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CMS Energy's Board of Directors Increases Quarterly Dividend on Common Stock by 40 Percent, to 12.5 Cents Per Share, and Declares Dividend on Preferred Stock

Posted on: Friday, 23 January 2009, 11:00 CST

JACKSON, Mich., Jan. 23 /PRNewswire-FirstCall/ -- The Board of Directors of CMS Energy increased today the quarterly dividend on the company's common stock by 40 percent, to 12.5 cents per share, up from 9 cents per share.

The first quarter dividend for the common stock (CUSIP: 125896100) is payable Feb. 27, 2009 to shareholders of record on Feb. 6, 2009.

"The Board's decision to increase the common stock dividend reflects the company's improved financial strength, even in this challenging economy, and the fundamental soundness of our business strategy," said David Joos, CMS Energy's president and chief executive officer.

"We plan to invest more than $6 billion in our utility operations over the next five years. Our plan calls for making substantial investments in key areas, primarily energy efficiency, renewable energy, environmental and customer service enhancements, and new power generation.

"We expect to continue to increase our payout ratio over time as we implement our growth plan and grow our earnings, however, that will be at a slower pace in light of our aggressive capital investment plan," Joos added

The Board of Directors also declared a quarterly dividend of 56.25 cents for the company's 4.50 percent cumulative convertible preferred stock, Series B (CUSIP: 125896878). It is payable March 2, 2009 to shareholders of record on Feb. 15, 2009.

CMS Energy (NYSE: CMS) is a Michigan-based company that has an electric and natural gas utility, Consumers Energy, as its primary business and also owns and operates independent power generation businesses.

For more information on CMS Energy, please visit our web site at: http://www.cmsenergy.com

SOURCE CMS Energy

Source: PR Newswire

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