DTE Energy increases dividend nearly 6 percent
DETROIT, June 25, 2015 /PRNewswire/ -- The DTE Energy Board of Directors today declared a $0.73 per share dividend on its common stock payable Oct. 15, 2015, to shareholders of record at the close of business Sept. 21, 2015.
This is a $0.04 per share, or 5.8 percent, increase from the previous quarterly dividend of $0.69 per share and reflects the Board's and management's confidence in DTE's long-range growth plan. The new annualized dividend is $2.92.
"Today's action by our board to increase the dividend reiterates the confidence we have in our long-term growth objectives," said Gerard M. Anderson, DTE Energy's chairman and CEO. "I am proud of our track record of delivering value to our shareholders.
"We plan to continue to provide shareholders the value they seek through consistent earnings growth, an attractive dividend and a strong balance sheet," Anderson continued. "Having a strong dividend also helps us attract the investors we need to fund our capital investment program, which in turn supports improved service delivery and reliability for our customers."
This marks the sixth consecutive year of dividend increases, representing an average annual dividend increase of 5.5 percent, in line with the company's long-term earnings targets.
About DTE Energy
DTE Energy (NYSE: DTE) is a Detroit-based diversified energy company involved in the development and management of energy-related businesses and services nationwide. Its operating units include an electric utility serving 2.1 million customers in Southeastern Michigan and a natural gas utility serving 1.2 million customers in Michigan. The DTE Energy portfolio includes non-utility energy businesses focused on power and industrial projects, natural gas pipelines, gathering and storage, and energy marketing and trading. As one of Michigan's leading corporate citizens, DTE Energy is a force for growth and prosperity in the 450 Michigan communities it serves in a variety of ways, including philanthropy, volunteerism and economic progress. Information about DTE Energy is available at dteenergy.com, twitter.com/dte_energy and facebook.com/dteenergy.
SOURCE DTE Energy