Articles from ALLETE, Inc.

ALLETE, Inc. (NYSEALE) today announced that its Board of Directors has increased the quarterly dividend on the company’s common stock to $0.73 per share, a 3.5 percent increase.

ALLETE, Inc. (NYSEALE) announced today that Chief Financial Officer Steven W. Morris will retire later this year after a distinguished nearly 25-year career with the company. In the interim and as part of an orderly succession plan, Morris, 63, will remain with the company until July.

ALLETE, Inc. (NYSEALE) announced that the Federal Energy Regulatory Commission (FERC) approved the company’s proposed transaction with Canada Pension Plan Investment Board (CPP Investments) and Global Infrastructure Partners (GIP).

ALLETE, Inc. (NYSEALE) today reported third quarter 2024 earnings of 78 cents per share on net income of $45.0 million. Last year’s third quarter results were $1.49 per share on net income of $85.9 million. Net income for the same quarter in 2023 included approximately 71 cents per share for the favorable arbitration ruling involving a subsidiary of ALLETE Clean Energy. Net income for the third quarter this year included approximately 7 cents per share of transaction expenses related to the merger agreement entered into on May 5, 2024, with Canada Pension Plan Investment Board and Global Infrastructure Partners.

ALLETE Clean Energy, a wholly owned subsidiary of ALLETE, Inc. (NYSEALE), today announced the company has sold the Whitetail wind project in southwestern Wisconsin to Invenergy, with the intent that it be constructed and subsequently sold to WEC Energy Group utilities We Energies and Wisconsin Public Service Corp. (WPS) as well as Madison Gas and Electric Co. (MGE).

The ALLETE, Inc. (NYSEALE) board of directors has declared a quarterly dividend of 70.5 cents per share of common stock.

ALLETE, Inc. (NYSEALE) announced that its shareholders voted today to approve the company’s proposed transaction with Canada Pension Plan Investment Board (CPP Investments) and Global Infrastructure Partners (GIP) at a special meeting of shareholders.

ALLETE, Inc. (NYSEALE) today reported second quarter 2024 earnings of 57 cents per share on net income of $33.0 million. Last year’s second quarter results were 90 cents per share on net income of $51.5 million. Net income for the second quarter this year includes 25 cents per share of transaction expenses related to the merger agreement entered into on May 5, 2024, with Canada Pension Plan Investment Board and Global Infrastructure Partners, and a 4 cent per share negative impact due to mild weather. Net income for the same quarter in 2023 included approximately 8 cents per share for the favorable impact of an updated estimate for property taxes, and ALLETE Clean Energy recorded a 7 cent per share gain on the Red Barn wind generation facility.

First paragraph, first sentence of release dated July 25, 2024 should read: The ALLETE, Inc. (NYSEALE) board of directors has declared a quarterly dividend of 70.5 cents per share of common stock (instead of The ALLETE, Inc. NYSE:ALENYSEALE)

ALLETE, Inc. (NYSEALE) today reported first quarter 2024 earnings of 88 cents per share on net income of $50.7 million. Last year’s first quarter results were $1.02 per share on net income of $58.2 million. Net income in 2024 includes interim rate refund reserves of 7 cents per share due to Minnesota Power’s rate case settlement, a 6 cent per share negative impact due to warmer winter weather, and 2 cents per share of transaction expenses related to the recently announced merger.

ALLETE, Inc. (NYSEALE) and a partnership led by Canada Pension Plan Investment Board (“CPP Investments”) and Global Infrastructure Partners (“GIP”), (the “partnership”), today jointly announced that they have entered into a definitive agreement under which the partnership will acquire ALLETE for $67.00 per share in cash, or $6.2 billion including the assumption of debt.

Minnesota Power, a utility division of ALLETE Inc. (NYSEALE), has reached a settlement agreement on its 2024 electric rate proposal with the Minnesota Department of Commerce, Minnesota Attorney General’s Office and Large Power Intervenors.

The ALLETE, Inc. (NYSEALE) board of directors has declared a quarterly dividend of 70.50 cents per share of common stock.

ALLETE, Inc. (NYSEALE) has been named an Honor Roll company of Special Distinction in an annual report on gender diversity in the executive ranks and on the boards of directors of the largest publicly traded companies in Minnesota.

