WEC Energy raises dividend by 7.2% to $0.78, introduces EPS outlook for 2023

• WEC Energy (NYSE:WEC) declares $0.78/share quarterly dividend, 7.2% increase from prior dividend of $0.73.
• Forward yield 3.19%
• Payable March 1; for shareholders of record Feb. 14; ex-div Feb. 13.
• "The board's review today is consistent with our ongoing plan targeting a dividend payout ratio of 65 to 70 percent of earnings," said Gale Klappa, executive chairman.
• The company introduced earnings guidance for 2023, expected to be in a range of $4.58 to $4.62 per share vs. consensus of $4.61.
• See WEC Dividend Scorecard, Yield Chart, & Dividend Growth.

Comments

[rvt1046]

Will hold onto my utility stocks with WEC being one of them. Though I have sold overall at a gain 25 of my dividend payers. Too easy to get 4-5% now on up to two year CDs. I think the market will pull back in January. Too much govt and personal debt going on. More layoffs seem to be happening.

[kewgardens]

In the past, didn’t $WEC announce dividend increases in January? Or am I just imagining that?

[sd55]

Yippee! Inflation beater.

[usiah]

WEC comes through (again).

[DividendJoe]

Thank you for the raise, WEC 👍🏽

[Old Professor]

And earlier today the government concocted inflation number was reported as 7.1%.

[MathMan1959]

@Old Professor

The “real” div increase was around zero then.

[goose56]

Just looked at the WEC website; no mention of div increase yet

[goose56]

@goose56 I see it now.

[MathMan1959]

Good deal.

[LK106218]

Interesting that the WEC dividend increase is roughly equivalent to the year over year CPI change reported a short time ago. If a business doesn't raise by more than 5% over the course of the next 6 months, they are doing you no favor.

[Dale Roberts]

Not bad. In Canada we're getting used to 20%, 30%, 40% dividend increases and special dividends, ha ;)

Great sector, with the most generous levels of free cash flow in the market.

[coolcat28]

Not bad. In the United States we're used to winning the Stanley Cup every year.

[SunFunRum]

@coolcat28
I’m a Canadian, living in the US, and want to see that Stanley Cup streak end, but that was a hilarious comment! Well done.

[MathMan1959]

@SunFunRum Not this year as the best teams are US-based and have mostly American skaters.