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MGE Energy Inc. reports developments for an investor-owned public utility holding company whose principal subsidiary, Madison Gas and Electric, generates and distributes electricity in Dane County, Wisconsin, and purchases and distributes natural gas in south-central and western Wisconsin.
Recurring news covers quarterly and annual earnings, electric and gas segment performance, rate-base investment, renewable generation and battery storage projects, regular common-stock dividends, investor communications, and capital-structure actions such as public equity offerings and related agreements.
MGE Energy, Inc. (Nasdaq: MGEE) released its annual Corporate Responsibility and Sustainability Report in its latest quarterly investor newsletter, 'Interim Report.' Highlights include a new newsletter schedule for 2023, third-quarter earnings, approval of EV managed charging pilots, and recognition as a Green Master for the ninth consecutive year. The newsletter aims to keep investors informed about MGE Energy and its subsidiary, Madison Gas and Electric. MGE Energy’s assets are valued at approximately $2.4 billion, with revenues around $607 million in 2021.
Madison Gas and Electric (MGE), in collaboration with We Energies and Wisconsin Public Service, received approval to purchase solar energy and battery storage from the Darien Solar Energy Center. MGE will own 25 MW of solar energy and 7.5 MW of battery storage, part of a larger 250-MW solar and 75-MW battery facility in Wisconsin. This project aligns with MGE's goal to reduce carbon emissions by at least 80% by 2030 and achieve net-zero carbon electricity by 2050, significantly increasing their renewable capacity. The facility is expected to start operations by the end of 2024.
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MGE Energy, Inc. (Nasdaq: MGEE) has released its third-quarter 2022 financial update, highlighting significant developments in its operations. The public utility holding company serves 159,000 electricity customers and 169,000 natural gas customers across Dane County and seven other counties in Wisconsin. The detailed financial update is available for review on their official website, providing insights into the company's performance and future outlook.
MGE Energy, Inc. (Nasdaq: MGEE) reported Q3 2022 earnings of $33.7 million ($0.93 per share), a decline from $34.9 million ($0.97 per share) in Q3 2021. Operating revenues increased to $163.4 million, up from $145.9 million. The company noted a decrease in earnings from its investment in ATC by $0.7 million due to complaints regarding return on equity. MGE aims for significant carbon reductions with plans for renewable generation capacity, targeting 80% carbon reduction by 2030.
The board of directors of MGE Energy (NASDAQ: MGEE) has announced a quarterly dividend of $0.4075 per share. This dividend will be payable on December 15, 2022, to shareholders on record as of December 1, 2022. MGE Energy has a strong history, having increased its dividends annually for the past 47 years and paid cash dividends for over 110 years. This consistent performance underscores the company's commitment to returning value to its shareholders.
MGE Energy, Inc. (Nasdaq: MGEE) celebrates 47 years of consecutive dividend increases in its investor newsletter, Inside View. The newsletter covers key topics such as MGE's investments in clean energy, its top ranking for electric reliability, and a recent safety award. MGE Energy, headquartered in Madison, Wisconsin, operates as an investor-owned public utility with assets totaling approximately $2.4 billion and revenues of around $607 million in 2021. The newsletter can be accessed on MGE Energy's website.
MGE Energy, Inc. (Nasdaq: MGEE) released its latest investor newsletter, highlighting key developments in renewable energy investments, including preparations for wind farm turbine construction and the reporting of second-quarter earnings. The newsletter also discusses the Board of Directors' adoption of a human rights statement and encourages customers to opt for paperless delivery for faster service. Investors can access the full report on MGE Energy's website.
MGE Energy, Inc. (Nasdaq: MGEE) has raised its quarterly dividend by approximately 5% to $0.4075 per share, effective Sept. 15, 2022, with a record date of Sept. 1, 2022. This increase marks the 47th consecutive year of dividend growth, raising the annual dividend to $1.63 per share. Chairman Jeff Keebler emphasized the company's commitment to shareholder value and its clean energy goals, aiming for net-zero carbon emissions by 2050 and an 80% reduction by 2030. MGE Energy has a legacy of over 110 years of cash dividend payments.
MGE Energy, Inc. (Nasdaq: MGEE) has released its second-quarter 2022 financial update, which is available on their website. MGE Energy operates primarily through its subsidiary, Madison Gas and Electric, serving 159,000 electricity customers and 169,000 natural gas customers across several counties in Wisconsin. The company's history spans over 150 years in the Madison area, highlighting its established presence in the local utility market.