RAPID CITY, S.D. — Jan. 29, 2020 — Black Hills Corp. (NYSE: BKH) today announced that its board of directors declared a quarterly dividend on the common stock at a meeting held Jan. 29, 2020. Common shareholders of record at the close of business on Feb. 14, 2020, will receive $0.535 per share, payable March 1, 2020.
With this dividend approval by the board of directors, the company is on track to achieve an important dividend milestone in 2020 – 50 consecutive years of annual increases of the dividend.
“A record of paying dividends for 50 consecutive years is quite notable, achieving that many consecutive years of dividend increases is remarkable,”
“A record of paying dividends for 50 consecutive years is quite notable, achieving that many consecutive years of dividend increases is remarkable,” said Linn R. Evans, president and CEO of Black Hills Corp. “A dividend milestone like this, and the financial strength to support it, can only happen through the long-term strategic focus of our employee team meeting the needs of the customers and communities we serve. Our team is proud to celebrate in 2020 the milestone of 50 years of consecutive annual dividend increases, one of the longest track records in the electric and gas utility sector.”
Black Hills Corp. has paid dividends continuously since 1942, after the company we know today was incorporated as Black Hills Power and Light. The track record we celebrate in 2020 started in 1970, when the annual dividend was just $0.11 per share.
“The utility sector is a capital-intensive business and our shareholders provide necessary financing for the critical investments in our infrastructure systems, which in turn allows our customers’ to grow their businesses and improve their lives. Our strategy prioritizes investing for customers’ needs to drive long-term value for customers and shareholders alike,” concluded Evans.