Duluth-based business announces dividend
October 20, 2010 at 4:33 am in Duluth News Tribune
The board of directors for Allete Inc. announced today it has approved a quarterly dividend of 44 cents per share of common stock the same as investors were offered during the second quarter of the year. Continue Reading
I’m all about rewarding investors when the company is able to turn a profit.
But Allete is asking for rate increases, suggesting they can’t make ends meet with current revenue streams.
So explain to me why the customers get to suffer at the expense of investors? Just seems like bad regulation.
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Obamanomics, baby, obamanomics.
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It seems to me that the push for 20 percent renewable energy by 2020 is the push for the rate increase, but I think it is also amazingly inconceivable that they would offer a dividend while asking for a rate increase.
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