MGE Energy (MGEE) Dividend
38 yrs growthMGE Energy, Inc. · Utilities · Utilities - Regulated Electric · quarterly payer
As of Nov 5, 2026, MGE Energy (MGEE) pays a quarterly dividend of $0.5080 per share, or $2.03 a year, a 2.62% yield at its $78.53 share price. The next ex-dividend date is Dec 1, 2026, paid Dec 15, 2026. It has raised its dividend 38 years in a row and has a dividend safety grade of A.
Forward Yield
2.62%
Annual Dividend
$2.03
Payout Ratio
45%
5-Yr Growth
5.1%
Ex-Date
Dec 1, 2026
Frequency
Quarterly
Key facts about MGEE's dividend
Data as of · Source: SmarterDividends data
- As of Nov 5, 2026, MGE Energy, Inc. (MGEE) has a forward dividend yield of 2.62%, based on an annual dividend of $2.03 per share and a share price of $78.53.
- As of Nov 5, 2026, MGEE's dividend safety grade from SmarterDividends is A (93 out of 100), which rates the dividend as very safe.
- By SmarterDividends' count, MGE Energy, Inc. (MGEE) has raised its dividend for 38 consecutive years as of Nov 5, 2026, which makes it a Dividend Aristocrat by the 25-year definition.
- MGEE has never cut its regular dividend in the payment history SmarterDividends has on record.
- MGEE's next ex-dividend date is Dec 1, 2026, with payment on Dec 15, 2026. Shares must be owned before that date to receive the dividend.
- As of Nov 5, 2026, MGEE pays out 45% of its trailing 12-month earnings as dividends (its payout ratio).
- MGEE's dividend has grown at an average rate of 5.1% a year over the past five years.
- As of Nov 5, 2026, MGEE's 2.62% yield is 23% above its five-year average yield of 2.14%.
- As of Nov 5, 2026, SmarterDividends' blended fair-value estimate for MGEE is $66.64 per share, 15% below the $78.53 share price, so MGEE screens as overvalued.
- MGE Energy, Inc. (MGEE) pays its dividend quarterly, 4 times a year.
- MGE Energy, Inc. (MGEE) has raised its regular dividend 41 times and cut it 0 times across the 160 payments on record since 1987. Its most recent change was a 6.9% increase to $0.508 per share, going ex-dividend on Sep 1, 2026.
- MGE Energy (MGEE) has declared its first higher dividend of the year in August in 5 of the last 5 years; its most recent raise, 6.9%, was declared on Aug 21, 2026.
Cite this page
SmarterDividends, "MGEE Dividend: Yield, Safety Grade & Next Ex-Date," updated Nov 5, 2026, https://smarterdividends.com/stocks/MGEE
Is MGEE a good dividend stock?
YesMGE Energy, Inc. (MGEE) pays a quarterly dividend yielding 2.62% ($2.03/yr), with 38 years of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding.
Advantages
- Dividend Aristocrat — 38 consecutive years of growth
- Never cut its dividend on record
- Comfortable payout ratio (45%)
- Strong 5.1% 5-yr dividend growth
- Top-tier dividend safety score
Risks
- Single-stock concentration risk — diversify
Key Data
- Dividend Yield
- 2.62%
- Payout Ratio
- 45%
- Annual Dividend
- $2.03
- 5-Yr Avg Growth
- 5.1%
- Ex-Dividend Date
- Dec 1, 2026
- Years of Growth
- 38
- Frequency
- quarterly
- Beta
- —
- Market Cap
- $3.0B
- P/E Ratio
- 18.1
- 5-Yr Total Return
- 2%
- 52-Week Range
- $68.01 – $85.30
- Dividend Safety
- A · 93/100
- Ever Cut?
