|Bid||58.55 x 800|
|Ask||58.57 x 1000|
|Day's Range||58.41 - 60.08|
|52 Week Range||48.22 - 84.71|
|Beta (5Y Monthly)||0.35|
|PE Ratio (TTM)||17.21|
|Earnings Date||Feb 11, 2021 - Feb 15, 2021|
|Forward Dividend & Yield||2.47 (4.10%)|
|Ex-Dividend Date||Nov 13, 2020|
|1y Target Est||64.67|
ALLETE (NYSE: ALE) declared a dividend payable on December 1, 2020 to its shareholders as of October 30, 2020. It was also announced that shareholders of ALLETE's stock as of November 16, 2020 are entitled to the dividend. The stock is expected to become ex-dividend 1 business day(s) before the record date. ALLETE, which has a current dividend per share of $0.62, has an ex-dividend date scheduled for November 13, 2020. That equates to a dividend yield of 4.77% at current price levels.The Significance Of An Ex-Dividend Date An ex-dividend date is when a company's shares stop trading with its current dividend payout in preparation for the company to announce a new one. Usually, a company's ex-dividend date falls one business day before its record date. Investors should keep this in mind when purchasing stocks because buying them on or after ex-dividend dates does not qualify them to receive the declared payment. Newly declared dividends go to shareholders who have owned that stock before the ex-dividend date. Most ex-dividend dates operate on a quarterly basis.ALLETE's Dividend Payouts And Yields Over the past year, ALLETE has seen its dividend payouts and yields climb upward overall. Last year (November 14, 2019), the company's payout sat at $0.59, which has since increased by $0.03. ALLETE's dividend yield last year was 2.69%, which has since grown by 2.08%. Companies use dividend yields in different strategic ways. Some companies may opt to not give yields altogether to reinvest in themselves. Other companies may opt to increase or decrease their yield amounts to control how their shares circulate throughout the stock market.Click here to find details on ALLETE's previous dividends.See more from Benzinga * Click here for options trades from Benzinga * ALLETE: Q3 Earnings Insights(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
ALLETE's (ALE) third-quarter earnings are better than expected. However, lower sales to commercial and industrial customers adversely impact total electricity sales volume.
Certain statements contained in this conference call that are not descriptions of historical facts are forward-looking statements. Because such statements can include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, those discussed in filings made by the company with the Securities and Exchange Commission.