The ex-dividend date for ALLETE (NYSE:ALE) is tomorrow, February 11, 2011. Owners of shares as of market close today will be eligible for a dividend of 44 cents per share. At a price of $37.72 as of 9:35 a.m., the dividend yield is 4.7%.
NEW YORK ( TheStreet) -- The ex-dividend date for ALLETE (NYSE: ALE) is tomorrow, February 11, 2011. Owners of shares as of market close today will be eligible for a dividend of 44 cents per share. At a price of $37.72 as of 9:35 a.m. ET, the dividend yield is 4.7%. The average volume for ALLETE has been 106,400 shares per day over the past 30 days. ALLETE has a market cap of $1.3 billion and is part of the utilities sector and utilities industry. Shares are up 1.2% year to date as of the close of trading on Wednesday. ALLETE, Inc., together with its subsidiaries, primarily engages in the generation, transmission, and distribution of electric power in the United States. The company operates in two segments, Regulated Operations, and Investments and Other. The company has a P/E ratio of 15.8, equal to the average utilities industry P/E ratio and below the S&P 500 P/E ratio of 23.5. TheStreet Ratings rates ALLETE as buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, good cash flow from operations, solid stock price performance and growth in earnings per share. We feel these strengths outweigh the fact that the company shows low profit margins. You can view the full ALLETE Ratings Report.