reports
ALLETE Recognized for Gender Diversity on Board and Among Executive Of...
DULUTH, Minn.--(BUSINESS WIRE)-- ALLETE, Inc. (NYSE:ALE) has been named an Honor Roll company of Special Distinction in an annual report on gender diversity in the executive ranks and on the boards of directors of the largest publicly traded companies in Minnesota. St. Catherine University conducts the research each year and the resulting report, called “,” is published by Twin Cities Business. For 2023, ALLETE was among nine companies to qualify for Special Distinction status and one of only three companies to have reached gender parity on both their boards and among their executive officer...
ALLETE to Announce First Quarter Financial Results May 9
DULUTH, Minn.--(BUSINESS WIRE)-- ALLETE Inc. (NYSE:ALE) will announce its financial results for the first quarter before the stock markets open on Thursday, May 9, 2024. Following the release, ALLETE Chair, President and Chief Executive Officer Bethany M. Owen, and Senior Vice President and Chief Financial Officer Steven W. Morris will present an overview of results and discuss other factors related to performance during a conference call beginning at 10 a.m. Eastern time. Interested parties may participate in the conference call live by registering at , or by accessing the listen-only webca...
ALLETE, Inc. reports 2023 earnings of $4.30 per share; clean energy tr...
DULUTH, Minn.--(BUSINESS WIRE)-- ALLETE, Inc. (NYSE: ALE) today reported 2023 earnings of $4.30 per share on net income of $247.1 million and operating revenue of $1.9 billion. Reported results from 2022 were $3.38 per share on net income of $189.3 million and operating revenue of $1.6 billion. “We are very pleased with our solid financial results in 2023 and our team’s execution of strategic initiatives that will drive strong earnings growth and investment in clean energy for years to come,” said ALLETE Chair, President, and Chief Executive Officer Bethany Owen. “ALLETE’s Sustainability in ...
Minnesota Power advances EnergyForward with request for proposals for ...
DULUTH, Minn.--(BUSINESS WIRE)-- Minnesota Power, a utility division of ALLETE Inc. (NYSE: ALE), has issued a Request for Proposals (RFP) for up to 400 megawatts of wind energy to come online by the end of 2027, an important milestone in advancing its EnergyForward vision for 100% carbon-free energy. The RFP follows Minnesota Power’s 2021 Integrated Resource Plan approved by the Minnesota Public Utilities Commission, which calls for the company to acquire up to 300 megawatts of solar energy that is being evaluated in a separate RFP and 400 megawatts of wind generation. The procurement of win...
ALLETE to announce 2023 financial results on February 20
DULUTH, Minn.--(BUSINESS WIRE)-- ALLETE Inc. (NYSE:ALE) will announce its financial results for 2023 before the stock markets open on Tuesday, February 20, 2024. Following the release, ALLETE Chair, President and Chief Executive Officer Bethany M. Owen, and Senior Vice President and Chief Financial Officer Steven W. Morris will present an overview of results and other factors related to performance, and discuss 2024 earnings guidance during a conference call beginning at 10 a.m. Eastern time. Interested parties may participate in the conference call live by registering at , or by accessing t...
ALLETE Board of Directors raises quarterly common stock dividend
DULUTH, Minn.--(BUSINESS WIRE)-- ALLETE, Inc. (NYSE:ALE) today announced that its Board of Directors has increased the quarterly dividend on the company’s common stock to $0.705 per share, a 4.1% percent increase. “This dividend increase reflects the ALLETE Board of Directors’ confidence in our growth outlook for ALLETE,” said ALLETE Chair, President and CEO Bethany Owen. “We are pleased to deliver another dividend increase to our shareholders – adding to our track record of more than 74 consecutive years of dividends paid.” On an annual basis the increased dividend is equivalent to $2.82 ...
ALLETE, Grid United sign development agreements for advancing new HVDC...
