Boston, MA 10/13/2014 (wallstreetpr) – Alliant Energy Corporation (NYSE:LNT) disclosed that it has been paying a dividend for the 276th straight quarter. The company said that its Board has given its permission to pay a quarterly dividend of 51 cents a share. It has maintained the same dividend rate for the four quarters. Given its recent past, an increase in the dividend rate can be expected in the next quarter.
The company has been lifting its dividend rate for the last ten consecutive years. As a result, the average dividend witnessed growth pace in the three-year and five-year periods.
Payment Of Dividend
In a statement, the Alliant Energy Corporation (NYSE:LNT) stated that it has fixed October 31 as the date of record for determining the shareholders’ name for the purpose of dividend payment. It said that it would pay a dividend on November 14 to all the eligible shareholders’. The stock would become ex-dividend on October 29.
The current dividend represented $2.04 a share on a yearly basis. Its dividend provided a yield of 3.60%, which was slightly lower than the five-year average dividend yield of 3.90%. However, the projected average dividend yield for the ten-year period was significantly higher at 7.44%.
The latest dividend payout ratio worked out to 56.00%, which was also lower than the five-year average dividend payout ratio of 61.00%. This could suggest that the company would be expected to increase the dividend rate probably in the next quarter.
Growth And History
Alliant Energy Corporation (NYSE:LNT) paid a dividend of 25 cents a share in 2004, as per the data from the Nasdaq. It increased it to 26.25 cents a share in October 2004 and then to 28.75 cents a share in January 2006. It was increased it to 31.75 cents a share in the following year. Dividend was further increased to 45 cents a share in 2012 and to 47 cents a share in 2013. In January, the company has lifted its dividend rate to 51 cents a share and maintained it for the fourth time.
As a result of steady increase in the dividend pace, the average growth pace for the three year was 6.20% while it was 6.28% for the five-year period.
