Welcome to our dedicated page for CMS ENERGY news (Ticker: CMS), a resource for investors and traders seeking the latest updates and insights on CMS ENERGY stock.
CMS Energy Corporation (NYSE: CMS) is a Michigan-based energy company whose primary business is Consumers Energy Company, an electric and gas utility. Consumers Energy is described as Michigan's largest energy provider, supplying natural gas and/or electricity to 6.8 million of the state's 10 million residents in all 68 Lower Peninsula counties. In addition to its regulated utility operations, CMS Energy owns and operates independent power generation businesses, including wholesale power generation with contracted renewable energy.
This news page aggregates company and subsidiary news releases and market announcements related to CMS Energy and Consumers Energy. Readers can follow updates on topics such as customer assistance initiatives, community investments, regulatory and legal developments, capital markets activity and financial performance. Recent news has highlighted Consumers Energy's programs to help customers manage energy costs, including a $5 million company-funded investment to support customers and communities across Michigan, as well as specific safeguards and bill credits for seniors to help them stay safe and warm during winter.
Other news items showcase the Consumers Energy Foundation's Prosperity Awards, which provide grant funding for community projects in Michigan, and environmental initiatives such as tree planting grants designed to improve safety and electric reliability by planting the right trees in the right places. Regulatory and planning topics also appear, including Consumers Energy's support for Michigan Public Service Commission orders that set guidelines for large-load customers like data centers and its intention to file an updated Energy Supply Plan covering natural gas, renewable resources and battery storage.
Investors and observers will also find CMS Energy corporate news, including announcements of quarterly financial results, adjustments to earnings guidance, dividend declarations on preferred stock and details of capital markets transactions such as convertible senior note offerings and tender offers for outstanding bonds. This page provides a centralized view of how CMS Energy and Consumers Energy communicate about operations, financial performance, customer programs and community engagement over time.
The Board of Directors of CMS Energy has declared a dividend of $0.2625 per depositary share on its 4.200% Cumulative Redeemable Perpetual Preferred Stock, Series C. This dividend is payable on April 15, 2023 to shareholders of record as of the close of business on April 1, 2023. CMS Energy, based in Michigan, operates Consumers Energy as its main business while also owning independent power generation facilities.
The Board of Directors of Consumers Energy, a subsidiary of CMS Energy (NYSE: CMS), declared a quarterly dividend of $1.125 per share on the $4.50 preferred stock (NYSE: CMS.PRB).
This dividend will be payable on April 1, 2023, to shareholders of record as of the close of business on March 6, 2023. CMS Energy, based in Michigan, operates independent power generation businesses alongside its utility services.
Consumers Energy is distributing 30,000 Google Nest smart thermostats to assist financially vulnerable natural gas customers in Michigan facing high heating costs. This initiative comes alongside a reminder of ongoing financial assistance for energy bills, as natural gas prices have decreased by 24% since October. The company also announced a $25 million contribution, including $15 million in automatic bill credits and $10 million in assistance for vulnerable households. Consumers Energy aims to minimize heating costs while promoting energy-saving practices among its customers.
Consumers Energy reported a significant achievement in 2022, with nearly 20% fewer customer outages compared to the previous year. This improvement followed extensive upgrades to their electric grid, including the completion of over 2,000 electric projects. The company reduced the duration of outages by nearly half, restoring over 96% of outages in under 24 hours. Key investments included the trimming of vegetation along more miles of lines, the inspection of over 30,000 miles of lines, and the replacement of 10,000 poles with sturdier materials. These efforts are part of a broader $5.4 billion Electric Reliability Plan aimed at enhancing grid resilience in Michigan.
The Board of Directors of CMS Energy has announced an increase in the quarterly dividend for common stock to 48.75 cents per share, up from 46 cents. This adjustment, effective February 28, 2023, signifies a commitment to delivering strong financial performance. Based on a closing price of $63.19, the increase results in an annualized yield of 3 percent. CEO Garrick Rochow stated that this decision reflects the successful execution of the company’s strategy and their confidence in delivering consistent results for investors. The annualized dividend now stands at $1.95 per share.
CMS Energy reported earnings per share of $2.85 for 2022, down from $4.66 in 2021. Adjusted EPS increased to $2.89 from $2.65 year-over-year. The company announced an 11-cent increase in the annual dividend to $1.95 for 2023. Additionally, CMS Energy raised its 2023 adjusted earnings guidance to a range of $3.06 to $3.12 per share and reaffirmed long-term adjusted EPS growth of 6% to 8%. CEO Garrick Rochow highlighted the company's strong performance and commitment to customers and investors. A webcast discussing these results is scheduled for February 2 at 9:30 a.m. EST.
CMS Energy has updated the tax status of its 2022 common stock dividends, originally announced on January 13, 2023. The dividend per share was set at 0.4600 with record dates on February 11, May 6, August 5, and November 4, 2022. All dividends paid in 2022 are classified as ordinary dividends, with 0.4324 designated as qualified dividends. Notably, 59% is categorized as a return of capital in multiple instances. Shareholders should consult tax advisors regarding their specific tax treatment. Additional details are available on the CMS Energy investor relations website.
Consumers Energy, based in Michigan, has announced a $25 million initiative to assist customers struggling with energy bills, consisting of $15 million in automatic bill credits for electric customers and $10 million targeted at low-income households. This contribution, approved by the Michigan Public Service Commission, highlights the company's commitment to supporting its customers, especially during the challenging winter months. Since the beginning of the previous year, Consumers Energy has provided over $37 million in aid for energy costs and basic needs.
Consumers Energy, based in Michigan, has announced a $25 million initiative to assist households and businesses struggling with energy bills. This contribution includes $15 million in automatic bill credits for electric customers and $10 million for financially vulnerable households, all approved by the Michigan Public Service Commission. Since the start of last year, the company has allocated over $37 million to help with energy bills. The automatic credits will be applied over the next 12 months, with no action required from customers. The initiative aims to alleviate challenges posed by inflation and rising energy costs.
CMS Energy, located in Michigan, announced the tax status of its 2022 common stock dividends on January 13, 2023. The dividends are allocated for U.S. federal income tax purposes, with a per-share dividend of $0.4600 for four payment dates. The record dates spanned from February 11, 2022, to November 4, 2022, with payment amounts varying between ordinary and capital gains. Notably, 59% of the dividends are classified as a return of capital. Shareholders are advised to consult tax advisors regarding their specific tax implications. For further details, visit www.cmsenergy.com.