CMS Energy Raises Dividend 40%
Fri, Aug 6, 2:55 PM ET, by eDividendStocks.com
CMS Energy Corporation (CMS: 16.71 +3.21%) announced today that the company will increase their quarterly dividend by 40% to $.21 per share. Following the dividend increase, CMS shares will now yield an impressive 5.2% based on yesterday's closing price. CMS Energy typically only announces dividend increases in January, but the company wanted to reward investors with a higher dividend at the same time they updated their 5-year growth plan. John Russell, the president and chief executive officer of CMS Energy, said the increases in the quarterly dividend will bring the company’s dividend more in line with the industry and reflects the confidence that the company has in its “Growing Forward” strategy. “Despite reducing capital expenditures, the company will continue to invest heavily in Michigan to maintain and improve service to customers,” Russell said. “Along with investments to improve customer service, we’ll continue making substantial investments in energy efficiency, renewable energy, and environmental quality programs. We plan to remain Michigan’s leader in the development of clean, renewable energy.” CMS shares were up 3.7% on the positive dividend announcement and have gained nearly 7% since the beginning of the year. The dividend will be payable on November 30, 2010. Recommend This Article To Others:
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