ALLETE INC. overview

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....

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: https://www.businesswire.com/news/home/20230804020172/en/ Proposed route for the Northland Reliability Project subject to regulatory approval. (Photo:...

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...

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...

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...

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...

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,...

ALLETE, Inc. (NYSE: ALE) today reported first quarter 2023 earnings of $1.02 per share on net income of $58.2 million. Last year’s first quarter results were $1.24 per share on net income of $66.3 million. “The entire ALLETE team’s execution of our Sustainability in Action strategy was excellent throughout the quarter, and we are excited about the year ahead,” said ALLETE Chair, President and Chief Executive Officer Bethany Owen. “New Energy is starting the first full year under ALLETE...