JACKSON, Mich. - CMS Energy (NYSE:CMS)'s Board of Directors announced a quarterly dividend of 51.50 cents per share on the company's common stock. The dividend is payable on May 31, 2024, to shareholders of record as of May 15, 2024.
The company, with its primary business as Consumers Energy, is based in Michigan and operates in the energy sector. Aside from its main utilities business, CMS Energy also owns and manages independent power generation businesses.
This latest dividend declaration follows CMS Energy's consistent practice of providing returns to its shareholders and reflects the company's financial policies aimed at delivering shareholder value. Dividends are a significant aspect of the company's appeal to investors, and this announcement is likely to be of interest to current and potential shareholders.
CMS Energy is listed on the New York Stock Exchange under the ticker symbol NYSE:CMS. The company's performance and dividend yields are often compared with other entities in the utilities sector, which is known for providing steady dividend income to investors.
Investors and shareholders can access additional information regarding the tax status of CMS Energy's dividend distributions in the Tax Information section of the company's website. The company encourages interested parties to visit its website for more details and to sign up for email alerts through the Investor Relations section for the latest updates on financial matters.
The information provided in this article is based on a press release statement from CMS Energy.
InvestingPro Insights
CMS Energy's recent dividend announcement underlines its commitment to shareholder returns, a practice it has maintained for several years. With a PRONEWS24 promo code, investors can access InvestingPro for more in-depth analysis, including additional InvestingPro Tips.
Currently, CMS Energy has been highlighted for its significant debt burden, which could impact future financial flexibility. Still, the company has also demonstrated a strong track record of raising dividends, with an increase for 17 consecutive years, reflecting a consistent return to shareholders despite broader market conditions.
InvestingPro Data provides real-time metrics that offer a comprehensive view of the company's financial health. As of the last twelve months ending Q4 2023, CMS Energy holds a market capitalization of $17.96 billion USD.
The company's P/E ratio stands at 19.9, with an adjusted P/E ratio of 23.84, indicating a valuation that may be high relative to near-term earnings growth. The dividend yield as of the latest data point is attractive at 3.46%, which is competitive within the utilities sector and could appeal to income-focused investors.
For those interested in further insights, there are additional InvestingPro Tips available, offering a deeper dive into CMS Energy's performance and prospects. Investors can utilize these tips to better understand the company's position within the market and to make more informed investment decisions. To access these tips and benefit from a 10% discount on a yearly or biyearly Pro and Pro+ subscription, use the promo code PRONEWS24 at checkout.
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