Wisconsin Energy Plans Dividend Hike

Friday, 29 Jul 2011 | 11:43 PM ET
WEC CEO Talks Earnings
WEC reported a terrific quarter, delivering a 4-cent earnings beat off a 37-cent basis, with better than expected revenues, with Gale Klappa, CEO of Wisconsin Energy, and Mad Money host Jim Cramer.

Wisconsin Energy already has a consistent record of paying a dividend, but CEO Gale Klappa on Friday said he wants his company's dividend payment to be best of breed.

"We think we can get to the efficient frontier over the next few years," Klappa told Cramer on "Mad Money." "In fact, our goal, which the board has endorsed, is to actually move our payout ratio to 60 percent of earnings over the next three years and we think that will support best in class dividend growth in our industry over the next several years."

The Milwaukee-based company has grown its dividend 160 percent through eight consecutive years of dividend boosts. Its dividend is just one of several reasons Cramer thinks this stock is a buy.

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