DULUTH, Minn.--(BUSINESS WIRE)-- ALLETE, Inc. (NYSE:ALE) and North Plains Connector LLC, a subsidiary of Grid United LLC, this week signed development agreements for the North Plains Connector project, a new, approximately 400-mile high-voltage direct-current (HVDC) transmission line from central North Dakota to Colstrip, Montana. The agreements outline each company’s roles and responsibilities as development of the North Plains Connector accelerates. ALLETE and Grid United had previously signed a memorandum of understanding in January 2023 to explore development opportunities for the North ...
Minnesota Power Advances EnergyForward with Request for Proposals for ...
DULUTH, Minn.--(BUSINESS WIRE)-- Minnesota Power, a utility division of ALLETE Inc. (NYSE: ALE), took an important step in advancing its EnergyForward vision for 100% carbon-free energy with the issuance of a Request for Proposals (RFP) for up to 300 megawatts of regional solar energy to come online by 2027. The RFP follows Minnesota Power’s 2021 Integrated Resource Plan approved by the Minnesota Public Utilities Commission, which calls for the company to acquire up to 300 megawatts of regional solar generation capacity. The procurement of solar through this RFP will increase Minnesota Power...
ALLETE, Inc. reports third quarter earnings of $1.49 per share; raises...
DULUTH, Minn.--(BUSINESS WIRE)-- ALLETE, Inc. (NYSE: ALE) today reported third quarter 2023 earnings of $1.49 per share on net income of $85.9 million. Last year’s third quarter results were 59 cents per share on net income of $33.7 million. “We are pleased with our solid financial results this quarter and the positive momentum going into the end of the year,” said ALLETE Chair, President, and Chief Executive Officer Bethany Owen. “We continue to deliver on our Sustainability in Action strategy, including our most recent announcement that Minnesota Power has been awarded a $50 million grant ...
ALLETE Board of Directors declares dividend on common stock
DULUTH, Minn.--(BUSINESS WIRE)-- The ALLETE, Inc. (NYSE:ALE) board of directors has declared a quarterly dividend of 67.75 cents per share of common stock. On an annual basis, the dividend is equivalent to $2.71 per share, unchanged from the previous quarter. The regular quarterly dividend is payable December 1 to common stock shareholders of record at the close of business November 15, 2023. ALLETE, Inc. is an energy company headquartered in Duluth, Minnesota. In addition to its electric utilities, Minnesota Power and Superior Water, Light and Power of Wisconsin, ALLETE owns ALLETE Clea...
DOE Awards $50 Million to Minnesota Power to Increase Reliability and ...
DULUTH, Minn.--(BUSINESS WIRE)-- The U.S. Department of Energy today awarded a to modernize its high-voltage direct current (HVDC) transmission system so it is ready to expand to meet future energy needs while increasing the reliability and resilience of the regional grid. Minnesota Power, an operating division of ALLETE (NYSE: ALE), was selected in a competitive process from among hundreds of applicants nationwide to receive the grant for its from the Grid Resilience and Innovation Partnerships Program, part of the federal Bipartisan Infrastructure Law. “Investments in transmission are ...
ALLETE to announce third quarter financial results November 2
DULUTH, Minn.--(BUSINESS WIRE)-- ALLETE Inc. (NYSE:ALE) will announce its financial results for the third quarter before the stock markets open on Thursday, November 2, 2023. Following the release, ALLETE Chair, President and Chief Executive Officer Bethany M. Owen, and Senior Vice President and Chief Financial Officer Steve W. Morris will present an overview of results and discuss other factors related to performance during a conference call beginning at 10 a.m. Eastern time. Interested parties may participate in the conference call live by registering at , or by accessing the listen-only w...
ALLETE, Inc. reports second quarter earnings of 90 cents per share; re...
DULUTH, Minn.--(BUSINESS WIRE)-- ALLETE, Inc. (NYSE: ALE) today reported second quarter 2023 earnings of 90 cents per share on net income of $51.5 million. Last year’s second quarter results were 67 cents per share on net income of $37.6 million. Included in this year’s results were earnings from another strong quarter of financial results at New Energy, which was acquired in April 2022. “We are very pleased with this quarter’s solid results,” said ALLETE Chair, President, and Chief Executive Officer Bethany Owen. “Through the first half of this year, we have also made significant progress i...
