Ameren Corporation increases quarterly cash dividend by 7 percent, marking ten consecutive years of growth

Rhea-AI Summary

Ameren Corporation (NYSE: AEE) has declared a quarterly cash dividend of 63 cents per share, increasing by 7% from 59 cents per share. This marks the tenth consecutive year of dividend growth, bringing the annualized dividend rate to $2.52. The dividend is payable on March 31, 2023, to shareholders of record by March 15, 2023. Union Electric Company and Ameren Illinois Company also announced quarterly dividends on their preferred stock, payable on May 15, 2023 and May 1, 2023 respectively. Ameren maintains a payout ratio of 55% to 70% for future growth.

Positive

• 7% increase in quarterly dividend reflects healthy financial growth.
• The tenth consecutive year of dividend growth shows commitment to shareholders.
• Annualized dividend rate now at $2.52 per share indicates strong future earnings expectations.

Negative

• None.

News Market Reaction – AEE

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In the trading session that priced this news, AEE gained 2.13%, reflecting a moderate positive market reaction.

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New annualized rate is $2.52 per share

ST. LOUIS, Feb. 10, 2023 /PRNewswire/ -- The board of directors of Ameren Corporation (NYSE: AEE) today declared a quarterly cash dividend on its common stock of 63 cents per share, a 7% increase from the prior quarterly cash dividend of 59 cents per share, resulting in an annualized equivalent dividend rate of $2.52 per share. The previous annualized equivalent dividend rate was $2.36 per share.

"We are pleased to announce this is the tenth consecutive year we've increased our dividend," said Martin J. Lyons, Jr., president and chief executive officer of Ameren Corporation. "Today's increase affirms the Ameren Board of Directors' confidence in our sustained long-term growth strategy, which includes a robust pipeline of future investments that will continue to modernize the grid, enable our transition to a cleaner energy future, drive increasing value for our customers and provide strong returns for our shareholders."

Lyons said Ameren anticipates dividend growth will be in line with the company's long-term earnings-per-share growth expectations and within a payout ratio of 55% to 70%. Future earnings growth opportunities will be driven by cash flow, investments and other business considerations.

The common share dividend is payable March 31, 2023, to shareholders of record at the close of business on March 15, 2023.

Separately, the board of directors of Union Electric Company, doing business as Ameren Missouri, declared regular quarterly cash dividends on all classes of Union Electric Company's preferred stock. These preferred stock dividends are payable May 15, 2023, to shareholders of record at the close of business on April 21, 2023.

In addition, the board of directors of Ameren Illinois Company declared regular quarterly cash dividends on all classes of Ameren Illinois Company's preferred stock. These preferred stock dividends are payable May 1, 2023, to shareholders of record at the close of business on April 17, 2023.

About Ameren Corporation

St. Louis-based Ameren Corporation powers the quality of life for 2.4 million electric customers and more than 900,000 natural gas customers in a 64,000-square-mile area through its Ameren Missouri and Ameren Illinois rate-regulated utility subsidiaries. Ameren Illinois provides electric transmission and distribution service and natural gas distribution service. Ameren Missouri provides electric generation, transmission and distribution services, as well as natural gas distribution service. Ameren Transmission Company of Illinois operates a rate-regulated electric transmission business in the Midcontinent Independent System Operator, Inc. For more information, visit Ameren.com, or follow us on Twitter at @AmerenCorp, Facebook.com/AmerenCorp, or LinkedIn.com/company/Ameren.

Forward-looking Statements

Statements in this release not based on historical facts are considered "forward-looking" and, accordingly, involve risks and uncertainties that could cause actual results to differ materially from those discussed. Although such forward-looking statements have been made in good faith and are based on reasonable assumptions, there is no assurance that the expected results will be achieved. These statements include (without limitation) statements as to future expectations, beliefs, plans, projections, strategies, targets, estimates, objectives, events, conditions and financial performance. In connection with the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, we are providing this cautionary statement to identify important factors that could cause actual results to differ materially from those anticipated. In addition to factors discussed in this release, Ameren's Annual Report on Form 10-K for the year ended Dec. 31,2021, and its other reports filed with the Securities and Exchange Commission under the Securities Exchange Act of 1934 contain a list of factors and a discussion of risks which could cause actual results to differ materially from management expectations suggested in such "forward-looking" statements. All "forward-looking" statements included in this release are based upon information presently available, and Ameren, except to the extent required by the federal securities laws, undertakes no obligation to update or revise publicly any "forward-looking" statements to reflect new information or current events.

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SOURCE Ameren Corporation

FAQ

What is the new quarterly dividend for Ameren Corporation (AEE)?

Ameren Corporation has increased its quarterly dividend to 63 cents per share.

When is the dividend payment date for Ameren Corporation (AEE)?

The dividend is payable on March 31, 2023, for shareholders of record by March 15, 2023.

How much has the dividend increased for Ameren Corporation (AEE)?

The dividend has increased by 7% from the previous 59 cents per share.

What is the annualized dividend rate for Ameren Corporation (AEE) now?

The new annualized dividend rate is $2.52 per share.

What is the frequency of dividend payments for Ameren Corporation (AEE)?

Ameren Corporation pays dividends quarterly.