MGE ENERGY DL 1

MGE Energy increases its regular quarterly dividend by 7.0% to $0.5083 per share, equivalent to an annualized rate of $2.0332. The payment will be made on September 15, 2026 to shareholders of record on September 1, 2026. This marks the 51st consecutive year of a dividend increase; the company points to disciplined financial management and a long-term strategy. Subsidiary Madison Gas and Electric supplies electricity and gas customers in Wisconsin. » More on de.investing.com

MGE Energy's share fell 7% to $75.18 after setting a follow-on placement of about 3.3 million shares at $75.75 each, a discount of 6.2% to the closing price. The parent company sold 990,099 shares for $75 million and entered forward sale agreements with Morgan Stanley, Bank of America and JPMorgan covering about 2.3 million shares worth $175 million with a 20-month term. The company said it will use the net proceeds to repay short-term liabilities, to repurchase or refinance securities, for capital expenditures and for equity investments. Prior to the placement, the number of outstanding shares was about 36.8 million and the market capitalization was around $3 billion. » More on de.investing.com

MGE Energy announced a guaranteed placement of 3,300,331 common shares at $75.75 per share, representing a discount to the $80.80 price. 990,099 shares will be issued directly to the syndicated banks; 2,310,232 shares will be borrowed from sellers and sold under forward transactions. The banks were granted a 30-day option to purchase up to 495,049 additional shares. The forward transactions contemplate an initial sale price of $72.9094 and are to be settled no later than within 20 months. Net proceeds from the direct sale are expected to be used for general corporate purposes; the company will not initially receive proceeds from the forward-sold shares. » More on de.investing.com