Minnesota Power, Great River Energy Advance Joint 345-kV Transmission ...
DULUTH, Minn.--(BUSINESS WIRE)-- Minnesota Power and Great River Energy today are filing an application for a Certificate of Need and Route Permit from the Minnesota Public Utilities Commission (MPUC) to build a high-voltage transmission line to bolster electric reliability in northern and central Minnesota. This press release features multimedia. View the full release here: Proposed route for the Northland Reliability Project subject to regulatory approval. (Photo: Business Wire) The Northland Reliability Project is an approximately 180-mile, double-circuit, 345-kilovolt (kV) transmission li...
ALLETE Board of Directors declares dividend on common stock
DULUTH, Minn.--(BUSINESS WIRE)-- The ALLETE, Inc. (NYSE:ALE) board of directors has declared a quarterly dividend of 67.75 cents per share of common stock. On an annual basis, the dividend is equivalent to $2.71 per share, unchanged from the previous quarter. The regular quarterly dividend is payable September 1 to common stock shareholders of record at the close of business August 15, 2023. ALLETE, Inc. is an energy company headquartered in Duluth, Minnesota. In addition to its electric utilities, Minnesota Power and Superior Water, Light and Power of Wisconsin, ALLETE owns ALLETE Clean...
ALLETE Clean Energy adds new customer segment through power purchase a...
DULUTH, Minn.--(BUSINESS WIRE)-- ALLETE Clean Energy, a wholly owned subsidiary of ALLETE, Inc. (NYSE: ALE), has entered a new customer segment after signing a 5-year power purchase agreement (PPA) to sell wind power to Seattle City Light, the company’s first municipal customer. Seattle City Light, among the top-ten largest municipal utilities in the nation with more than 493,000 customers in Seattle, will purchase power from ALLETE Clean Energy’s 50-megawatt Condon wind site in northern Oregon. The PPA also includes an agreement to jointly explore adding solar energy and/or energy storage c...
ALLETE to announce second quarter financial results August 8
DULUTH, Minn.--(BUSINESS WIRE)-- ALLETE Inc. (NYSE:ALE) will announce its financial results for the second quarter before the stock markets open on Tuesday, August 8, 2023. Following the release, ALLETE Chair, President and Chief Executive Officer Bethany M. Owen, and Senior Vice President and Chief Financial Officer Steve W. Morris will present an overview of results and discuss other factors related to performance during a conference call beginning at 10 a.m. Eastern time. Interested parties may participate in the conference call live by registering at , or by accessing the listen-only web...
Minnesota Power advances HVDC transmission system project to strengthe...
DULUTH, Minn.--(BUSINESS WIRE)-- To help ensure a reliable and resilient grid that can expand in the future, Minnesota Power this week outlined planned upgrades to its high-voltage, direct-current (HVDC) transmission system that delivers renewable wind energy from its Bison Wind Energy Center in North Dakota to customers in Minnesota. Minnesota Power, an operating division of ALLETE (NYSE:ALE), is filing a Certificate of Need and Route Permit on June 1 with the Minnesota Public Utilities Commission to replace aging critical infrastructure and modernize the terminal stations of its 465-mile H...
ALLETE advances most transformative growth strategy in company history
DULUTH, Minn.--(BUSINESS WIRE)-- With momentum on its side, ALLETE Inc.’s (NYSE:ALE) sustainability-in-action strategy is securing the company’s place as a national leader in the transition to a clean-energy future, ALLETE Chair, President and CEO Bethany Owen told investors at Tuesday’s virtual 2023 Annual Meeting of Shareholders. “ALLETE is once again the No. 1 investor in renewable energy, relative to market capitalization, among all U.S.-based publicly traded utilities,” Owen said. “For the second year in a row, that’s No. 1 in the nation for this company headquartered right here in Minn...
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