NiSource Inc. (NI) said Tuesday that its Board of Directors has approved a 4.3% increase in the company's dividend, resulting in an increase of the annualized dividend from $0.92 to $0.96 per share on NiSource common stock.
In accordance with the dividend increase, the NiSource Board declared a quarterly common dividend payment of $0.24 per share, payable on Aug. 20, to shareholders of record on July 31.
"NiSource's dividend action today is a testament to the significant progress we have made in executing on our investment-driven growth strategy," NiSource President & CEO Robert Skaggs Jr. said.
Skaggs noted that the NiSource Board has developed a general policy targeting a dividend payout in the range of 60% to 70% of net operating earnings per share.
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