JACKSON, Mich., Feb. 5, 2018 /PRNewswire/ -- The Board of Directors of CMS Energy today increased the quarterly dividend on the company's common stock to 35.75 cents per share, up from 33.25 cents per share.
Based on Friday's closing price for CMS Energy common stock, $43.48, the dividend represents an annualized yield of 3.3 percent.
The first quarter dividend for the common stock is payable Feb. 28, 2018, to shareholders of record on Feb. 16, 2018.
Patti Poppe, CMS Energy's president and chief executive officer, said the Board's decision to increase the current dividend to $1.43 per share on an annualized basis reflects the successful execution of the company's business strategy.
"We continue to execute our triple bottom line strategy of people, planet, profit, which allows us to strengthen our business while providing annual earnings growth and higher stock dividends that benefit our investors."
CMS Energy (NYSE: CMS) is a Michigan-based company that has an electric and natural gas utility, Consumers Energy, as its primary business and also owns and operates independent power generation businesses.
This news release contains "forward-looking statements" as defined in Rule 3b-6 of the Securities Exchange Act of 1934, Rule 175 of the Securities Act of 1933, and relevant legal decisions. The forward-looking statements are subject to risks and uncertainties. All forward-looking statements should be considered in the context of the risk and other factors detailed from time to time in CMS Energy's and Consumers Energy's Securities and Exchange Commission filings. Forward-looking statements should be read in conjunction with "FORWARD-LOOKING STATEMENTS AND INFORMATION" and "RISK FACTORS" sections of CMS Energy's and Consumers Energy's most recent Form 10-K and as updated in reports CMS Energy and Consumers Energy file with the Securities and Exchange Commission.
CMS Energy's and Consumers Energy's "FORWARD-LOOKING STATEMENTS AND INFORMATION" and "RISK FACTORS" sections are incorporated herein by reference and discuss important factors that could cause CMS Energy's and Consumers Energy's results to differ materially from those anticipated in such statements.
SOURCE CMS Energy