Black Hills Corp. announces a quarterly dividend increase to $0.676 per share, marking 55 years of consecutive increases.
Quiver AI Summary
Black Hills Corp. has announced a quarterly dividend increase to $0.676 per share, up $0.026 from the previous quarter. Shareholders on record as of February 18, 2025, will receive this dividend on March 1, 2025. This increase is a testament to the company's confidence in its strategy and growth, marking 55 consecutive years of annual dividend increases, the second longest in the electric and natural gas utility industry. Additionally, it highlights 83 straight years of paying dividends since the company's inception in 1942. Based in Rapid City, South Dakota, Black Hills Corp. serves 1.34 million utility customers across eight states.
Potential Positives
- Black Hills Corp. has announced a quarterly dividend increase to $0.676 per share, demonstrating a commitment to returning value to shareholders.
- The increase marks 55 consecutive years of annual dividend increases, highlighting the company's stability and reliability in the utility industry.
- This dividend announcement signifies 83 consecutive years of annual dividends, showcasing a strong historical performance and dedication to shareholders.
- The positive message from the CEO reflects confidence in the company's strategy and long-term growth prospects, which may strengthen investor trust and interest.
Potential Negatives
- While the company announced a dividend increase, it may raise concerns about its capital allocation priorities, especially if it could hinder investment in essential infrastructure or growth initiatives.
FAQ
What is the new quarterly dividend per share announced by Black Hills Corp.?
The new quarterly dividend is $0.676 per share, an increase of $0.026 over the last quarter.
When will shareholders receive the dividend payment?
Shareholders will receive the dividend payment on March 1, 2025, if they are on record by February 18, 2025.
How many consecutive years has Black Hills Corp. increased its dividend?
Black Hills Corp. has increased its dividend for 55 consecutive years, showcasing its commitment to shareholders.
What is Black Hills Corp.'s history with annual dividends?
Black Hills has paid annual dividends for 83 consecutive years, dating back to February 1942.
In which states does Black Hills Corp. provide utility services?
Black Hills Corp. serves customers in Arkansas, Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota, and Wyoming.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
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Full Release
RAPID CITY, S.D., Jan. 24, 2025 (GLOBE NEWSWIRE) -- Black Hills Corp. (NYSE: BKH) today announced that its board of directors approved a quarterly dividend of $0.676 per share, an increase of $0.026 per share over last quarter’s dividend. Common shareholders of record at the close of business on Feb. 18, 2025, will receive $0.676 per share, payable March 1, 2025.
“This dividend increase reflects the confidence we have in our team, strategy and long-term growth,” said Linn Evans, president and CEO of Black Hills Corp.
The new annualized rate represents 55 consecutive years of annual dividend increases and is the second longest track record in the electric and natural gas utility industry.
This dividend announcement marks 83 consecutive years that Black Hills has paid annual dividends, starting in February 1942 when its predecessor company, Black Hills Power & Light Company, was newly incorporated.
Black Hills Corporation
Black Hills Corp. (NYSE: BKH) is a customer-focused, growth-oriented utility company with a tradition of improving life with energy and a vision to be the energy partner of choice. Based in Rapid City, South Dakota, the company serves 1.34 million natural gas and electric utility customers in eight states: Arkansas, Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota and Wyoming. More information is available at www.blackhillscorp.com.
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Sal Diaz
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