MGE Energy (MGEE) will raise its quarterly dividend by 4.7 percent to 38.75 cents per share in 2021. This follows a dividend hike of 5.0 percent to 37 cents per share in 2020 and marks the 46th consecutive year of dividend increases by the utility.

The next dividend is payable September 15, 2021, to shareholders of record September 1, 2021. A new annual rate of $1.55 per share yields 1.88% at a stock price of $82.46 for MGEE. The next ex-dividend date is August 31, 2021.

"Today’s dividend increase marks the company's 46th consecutive year of increasing its dividend, an accomplishment that everyone at MGE Energy can be proud of. We recognize the importance of dividend growth to the overall shareholder value proposition," Chairman, President and CEO Jeff Keebler said. "Today’s action by our board reinforces our long record of shareholder value through dividends and dividend growth and demonstrates the continued strength and resilience of MGE Energy's long-term business strategy in building your community energy company for the future."

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.