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 reports recurring developments across its Michigan energy business, with Consumers Energy as its principal utility subsidiary. Company news commonly covers earnings results and financial outlooks, common and preferred stock dividends, and updates tied to electric and natural gas service in Michigan.
Consumers Energy updates also include grid reliability, storm response technology, customer energy-efficiency and assistance programs, and regulatory discussions involving utility assets. CMS Energy also reports on its independent power generation businesses and capital-return actions involving listed common stock, preferred securities and depositary shares.
Consumers Energy has entered an agreement to purchase 140 megawatts of renewable energy from the Calhoun Solar Center, a project developed by Invenergy. This capacity is enough to power approximately 70,000 residential customers and will contribute significantly to Michigan's clean energy efforts. The solar center, with a total capacity of 200 megawatts, is expected to be completed by 2022. The proposed agreement will see Consumers Energy procure solar energy for 25 years. This initiative aligns with the company's aim to eliminate coal and achieve net zero carbon emissions by 2040.
Consumers Energy has dispatched nearly 50 workers to North Carolina to assist in power restoration efforts following severe storms affecting tens of thousands of customers. The teams consist of 15 crews from over 20 service centers in Lower Michigan and will support Duke Energy. Their trip is expected to last two days, potentially extending to assist neighboring states due to widespread damage. This initiative is part of the Great Lakes Mutual Assistance group, which coordinates power restoration among various electric providers.
The Board of Directors of Consumers Energy, a subsidiary of CMS Energy, announced a quarterly dividend of $1.125 per share on its $4.50 preferred stock, payable on April 1, 2021. Shareholders of record by the close of business on March 1, 2021 will receive this dividend. CMS Energy, based in Michigan, operates primarily in the electric and natural gas utility sectors.
Consumers Energy has commenced operations of the 166-megawatt Crescent Wind facility in Hillsdale County, Michigan, which will provide renewable energy to approximately 64,000 residents. This wind farm represents a $246 million investment and is part of Consumers Energy's strategy to enhance its clean energy portfolio, doubling its wind energy capacity compared to last year. The facility employs 11 full-time staff and will contribute to the company's Clean Energy Plan, aimed at achieving net-zero carbon emissions.
The Consumers Energy Foundation is reviving its 'Put Your Town on the Map' competition, offering $50,000 to support innovative projects in Michigan's small towns. Communities with populations under 10,000 can submit proposals until February 24. Ten finalists will pitch their ideas at the Small Town and Rural Development Conference, taking place virtually on April 13-14. Winning projects will receive grants of $25,000, $15,000, and $10,000. This initiative aims to foster community pride and attract visitors to local downtowns.
CMS Energy has disclosed the tax status of its 2020 common stock dividends. The dividends, amounting to $0.4075 per share, were paid on various dates throughout the year, including February 28, May 29, August 31, and November 30, 2020. Notably, there was no return of capital percentage reported for these dividends, indicating they are ordinary and qualified dividends. Shareholders are advised to consult their tax advisors for specifics regarding tax treatment. For further dividend details, investors can visit CMS Energy's website.
Consumers Energy, Michigan's largest energy provider and a subsidiary of CMS, has shared crucial safety and savings tips as cold temperatures are expected to hit the state. The company emphasizes safety and energy efficiency, offering strategies such as lowering heating costs by adjusting thermostats, maintaining heating systems, and sealing air leaks. They also highlight the importance of carbon monoxide safety and provide information on financial assistance for those struggling with energy bills. The company has allocated $21 million for community support since the COVID-19 pandemic began.
CMS Energy reported a 2020 earnings per share of $2.64, up from $2.39 in 2019. The adjusted earnings per share rose to $2.67, compared to $2.49 the previous year. For 2021, the company raised its adjusted earnings guidance to between $2.83 and $2.87, reflecting a growth outlook of 6% to 8%. CMS Energy committed over $80 million to assist customers during the pandemic and invested more than $700 million in clean energy infrastructure. The company aims to lead the transition to renewable energy.
CMS Energy has announced the appointment of Christine Wisniewski as Vice President of Operations Performance, effective February 1, 2021. Wisniewski, who has been with Consumers Energy since 2014, will guide the implementation of lean operating principles to enhance the company's performance in gas and electric operations. Her focus on data and operational strategy aims to improve customer service and system reliability. Wisniewski holds a Bachelor of Business Administration from the University of Michigan-Flint and a Six Sigma Blackbelt in Lean Operations.
Consumers Energy has announced a new $3 million initiative to aid Michigan residents struggling with energy bills, bringing total assistance during the pandemic to $21 million. This funding will support seven local nonprofits, expected to benefit thousands of households facing financial hardship. Additionally, the company has previously allocated $12 million to assist over 40,000 households and small businesses, along with other community support initiatives. Consumers Energy remains committed to keeping energy costs low for its customers.