The ex-dividend date for ALLETE (NYSE:ALE) is Monday, February 13, 2012. Owners of shares as of market close today will be eligible for a dividend of 46 cents per share. At a price of $41.76 as of 9:30 a.m., the dividend yield is 4.4%.
NEW YORK ( TheStreet) -- The ex-dividend date for ALLETE (NYSE: ALE) is Monday, February 13, 2012. Owners of shares as of market close today will be eligible for a dividend of 46 cents per share. At a price of $41.76 as of 9:30 a.m. ET, the dividend yield is 4.4%. The average volume for ALLETE has been 213,800 shares per day over the past 30 days. ALLETE has a market cap of $1.51 billion and is part of the utilities sector and utilities industry. Shares are down 0.5% year to date as of the close of trading on Thursday. ALLETE, Inc., together with its subsidiaries, primarily engages in the generation, transmission, and distribution of coal-fired, hydro, wind, and biomass co-fired 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 16.7, above the average utilities industry P/E ratio of 16.4 and below the S&P 500 P/E ratio of 17.7.
TheStreet Ratings rates ALLETE as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, increase in net income and notable return on equity. We feel these strengths outweigh the fact that the company shows weak operating cash flow. You can view the full ALLETE Ratings Report. See our dividend calendar or top-yielding stocks list.