NorthWestern Corporation (NWE) will raise its quarterly dividend by 3.3 percent to 62 cents per share in 2021. This follows a dividend hike of 4.3 percent to $0.60 per share in the first quarter of 2020 and marks 14 consecutive years of annual dividend increases by the company.

The next dividend is payable March 31, 2021 to common shareholders of record as of March 15, 2021. A new annual dividend rate of $2.48 per share yields 4.3% at a stock price of $56.97.

NorthWestern Corporation, doing business as NorthWestern Energy, provides electricity and / or natural gas to customers in Montana, South Dakota and Nebraska. The company operates in three business segments: electric utility operations; natural gas utility operations; and all other, which primarily consists of unallocated corporate costs. NorthWestern's customer base consists of a mix of residential, commercial, and diversified industrial customers. The company has generated and distributed electricity in South Dakota and distributed natural gas in South Dakota and Nebraska since 1923 and has generated and distributed electricity and distributed natural gas in Montana since 2002.