CMS Energy Corp. (CMS) said that its board has increased the quarterly dividend by 20% to $0.15 per share from $0.125 per share.
The first quarter dividend for the common stock is payable Feb. 26, to shareholders of record on Feb. 8.
David Joos, CMS Energy's president and chief executive officer, said the Board's decision to increase the dividend for the third consecutive year was based on the company's improving financial strength and the fundamental soundness of its business strategy.
The board also declared a quarterly dividend of $0.56 cents for the company's 4.50% cumulative convertible preferred stock, Series B. It is payable March 1, to shareholders of record on Feb. 15.
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