ALLETE Board of Directors Raises Common Stock Dividend.DULUTH, Minn. -- ALLETE, Inc. (NYSE NYSE See: New York Stock Exchange : ALE) today announced that its Board of Directors has increased the quarterly dividend on the company's common stock by 2.3 percent, to 44 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. . "This increase reflects our commitment to providing value for shareholders and the confidence we have in our long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. earnings potential," said Don Shippar, ALLETE Chairman, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . On an annual basis, the increased dividend is equivalent to $1.76 per share. The regular quarterly dividend is payable March 1 to common stock shareholders of record at the close of business Feb. 16, 2009. ALLETE's corporate headquarters are located in Duluth, Minnesota. More information about the company is available on ALLETE's Web site at www.allete.com. The statements contained in this release and statements that ALLETE may make orally in connection with this release that are not historical facts, are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . These forward-looking statements involve risks and uncertainties and investors are directed to the risks discussed in documents filed by ALLETE with the Securities and Exchange Commission. |
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