ALLETE, Inc. (NYSEALE) today reported 2023 earnings of $4.30 per share on net income of $247.1 million and operating revenue of $1.9 billion. Reported results from 2022 were $3.38 per share on net income of $189.3 million and operating revenue of $1.6 billion.

ALLETE, Inc. (NYSEALE) today announced that its Board of Directors has increased the quarterly dividend on the company’s common stock to $0.705 per share, a 4.1% percent increase.

ALLETE, Inc. (NYSEALE) and North Plains Connector LLC, a subsidiary of Grid United LLC, this week signed development agreements for the North Plains Connector project, a new, approximately 400-mile high-voltage direct-current (HVDC) transmission line from central North Dakota to Colstrip, Montana.

ALLETE, Inc. (NYSEALE) today reported third quarter 2023 earnings of $1.49 per share on net income of $85.9 million. Last year’s third quarter results were 59 cents per share on net income of $33.7 million.

The ALLETE, Inc. (NYSEALE) board of directors has declared a quarterly dividend of 67.75 cents per share of common stock.

ALLETE Inc. (NYSEALE) will announce its financial results for the third quarter before the stock markets open on Thursday, November 2, 2023.

ALLETE, Inc. (NYSEALE) today reported second quarter 2023 earnings of 90 cents per share on net income of $51.5 million. Last year’s second quarter results were 67 cents per share on net income of $37.6 million. Included in this year’s results were earnings from another strong quarter of financial results at New Energy, which was acquired in April 2022.

The ALLETE, Inc. (NYSEALE) board of directors has declared a quarterly dividend of 67.75 cents per share of common stock.

ALLETE, Inc. (NYSEALE) today reported first quarter 2023 earnings of $1.02 per share on net income of $58.2 million. Last year’s first quarter results were $1.24 per share on net income of $66.3 million.

The ALLETE, Inc. (NYSEALE) board of directors has declared a quarterly dividend of 67.75 cents per share of common stock.

ALLETE Inc. (NYSEALE) will announce its financial results for the first quarter before the stock markets open on Wednesday, May 3, 2023.

ALLETE, Inc. (NYSEALE) today reported 2022 earnings of $3.38 per share on net income of $189.3 million and operating revenue of $1.6 billion. Reported results from 2021 were $3.23 per share on net income of $169.2 million and operating revenue of $1.4 billion.

ALLETE, Inc. (NYSEALE) today announced that its Board of Directors has increased the quarterly dividend on the company’s common stock to $0.6775 per share, a 4.2% percent increase.

ALLETE, Inc. (NYSEALE) and Grid United today announced their intent to jointly develop the North Plains Connector, a new, approximately 385-mile high-voltage direct-current (HVDC) transmission line from central North Dakota to Colstrip, Montana.

ALLETE, Inc. (NYSEALE) today reported third quarter 2022 earnings of 59 cents per share on net income of $33.7 million. Last year’s results were 53 cents per share on net income of $27.6 million. Quarter over quarter results reflect higher net income for the Regulated Operations segment primarily due to interim rate revenue at Minnesota Power. Also impacting the quarter were ongoing inflation, supply chain challenges and transmission congestion resulting in lower earnings at ALLETE Clean Energy. Overall, results for the quarter were in line with expectations.

The ALLETE, Inc. (NYSEALE) board of directors has declared a quarterly dividend of 65 cents per share of common stock.

ALLETE, Inc. (NYSEALE) today reported second quarter 2022 earnings of 67 cents per share on net income of $37.6 million. Last year’s results were 53 cents per share on net income of $27.9 million. Included in this year’s quarterly results were transaction fees of $1.6 million after-tax, or 3 cents per share, and purchase price accounting impacts of $4 million after-tax, or 7 cents per share, related to the acquisition of New Energy Equity LLC.

The ALLETE, Inc. (NYSEALE) board of directors has declared a quarterly dividend of 65 cents per share of common stock.

ALLETE Inc.’s (NYSEALE) board of directors has elected Charles Matthews, retired president and chief executive officer of People’s Gas and North Shore Gas, to serve on the board effective July 6, 2022.

