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ALE Allete dividend history, payout ratio & dates

  1. Stocks
  2. Utilities
  3. NYSE: ALE
  4. Dividend

Allete's most recent quarterly dividend was on Feb 14, 2024 (ex-date) with a cash dividend payment of $0.705 per share. On an annualized basis, the company has a current payout of $2.74 per share. This brings the dividend yield to 4.59% based on its recent close price. The latest dividend has increased by $0.03, or 4.1% from the previous payment.

Key dates

  • ALE last dividend date: Feb 14, 2024
  • ALE next dividend date: Not announced
Peer dividends: LNT XEL WEC DUK EXC AEE NEE
ALE dividend stats
DPS
$2.74
Dividend yield
4.59%
Payout ratio
63.5%
vs. Utilities sector
Dividend yield
3.54%
Payout ratio
65.4%

Dividend yield

What is Allete current dividend yield

ALE has a dividend yield of 4.59% which is higher than the Utilities sector, the industry and its peers average. If we compare it with the Utilities sector average of 3.54%, Allete's dividend yield is 30% higher. Historically ALE's dividend yield has averaged at 4.0% in the last 5 years, which is less than the current one.

Dividend history

What is ALE dividend payout history and dates

Allete has been paying dividends since 1994. ALE has issued four quarterly dividends in the last twelve months. The annualized DPS has increased by 4.2% for the last year. And since the stock price has gone down by 7% from a year ago, the dividend yield has increased by 12%.

Recent dividends

Ex-date Payment date Declared on Amount Type
Feb 14, 2024 Mar 1, 2024 Jan 26, 2024 $0.705 normal
Nov 14, 2023 Dec 1, 2023 Oct 27, 2023 $0.678 normal
Aug 14, 2023 Sep 1, 2023 Jul 31, 2023 $0.678 normal
May 12, 2023 Jun 1, 2023 Apr 27, 2023 $0.678 normal
Feb 14, 2023 Mar 1, 2023 Feb 3, 2023 $0.678 normal
Nov 14, 2022 Dec 1, 2022 Oct 28, 2022 $0.65 normal
Aug 12, 2022 Sep 1, 2022 Jul 28, 2022 $0.65 normal
May 13, 2022 Jun 1, 2022 $0.65 normal
Feb 14, 2022 Mar 1, 2022 Feb 3, 2022 $0.65 normal
Nov 12, 2021 Dec 1, 2021 Oct 29, 2021 $0.63 normal
Aug 13, 2021 Sep 1, 2021 Jul 29, 2021 $0.63 normal
May 13, 2021 Jun 1, 2021 Apr 29, 2021 $0.63 normal
Feb 12, 2021 Mar 1, 2021 Feb 4, 2021 $0.63 normal
Nov 13, 2020 Dec 1, 2020 Oct 30, 2020 $0.618 normal
Aug 13, 2020 Sep 1, 2020 Jul 30, 2020 $0.618 normal
May 14, 2020 Jun 1, 2020 Apr 30, 2020 $0.618 normal
Feb 13, 2020 Mar 1, 2020 Jan 31, 2020 $0.618 normal
Nov 14, 2019 Dec 1, 2019 Oct 24, 2019 $0.588 normal
Aug 14, 2019 Sep 1, 2019 Jul 25, 2019 $0.588 normal
May 14, 2019 Jun 1, 2019 Apr 24, 2019 $0.588 normal
Feb 14, 2019 Mar 1, 2019 Feb 1, 2019 $0.588 normal
Nov 14, 2018 Dec 1, 2018 Oct 25, 2018 $0.56 normal
Aug 14, 2018 Sep 1, 2018 Jul 27, 2018 $0.56 normal
May 14, 2018 Jun 1, 2018 Apr 25, 2018 $0.56 normal
Feb 14, 2018 Mar 1, 2018 Jan 24, 2018 $0.56 normal
Nov 14, 2017 Dec 1, 2017 Oct 25, 2017 $0.535 normal
Aug 11, 2017 Sep 1, 2017 Jul 27, 2017 $0.535 normal
May 11, 2017 Jun 1, 2017 Apr 26, 2017 $0.535 normal
Feb 13, 2017 Mar 1, 2017 Jan 25, 2017 $0.535 normal
Nov 10, 2016 Dec 1, 2016 Oct 28, 2016 $0.52 normal
Aug 11, 2016 Sep 1, 2016 Jul 28, 2016 $0.52 normal
May 12, 2016 Jun 1, 2016 Apr 21, 2016 $0.52 normal
Feb 11, 2016 Mar 1, 2016 Jan 22, 2016 $0.52 normal

Allete dividend payout ratio

What is Allete dividend payout ratio compared to the sector

Payout ratio

ALE has a payout ratio of 63.5% which is higher than the industry average but lower than the Utilities sector and its peers average. But in comparison with the Utilities sector average of 65.4%, Allete's payout ratio is only 2.9% lower.

Total amount of dividends paid per financial year (from cash flow)

ALE dividend vs peer dividends

How does ALE dividend compare to its peers' dividends
Name Dividend yield DPS Payout ratio
ALE Allete Inc 4.59% $2.74 63.5%
DUK Duke Energy CORP 4.15% $4.08 115.3%
EXC Exelon Corp 3.89% $1.46 62.4%
WEC Wec Energy Group Inc 3.89% $3.18 75.2%
XEL Xcel Energy Inc 3.85% $2.11 65.7%
LNT Alliant Energy Corp 3.69% $1.84 66.1%
AEE Ameren Corp 3.47% $2.56 58.3%
NEE Nextera Energy Inc 2.98% $1.92 53.1%

Frequently asked questions

Does Allete pay a dividend?

Yes, Allete has paid four dividends in the last 12 months. ALE has been paying dividends since 1994.

When is Allete's next dividend?

Currently ALE's next dividend date is unknown, however based on the recent dividend frequency we project that it will likely be in May 2024.

When was ALE's last dividend?

Allete's last dividend ex-date was on Feb 14, 2024. The dividend amount was $0.705 per share.

How much dividend does Allete pay (per share)?

On an annual basis ALE pays $2.74 per share.

What is Allete's dividend yield?

Currently Allete's dividend yield is 4.59%.

How often does Allete pay dividends?

Allete pays dividends quarterly.

What is Allete's dividend payout ratio?

The dividend payout ratio of Allete is 63.5%.

Does Allete pay a good dividend?

Allete's dividend yield is more than the Utilities sector average.