NiSource increases common stock dividend and declares preferred stock dividend

The board of directors of NiSource Inc. (NYSE: NI) today declared a quarterly common stock dividend payment of 25 cents per share, payable February 17, 2023 to stockholders of record at the close of business on February 7, 2023. This represents an annualized common dividend payment of $1 per share, an increase of more than 6% over the 2022 payment of 94 cents.

"This significant common dividend increase is consistent with the NiSource premium utility growth plan we unveiled at our Investor Day," said President and CEO Lloyd Yates. "We continue to target a 60 - 70% payout ratio as a key component of our projected 9 - 11% total shareholder return proposition."

The board also declared today a dividend of $406.25 per share on the corporation's 6.50% Series B Fixed-Rate Reset Cumulative Redeemable Perpetual Preferred Stock, equal to $0.40625 per depositary share, each representing a 1/1000th interest in a share of the Series B Preferred Stock, payable March 15, 2023 to stockholders of record at the close of business on February 22, 2023.