ALLETE, Inc. (NYSEALE) today reported first quarter 2022 earnings of $1.24 per share on net income of $66.3 million. Last year’s results were 99 cents per share on net income of $51.8 million.

The ALLETE, Inc. (NYSEALE) board of directors has declared a quarterly dividend of 65 cents per share of common stock.

ALLETE, Inc. (NYSEALE), today announced it has closed the previously announced acquisition of New Energy Equity, one of the nation’s top distributed solar developers, for approximately $165.5 million.

ALLETE, Inc. (NYSEALE) will announce its financial results for the first quarter before the stock markets open on Thursday, May 5, 2022.

ALLETE, Inc. (NYSEALE) (the “Company”) today announced the pricing of an underwritten public offering of 3,200,000 shares of its common stock at $63.00 per share. The size of the common stock offering was increased from the previously announced 2,950,000 shares. In conjunction with this offering, the underwriters have been granted an option to purchase up to an additional 480,000 shares of the Company’s common stock. The offering is expected to close on April 5, 2022, subject to customary closing conditions.

ALLETE, Inc. (NYSEALE) (the “Company”) today announced that it plans to commence an underwritten public offering of up to 2,950,000 shares of its common stock, subject to market conditions. In conjunction with this offering, the underwriters will be granted an option to purchase up to an additional 442,500 shares of the Company’s common stock.

ALLETE, Inc. (NYSEALE) today reported 2021 earnings of $3.23 per share on net income of $169.2 million and operating revenue of $1.4 billion. Reported results from 2020 were $3.35 per share on net income of $174.2 million and operating revenue of $1.2 billion.

ALLETE, Inc. (NYSEALE) today announced that Vice President and Chief Accounting Officer Steve Morris has been promoted to the position of senior vice president and chief financial officer. He succeeds Robert Adams, who recently announced his plan to retire in June of this year.

ALLETE, Inc. (NYSEALE) today announced that its Board of Directors has increased the quarterly dividend on the company’s common stock to 65 cents per share, a 3% percent increase.

ALLETE, Inc. (NYSEALE) today reported third quarter 2021 earnings of 53 cents per share on net income of $27.6 million. Last year’s results were 78 cents per share on net income of $40.7 million.

The ALLETE, Inc. (NYSEALE) board of directors has declared a quarterly dividend of 63 cents per share of common stock.

ALLETE, Inc. (NYSEALE) - announced today it is selling a portion of its ownership stake in the planned Nemadji Trail Energy Center (NTEC) to North Dakota-based Basin Electric Power Cooperative for approximately $20 million.

ALLETE, Inc. (NYSEALE) today reported second quarter 2021 earnings of 53 cents per share on net income of $27.9 million. Last year’s results were 39 cents per share on net income of $20.1 million. Results in the second quarter of 2020 included an $8.3 million after tax-charge, or 16 cents per share, for the Minnesota Power rate case resolution.

The ALLETE, Inc. (NYSEALE) board of directors has declared a quarterly dividend of 63 cents per share of common stock.

The ALLETE Inc. (NYSEALE) board of directors has named President and Chief Executive Officer Bethany M. Owen chair of the ALLETE board of directors effective May 11, 2021.

ALLETE, Inc. (NYSEALE) today reported first quarter 2021 earnings of 99 cents per share on net income of $51.8 million. Last year’s results were $1.28 per share on net income of $66.3 million. The timing of income taxes and operating and maintenance expense in 2021 negatively impacted the quarter compared to internal expectations by approximately 15 cents per share, which are expected to reverse during the remainder of the year. In addition, net income in 2021 included an approximately $5 million dollars, or 10 cents per share, negative impact related to ALLETE Clean Energy’s Diamond Spring wind energy facility due to an extreme winter storm event in the southern United States in February 2021.

ALLETE Clean Energy, a wholly owned subsidiary of ALLETE, Inc. (NYSEALE), has acquired the Red Barn wind project and signed an asset sales agreement with WEC Energy Group utility Wisconsin Public Service Corp. (WPS) and Madison Gas and Electric Co. (MGE).

The ALLETE, Inc. (NYSEALE) board of directors has declared a quarterly dividend of 63 cents per share of common stock.