MGE Energy (MGEE) will raise its quarterly dividend by 4.4 percent to $0.3525 per share in 2019.

This marks the 44th consecutive year of dividend increases by the utility company and follows last year's 4.7 percent dividend hike.

The next dividend is payable September 15, 2019, to shareholders of record September 1, 2019. A new annual rate of $1.41 per share yields 1.9% at a stock price of 75.46.

"MGE Energy has paid dividends for more than one hundred years. We're committed to providing solid returns and building shareholder value," Chairman, President and CEO Jeff Keebler said. "Our board's action today to increase the regular quarterly dividend rate reflects confidence in our long-term business strategy for building your community energy company for the future."

In its press release MGE Energy states that it has increased the dividend annually for the past 44 years and has paid cash dividends for more than 100 years.

MGE Energy (Madison Gas and Electric) 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. MGE Energy has paid cash dividends for more than 100 years.