- No
MGEE dividend raises and cuts
MGE Energy, Inc. (MGEE) has raised its regular dividend 41 times and cut it 0 times across the 160 payments on record since 1987. Its most recent change was a 6.9% increase to $0.508 per share, going ex-dividend on Sep 1, 2026.
| Ex-date | Change | Old → new | Move |
|---|---|---|---|
| Sep 1, 2026 | Raise | $0.475 → $0.508 | +6.9% |
| Aug 29, 2025 | Raise | $0.450 → $0.475 | +5.6% |
| Aug 30, 2024 | Raise | $0.428 → $0.450 | +5.1% |
| Aug 31, 2023 | Raise | $0.408 → $0.428 | +4.9% |
| Aug 31, 2022 | Raise | $0.388 → $0.408 | +5.2% |
| Aug 31, 2021 | Raise | $0.370 → $0.388 | +4.9% |
| Aug 31, 2020 | Raise | $0.353 → $0.370 | +4.8% |
| Aug 29, 2019 | Raise | $0.338 → $0.353 | +4.4% |
| Aug 30, 2018 | Raise | $0.323 → $0.338 | +4.6% |
| Aug 30, 2017 | Raise | $0.308 → $0.323 | +4.9% |
| Aug 30, 2016 | Raise | $0.295 → $0.308 | +4.4% |
| Aug 28, 2015 | Raise | $0.283 → $0.295 | +4.2% |
Show all 41 changes since 1987
| Ex-date | Change | Old → new | Move |
|---|---|---|---|
| Aug 27, 2014 | Raise | $0.272 → $0.283 | +4.0% |
| Aug 28, 2013 | Raise | $0.263 → $0.272 | +3.3% |
| Aug 29, 2012 | Raise | $0.255 → $0.263 | +3.1% |
| Aug 30, 2011 | Raise | $0.250 → $0.255 | +2.1% |
| Aug 30, 2010 | Raise | $0.245 → $0.250 | +1.9% |
| Aug 28, 2009 | Raise | $0.241 → $0.245 | +1.7% |
| Aug 27, 2008 | Raise | $0.237 → $0.241 | +2.0% |
| Aug 29, 2007 | Raise | $0.232 → $0.237 | +2.0% |
| Aug 30, 2006 | Raise | $0.230 → $0.232 | +0.9% |
| Aug 30, 2005 | Raise | $0.228 → $0.230 | +0.9% |
| Aug 30, 2004 | Raise | $0.225 → $0.228 | +1.2% |
| Aug 27, 2003 | Raise | $0.224 → $0.225 | +0.6% |
| Aug 28, 2002 | Raise | $0.222 → $0.224 | +0.9% |
| Aug 29, 2001 | Raise | $0.221 → $0.222 | +0.6% |
| Aug 30, 2000 | Raise | $0.219 → $0.221 | +0.9% |
| May 30, 2000 | Raise | $0.217 → $0.219 | +0.9% |
| Aug 28, 1998 | Raise | $0.215 → $0.217 | +0.9% |
| Aug 27, 1997 | Raise | $0.213 → $0.215 | +0.6% |
| Aug 28, 1996 | Raise | $0.212 → $0.213 | +0.6% |
| May 29, 1996 | Raise | $0.210 → $0.212 | +1.0% |
| Aug 30, 1995 | Raise | $0.209 → $0.211 | +1.1% |
| Aug 26, 1994 | Raise | $0.207 → $0.209 | +1.1% |
| Aug 26, 1993 | Raise | $0.202 → $0.207 | +2.2% |
| Aug 26, 1992 | Raise | $0.196 → $0.202 | +3.4% |
| Aug 26, 1991 | Raise | $0.193 → $0.196 | +1.5% |
| Aug 27, 1990 | Raise | $0.190 → $0.193 | +1.6% |
| Aug 28, 1989 | Raise | $0.184 → $0.190 | +3.2% |
| Aug 26, 1988 | Raise | $0.179 → $0.184 | +2.5% |
| Aug 26, 1987 | Raise | $0.175 → $0.179 | +2.5% |
Frequently Asked Questions
Is MGEE a good dividend stock?
Yes. MGE Energy, Inc. (MGEE) pays a quarterly dividend yielding 2.62% ($2.03/yr), with 38 years of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding.
Is MGEE undervalued?
Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, MGEE's fair value is about $66.64 versus a $78.53 share price — so it looks overvalued (-15% vs. fair value).
Is MGEE's dividend safe?
MGEE has a dividend-safety grade of A (93/100), based on its payout coverage, free-cash-flow, 38-year growth streak, a clean no-cut history, debt and yield-versus-history.
What is MGEE's fair value?
Our blended fair-value estimate for MGEE is about $66.64 per share, about 15% below the current $78.53 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.
