Allete's most recent quarterly dividend was on Aug 14, 2023 (ex-date) with a cash dividend payment of $0.678 per share. On an annualized basis, the company has a current payout of $2.68 per share. This brings the dividend yield to 5.32% based on its recent close price.
ALE has a dividend yield of 5.32% which is higher than the Utilities sector, the industry and its peers average. If we compare it with the Utilities sector average of 3.86%, Allete's dividend yield is 38% higher. Historically ALE's dividend yield has averaged at 3.8% in the last 5 years, which is less than the current one.
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% for the last year. And since the stock price has gone up by 0.7% from a year ago, the dividend yield has increased by 3.2%.
| Ex-date | Payment date | Declared on | Amount | Type |
|---|---|---|---|---|
| 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 |
ALE has a payout ratio of 78.7% which is higher than the Utilities sector, the industry and its peers average. In comparison with the Utilities sector average of 65.1%, Allete's payout ratio is 21% higher.
| Name | Dividend yield | DPS | Payout ratio |
|---|---|---|---|
| ALE Allete Inc | 5.36% | $2.68 | 78.7% |
| DUK Duke Energy CORP | 4.74% | $4.04 | 246.3% |
| WEC Wec Energy Group Inc | 3.96% | $3.07 | 71.5% |
| LNT Alliant Energy Corp | 3.87% | $1.79 | 68.4% |
| EXC Exelon Corp | 3.86% | $1.42 | 66.9% |
| XEL Xcel Energy Inc | 3.71% | $2.05 | 64.6% |
| NEE Nextera Energy Inc | 3.52% | $1.83 | 45.1% |
| AEE Ameren Corp | 3.45% | $2.48 | 57.8% |
Yes, Allete has paid four dividends in the last 12 months. ALE has been paying dividends since 1994.
Currently ALE's next dividend date is unknown, however based on the recent dividend frequency we project that it will likely be in November 2023.
Allete's last dividend ex-date was on Aug 14, 2023. The dividend amount was $0.678 per share.
On an annual basis ALE pays $2.68 per share.
Currently Allete's dividend yield is 5.32%.
Allete pays dividends quarterly.
The dividend payout ratio of Allete is 78.7%.
Allete's dividend yield is more than the Utilities sector average.