WEC ENERGY GROUP RAISES QUARTERLY DIVIDEND BY 7.4 PERCENT
The Board of Directors of WEC Energy Group declared a quarterly cash dividend of 72.75 cents per share on the company's common stock, an increase of 7.4 percent over the current quarterly dividend of 67.75 cents per share. This raises the annual dividend rate to $2.91 per share. The higher dividend was paid on March 1, 2022, to stockholders of record on February 14, 2022. This marks the 318th consecutive quarter, dating back to 1942, that the company will have paid a dividend to its stockholders.

WEC ENERGY GROUP POSTS 2021 RESULTS
WEC Energy Group has reported net income of $1.3 billion, or $4.11 per share, for 2021. This compares to earnings of $1.2 billion, or $3.79 per share, for 2020 — a year-over-year increase of 8.4 percent. For the fourth quarter of 2021, WEC Energy Group recorded net income of $224.2 million, or 71 cents per share. This compares to earnings of $239 million, or 76 cents per share, for the fourth quarter of 2020. Consolidated revenues totaled $8.3 billion for 2021, up $1.1 billion compared to 2020 revenues.

"Across the board – from operational efficiency to customer care to financial performance – the company continues to deliver exceptional results," according to Gale Klappa, Executive Chairman. "And during 2021, our plan to invest in the future of clean energy continued to gain momentum," Klappa added. "We now expect our use of coal for power generation to be immaterial by the end of 2030, with a complete exit from coal by 2035." WEC Energy Group was again recognized in 2021 as one of America's Most Responsible Companies by Newsweek.

WEC Energy also ranked number one in the nation for customer satisfaction in an independent survey of large commercial and industrial energy users. The company's largest utility, We Energies, received an Edison Electric Institute Emergency Response Award for restoring power to more than 210,000 customers after a severe storm hit Wisconsin in August.

XCEL ENERGY 2021 POSTS YEAR-END EARNINGS REPORT
Xcel Energy has reported 2021 GAAP and ongoing earnings of $1.60 billion, or $2.96 per share, compared with $1.47 billion, or $2.79 per share in the same period in 2020. Earnings reflect higher electric and natural gas revenues, which were partially offset by increases in electric fuel and purchased power, costs of natural gas sold and transported, additional depreciation and lower allowance for funds used during construction.

“We had a solid year delivering earnings of $2.96 per share and achieving our earnings guidance for the 17th consecutive year. We are well positioned for the future and are reaffirming our 2022 ongoing EPS guidance of $3.10 - $3.20,”according to Bob Frenzel, chairman, president and CEO.

“Finally, I must extend my appreciation to the entire Xcel Energy team and our industry partners for their dedication and tireless work to help our Colorado customers impacted by the devastating wildfires and historic windstorm in December. It is inspiring to see how the entire community came together to support one another, and I am thankful for our employees and all those who have played a role in helping those who have lost so much.”