Is MGEE a buy, hold, or sell?
We don't issue formal ratings, but on the data MGEE screens as "yes" and overvalued. MGE Energy, Inc. (MGEE) pays a quarterly dividend yielding 2.62% ($2.03/yr), with 38 years of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding. This is research for your own analysis, not investment advice.
Will MGEE cut its dividend?
MGEE earns a dividend-safety grade of A (93/100), with no dividend cut on record. A higher score means lower cut risk based on payout coverage, cash flow and history — but no score guarantees a dividend.
Does MGEE pay a dividend?
Yes. MGE Energy, Inc. pays a quarterly dividend of about $2.03 per share annually, a forward yield of roughly 2.62%.
How much dividend does 100 shares of MGEE pay?
At $2.03 per share a year, 100 shares of MGEE pay $203.00 a year in dividends before tax, about $50.75 each quarter. Buying them costs about $7,853 at the Nov 5, 2026 price.
What is MGEE's dividend yield?
As of Nov 5, 2026, MGEE's forward dividend yield is 2.62%, based on a $2.03 annual dividend and a $78.53 share price.
What is MGEE's dividend per share?
As of Nov 5, 2026, MGEE pays $2.03 per share per year, distributed on a quarterly basis.
What is MGEE's dividend payout ratio?
As of Nov 5, 2026, MGEE's payout ratio is 45% of trailing 12-month earnings — a comfortable level that leaves room to keep raising the dividend.
How many years has MGEE grown its dividend?
As of Nov 5, 2026, MGEE has increased its dividend for 38 consecutive years.
When is the next MGEE ex-dividend date?
As of Nov 5, 2026, the next ex-dividend date on record for MGEE is Dec 1, 2026.
MGEE Price — Last 12 Months
Daily close
Price Return
1 Year
-11%
3 Years
-0%
5 Years
+2%
52-Week Range
$68.01 – $85.30
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is MGEE worth?
Overvaluedmedium confidenceOur blended fair-value estimate for MGE Energy, Inc. is $66.64 per share, versus a market price of $78.53. That implies 15% of downside.
Fair Value
$66.64
Current Price
$78.53
Downside
-15%
Margin of Safety
-18%
How we get there
Dividend discount
Discounts the future dividend stream back to today.
Earnings multiple (Graham)
Graham's earnings-multiple formula, anchored to bond yields.
At today's price, the market is pricing in about 38.7% annual free-cash-flow growth. We model 7.3% — so the price already assumes faster growth than we think is likely.
Assumptions: 8.0% discount rate (CAPM), 7.3% growth for five years fading to 2.5% over the next five, $4.07 EPS, $2.03 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
MGEE Dividend Safety Score
Very Safe
SmarterDividends' proprietary score, backtested against which dividends were actually cut over 15+ years (0.78 AUC). It blends a validated cut-risk model (growth streak, cut history) with current payout, cash-flow and debt. Higher is safer · not investment advice.
Dividend Growth
Total dividends per share by year
Dividend History
Full MGEE dividend history →| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Sep 1, 2026 | Sep 15, 2026 | $0.5080 | regular |
| Jun 1, 2026 | Jun 15, 2026 | $0.4750 | regular |
| Feb 27, 2026 | Mar 15, 2026 | $0.4750 | regular |
| Dec 1, 2025 | Dec 15, 2025 | $0.4750 | regular |
| Aug 29, 2025 | Sep 15, 2025 | $0.4750 | regular |
| May 30, 2025 | Jun 15, 2025 | $0.4500 | regular |
| Feb 28, 2025 | Mar 15, 2025 | $0.4500 | regular |
| Nov 29, 2024 | Dec 15, 2024 | $0.4500 | regular |
| Aug 30, 2024 | Sep 15, 2024 | $0.4500 | regular |
| May 31, 2024 | Jun 15, 2024 | $0.4280 | regular |
| Feb 29, 2024 | Mar 15, 2024 | $0.4280 | regular |
| Nov 30, 2023 | Dec 15, 2023 | $0.4280 | regular |
| Aug 31, 2023 | Sep 15, 2023 | $0.4280 | regular |
| May 31, 2023 | Jun 15, 2023 | $0.4080 | regular |
Income Calculator
At $2.03 / yr per share
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