Xcel Energy (XEL) will raise its quarterly dividend by 6.4 percent to 45.75 cents per share in 2021. This follows a dividend hike of 6.2 percent to $0.43 per share in the first quarter of 2020 and marks 18 straight years of dividend increases by the utility company.
The next dividend is payable April 20, 2021, to shareholders of record on March 15, 2021. A new annualized dividend rate of $1.83 per share yields 2.5% at a stock price of $72.
Xcel Energy Inc. is a U.S. electric and natural gas delivery company, with operations in Western and Midwestern states, including Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas and Wisconsin. The company provides energy-related products and services to electricity customers and gas customers through its regulated operating companies. The company's four operating companies are: NSP-Minnesota, NSP-Wisconsin, PSCo (Public Service Company of Colorado) and SPS (Southwestern Public Service Co).