, /PRNewswire/ -- The Board of Directors of today increased the quarterly dividend on the company's common stock by 7 percent, to per share, up from per share.
Based on Wednesday's closing price for common stock, , the dividend represents an annualized yield of 3.4 percent.
The first quarter dividend for the common stock is payable , to shareholders of record on .
, president and chief executive officer, said the Board's decision to increase the current dividend at per share on an annualized basis reflects the successful execution of the company's business strategy.
'We continue to make substantial capital investments that serve our customers and allow our company to grow while creating value for our investors. Our execution of this strategy allows to provide consistent financial results,' Russell said.
'Our long-term business plan calls for 5 percent to 7 percent annual earnings growth, and our quarterly common stock dividend has increased , or nearly 48 percent, since 2011. We expect to continue to increase our dividend as we execute our strategy and increase our earnings.'
Russell said that principal subsidiary, Consumers Energy, a electric and natural gas utility, plans to invest more than in its operations over the next 10 years, making it the second-largest investor in the state.
(NYSE: CMS) is a -based company that has an electric and natural gas utility, Consumers Energy, as its primary business and also owns and operates independent power generation businesses.
This news release contains 'forward-looking statements' as defined in Rule 3b-6 of the Securities Exchange Act of 1934, Rule 175 of the Securities Act of 1933, and relevant legal decisions. The forward-looking statements are subject to risks and uncertainties. All forward-looking statements should be considered in the context of the risk and other factors detailed from time to time in and Consumers Energy's filings. Forward-looking statements should be read in conjunction with 'FORWARD-LOOKING STATEMENTS AND INFORMATION' and 'RISK FACTORS' sections of Form 10-K and Consumers Energy's Form 10-K each for the year ended , and as updated in and Consumers Energy's subsequent Forms 10-Q.
and Consumers Energy's 'FORWARD-LOOKING STATEMENTS AND INFORMATION' and 'RISK FACTORS' sections are incorporated herein by reference and discuss important factors that could cause and Consumers Energy's results to differ materially from those anticipated in such statements.
Investors and others should note that and Consumers Energy post important financial information using the investor relations section of the website, www.cmsenergy.com and filings.
For more information on , please visit our website at www.cmsenergy.com.
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Media Contacts: Dan Bishop, 517/788-2395 or Brian Wheeler, 517/788-2394, Investment Analyst Contact: CMS Energy Investor Relations, 517/788-2590