Black Hills Corp. Increases Dividend Amidst Growth Strategy
Black Hills Corp. (NYSE: BKH) has taken a significant step in rewarding its shareholders by announcing an increase in its quarterly dividend. The company's board of directors approved a new dividend of $0.676 per share, reflecting an increase of $0.026 per share compared to the previous quarter. This increase highlights the company’s commitment to not only sustaining but also enhancing shareholder returns.
Confidence in Long-Term Growth
According to Linn Evans, the president and CEO of Black Hills Corp., this dividend increase is a testament to the confidence the board and management have in their strategy and long-term growth. The decision underscores the utility company's dedication to its customers and stakeholders, reinforcing its role as a reliable energy provider.
A Remarkable Dividend History
With this latest announcement, Black Hills Corp. continues its impressive track record of delivering value to its shareholders. The company now boasts a remarkable 55 consecutive years of annual dividend increases, securing its position as having one of the longest uninterrupted dividend histories in the electric and natural gas utility sector.
The Legacy of Dividend Payments
The recent dividend declaration marks the 83rd consecutive year that Black Hills has provided annual dividends to its shareholders. This legacy began back in 1942, when the predecessor company, Black Hills Power & Light Company, was newly incorporated. This rich history of consistent dividends signals stability and a steadfast commitment to shareholder value.
About Black Hills Corporation
Black Hills Corp. operates as a customer-focused and growth-oriented utility company, driven by a mission to enhance lives through energy solutions. The company serves approximately 1.34 million natural gas and electric utility customers across eight states, including Arkansas, Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota and Wyoming. Black Hills is dedicated to its mission of being the energy partner of choice, constantly seeking innovative ways to improve service quality and enhance customer satisfaction.
Looking Ahead
As Black Hills Corp. moves forward with its strategic initiatives, the increase in quarterly dividends reflects not only past successes but also a promising outlook for future growth. The leadership team is focused on sustainable practices while ensuring that the interests of shareholders remain a priority.
Frequently Asked Questions
What is the new quarterly dividend amount for Black Hills Corp.?
The new quarterly dividend amount is $0.676 per share, which is an increase from the previous quarter.
How long has Black Hills Corp. been increasing its dividends?
Black Hills Corp. has successfully increased its dividends for 55 consecutive years, showcasing a strong commitment to shareholder returns.
When will the new dividend be paid out?
The new dividend will be paid to shareholders of record at the close of business on February 18, with payment slated for March 1.
What markets does Black Hills Corp. serve?
Black Hills Corp. serves approximately 1.34 million customers across eight states, providing both natural gas and electric utility services.
Who can shareholders contact for more information?
Shareholders can reach out to Sal Diaz in Investor Relations at Black Hills Corp. for further inquiries, or contact the 24-hour Media Relations Line at 888-242-3969.
