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Cleco raises dividend 2.5 cents, to about 36 cents

PINEVILLE, La. (AP) -- Cleco Corp., which runs an electric utility, said Thursday that it is raising its dividend 2.5 cents, or 7 percent to just over 36 cents.

The dividend is payable on May 15 to shareholders of record as of May 7.

It is the fifth time Cleco has raised its dividend in the past three years. Cleco's stock has risen 19 percent over the past 12 months.