MGE Energy, Inc. (MGEE) will raise its regular quarterly dividend by 4 percent to $0.2825 per share in 2014. This follows a 3.2 percent dividend hike by the utility company last year.

The company has increased its dividends annually for 39 consecutive years. The last three dividend increases approved by the board have been the largest percentage dividend increases over the past two decades.

MGE Energy is a public utility holding company. Its principal subsidiary, Madison Gas and Electric, generates and distributes electricity to customers in Dane County, Wis., and purchases and distributes natural gas to customers in south-central and western Wisconsin counties.