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Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

ALLETE Board of Directors Declares Dividend on Common Stock

October 30, 2020 GMT

DULUTH, Minn.--(BUSINESS WIRE)--Oct 30, 2020--

The ALLETE, Inc. (NYSE:ALE) board of directors has declared a quarterly dividend of 61.75 cents per share of common stock.

On an annual basis the dividend is equivalent to $2.47 per share, unchanged from the previous quarter.

The regular quarterly dividend is payable December 1 to common stock shareholders of record at the close of business November 16, 2020.

ALLETE, Inc. is an energy company headquartered in Duluth, Minnesota. In addition to its electric utilities, Minnesota Power and Superior Water, Light and Power of Wisconsin, ALLETE owns ALLETE Clean Energy, based in Duluth; BNI Energy, based in Bismarck, N.D.; and has an 8 percent equity interest in the American Transmission Co. More information about ALLETE is available at www.allete.com. ALE-CORP

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The statements contained in this release and statements that ALLETE may make orally in connection with this release that are not historical facts, are forward-looking statements. These forward-looking statements involve risks and uncertainties and investors are directed to the risks discussed in documents filed by ALLETE with the Securities and Exchange Commission.

View source version on businesswire.com:https://www.businesswire.com/news/home/20201030005056/en/

CONTACT: Investor Contact:

Vince Meyer

218-723-3952

vmeyer@allete.com

KEYWORD: MINNESOTA UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: ALTERNATIVE ENERGY ENERGY UTILITIES OIL/GAS

SOURCE: ALLETE, Inc.

Copyright Business Wire 2020.

PUB: 10/30/2020 06:30 AM/DISC: 10/30/2020 06:31 AM

http://www.businesswire.com/news/home/20201030005056/en