mge energy inc (MGEE) Key Developments
MGE, Wisconsin Energy May Buy State Plants
Aug 30 14
MGE Energy Inc. (NasdaqGS:MGEE) and Wisconsin Energy Corp. (NYSE:WEC) have formed a joint venture that will consider bidding for state-owned power and heating plants. MGE and Wisconsin evaluate the advisability and feasibility of potentially bidding on generating assets owned by the State of Wisconsin, which might include the University of Wisconsin's interest in the UW-Madison's West Campus Cogeneration Facility, which MGE co-owns and operates. Should the State determine that the assets should be sold, the joint venture would decide on a case-by case basis whether to submit a bid. If the bid is successful, the joint venture would finance the acquisition and would own and manage the acquired assets. If those acquired assets include the State's interest in the West Campus Cogeneration Facility, Madison Gas would continue to operate those assets as it does currently.
MGE Energy Inc. Announces Quarterly Dividend Payable on Sept. 15, 2014
Aug 15 14
The board of directors of MGE Energy Inc. increased the regular quarterly dividend rate by 4.0% to $0.2825 per share on the company's common stock. The dividend is payable Sept. 15, 2014, to shareholders of record Sept. 1, 2014. This increase raises the annual dividend rate by 4 cents from $1.09 per share to $1.13 per share.
MGE Energy Inc. Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2014
Aug 6 14
MGE Energy Inc. reported unaudited earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported operating revenue of $128,765,000 compared to $128,288,000 a year ago. Operating income was $24,441,000 compared to $24,497,000 a year ago. Net income was $14,087,000 compared to $13,891,000 a year ago. Basic and diluted earnings per share were $0.41 compared to $0.40 a year ago.
For the six months, the company reported operating revenue of $339,010,000 compared to $295,525,000 a year ago. Operating income was $68,412,000 compared to $62,125,000 a year ago. Net income was $41,804,000 compared to $36,475,000 a year ago. Basic and diluted earnings per share were $1.21 compared to $1.05 a year ago.
MGE Energy Seeks Acquisitions
Jul 15 14
MGE Energy Inc. (NasdaqGS:MGEE) will consider acquisitions. MGE Energy Inc. has filed a shelf registration in the amount of $115.47 million. The net proceeds from the sale of newly issued shares of common will be used for repayment of short-term debt, repurchase, retirement or refinancing of other securities, future acquisitions and for investments in subsidiaries.
MGE Energy, Inc. Declares Regular Quarterly Dividend, Payable on June 15, 2014
May 20 14
The board of directors of MGE Energy Inc. declared the regular quarterly dividend of $0.2717 per share on the outstanding shares of the company's common stock, payable on June 15, 2014, to shareholders of record at the close of business June 1, 2014.