. This is a $0.035 per share, or 5.6 percent increase, from the previous quarterly dividend of $0.62 per share.

"The decision to increase our dividend reflects DTE Energy's confidence in our growth strategy and in our continued commitment to increase shareholder value," said Gerard M. Anderson, DTE Energy's chairman, president and CEO. "We understand that dividends, as well as earnings growth, are a key component in providing a competitive return to shareholders."

DTE Energy is a Detroit-based diversified energy company involved in the development and management of energy-related businesses and services nationwide. Its operating units include DTE Electric, an electric utility serving 2.1 million customers in Southeastern Michigan, DTE Gas, a natural gas utility serving 1.2 million customers in Michigan and other non-utility, energy businesses focused on gas storage and pipelines, power and industrial projects, and energy trading. Information about DTE Energy is available at dteenergy.com, twitter.com/dte_energy and facebook.com/dteenergy.