Assoc. Press is back into their left wing sloppy, inaccurate reporting. They just came out with a story saying that XEL CEO Richard Kelly "EARNED" five million dollars. That's absolutely a false statement! He didn't EARN half that! It was in effect stolen from the stockholders.
IMO Richard Kelly earns the salary that he is paid.
I built a position in XEL almost exclusively because Kelly is at the helm.
He was running NRG during ENE induced liquidity crisis for utilities. He took over XEL when NRG was still a for profit subsidiary. He really tried to hold onto that asset. When he realized that it wasn't going to work (the banks would not co-operate) he had to shift gears quickly and protect XEL from potential ruinous losses as NRG was restructured. That took a huge amount of management skill and flexibility.
XEL shares briefly dropped to $8 (look at the scar on the long term chart -
The dividend was suspended and the reinstated at half the then current rate. But company survived as a regulated monopoly (its roots) and resumed slow but steady growth in revenues and dividend rate. I started buying back then. I feel very comfortable with Kelly running the show. XEL has been a good investment since 2003.
LT holders saw their shares diluted and their dividend stream cut from 37.5 cents a quarter to half of that. But divy now back to 23 cents a quarter and due for another penny increase.
You are analyzing to much. I don't suggest Kelly even keep his job. I suggest he is getting the big bucks based on what he does with XEL earnings according to what Liberals like to see done with those earnings.
In the eyes of Lefties, he is worth 5.8 million. This is considered work worth rewarding by lefties running XEL. When the lights go out, they will say Republicans did not let Kelly invest enough cash into batteries.