JACKSON, Mich., Jan. 21, 2021 /PRNewswire/ -- The Board of Directors of CMS Energy today increased the quarterly dividend on the company's common stock to 43.50 cents per share, up from 40.75 cents per share.
Based on Wednesday's closing price for CMS Energy common stock, $58.70, the dividend represents an annualized yield of 3 percent.
The first quarter dividend for the common stock is payable Feb. 26, 2021, to shareholders of record Feb. 5, 2021.
Garrick Rochow, CMS Energy's president and chief executive officer, said the board's decision to increase the current dividend to $1.74 per share on an annualized basis reflects the successful execution of the company's strategy.
"CMS Energy will remain committed in 2021 to our Triple Bottom Line strategy, focusing on people, planet and profit," Rochow said. "We've seen our approach lead to consistent industry-leading financial results that reward our investors, while we continue to deliver world-class performance for all stakeholders."
CMS Energy (CMS) - Get Report is a Michigan-based company that has an electric and natural gas utility, Consumers Energy, as its primary business. It also owns and operates independent power generation businesses.
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SOURCE CMS Energy