NiSource Increases Common Dividend
New annualized rate of 88 cents represents nearly 5% increase
Jan 27, 2021, 16:15 ET
MERRILLVILLE, Ind., Jan. 27, 2021 /PRNewswire/ -- The board of directors of NiSource Inc. (NYSE: NI) today declared a quarterly common stock dividend payment of 22 cents per share, payable Feb. 19, 2021 to stockholders of record at the close of business on Feb. 9, 2021. This represents an annualized common dividend payment of 88 cents per share, an increase of nearly 5% over the 2020 rate of 84 cents.
"This common dividend increase is consistent with our commitment to sustainably increase shareholder value," said NiSource President and CEO Joe Hamrock. "An increasing dividend is a key part of our overall value proposition. At the same time, we're balancing this increase with our need to fund significant near-term investment opportunities while continuing to target a 60 to 70 percent payout ratio."
The board also declared today a dividend of $406.25 per share on the corporation's 6.50% Series B Fixed-Rate Reset Cumulative Redeemable Perpetual Preferred Stock, equal to $0.40625 per depositary share, each representing a 1/1000th interest in a share of the Series B Preferred Stock, payable March 15, 2021 to stockholders of record at the close of business on Feb. 22, 2021.
About NiSource
NiSource Inc. (NYSE: NI) is one of the largest fully-regulated utility companies in the United States, serving approximately 3.2 million natural gas customers and 500,000 electric customers across six states through its local Columbia Gas and NIPSCO brands. Based in Merrillville, Indiana, NiSource's approximately 7,500 employees are focused on safely delivering reliable and affordable energy to our customers and communities we serve. NiSource is a member of the Dow Jones Sustainability - North America Index and the Bloomberg Gender Equality Index and has been named by Forbes magazine among America's Best Large Employers since 2016. Additional information about NiSource, its investments in modern infrastructure and systems, its commitments and its local brands can be found at www.nisource.com. Follow us at www.facebook.com/nisource, www.linkedin.com/company/nisource or www.twitter.com/nisourceinc. NI-F
SOURCE NiSource Inc.
