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Wisconsin Energy targets dividend payout ratio of 60% in 2014

"Today's action by our board marks another positive step toward making ourdividend payout more competitive with our peers across the utility industry," said Gale Klappa, chairman, president and CEO. The board took two other significant actions. It affirmed a policy that calls for the company to reach a dividend payout ratio of 60% of earnings in 2014, and it adopted a policy that targets a dividend payout ratio that trends to 65%-70% of earnings in 2017. "This revised policy is consistent with our key financial goals: to maintain strong 'A' category credit ratings at our utilities and fund new investment opportunities without issuing additional shares of common stock," Klappa said.