ALLETE (ALE) will raise its quarterly dividend to $0.535 per share. The increased quarterly dividend is payable March 1 to common shareholders of record at the close of business February 15, 2017.

"This increase is supported by ALLETE's solid financial position and continues our long history of returning value to shareholders," said ALLETE Chairman, CEO and President Al Hodnik. "ALLETE's Board of Directors is committed to a sustainable dividend that allows for future increases."

ALLETE is an energy company headquartered in Duluth, Minn. In addition to its electric utilities, Minnesota Power and Superior Water, Light and Power of Wisconsin, ALLETE owns ALLETE Clean Energy, based in Duluth, U.S. Water Services headquartered in St. Michael, Minn., BNI Energy in Center, N.D., and has an eight percent equity interest in the American Transmission Co.