MGE Energy Reports Second-Quarter 2025 Earnings
MGE Energy's GAAP earnings for the second quarter of 2025 were $26.5 million, or $0.73 per share, compared to $23.8 million, or $0.66 per share, for the same period in the prior year. Rate base investment growth and weather impacts drove our second-quarter results.
In the second quarter of 2025, electric net income increased $3.9 million compared to the second quarter of 2024. MGE continues to invest in new, cost-effective renewable generation, supporting the company’s ongoing asset growth. An increase in electric investments included in rate base contributed to higher electric earnings for 2025. In March 2025, the Darien Solar Project in Rock and Walworth counties became operational, followed by the Paris Battery Energy Storage System (BESS), which went into service in June 2025. These additions further enhance electric system reliability and contributed to the increase in electric earnings. MGE owns 25 MW of solar capacity from the Darien Solar Project and 11 MW of battery capacity associated with the Paris BESS project.
For the second quarter of 2025, electric residential sales increased approximately 5 percent, largely driven by warmer-than-normal weather. Gas net income exhibited steady performance, with minimal variation compared to the second quarter of 2024.
MGE Energy Increases Dividend for 50th Consecutive Year
The Board of Directors of MGE Energy has increased the regular quarterly dividend rate 5.6 percent to $0.4750 per share on the outstanding shares of the company’s common stock. The dividend is payable September 15, 2025, to shareholders of record September 1, 2025. This raises the annualized dividend rate by 10 cents from $1.80 per share to $1.90 per share.
"Today’s action by our board marks a milestone that only a select number of companies have achieved of increasing the dividend for 50 consecutive years, reinforcing our commitment to consistent and sustainable dividend growth and signaling the continued strength of MGE Energy’s long-term business strategy for building your community energy company for the future," according to Chairman, President and CEO Jeff Keebler. "MGE Energy continues to focus on our mission to provide safe, reliable, affordable and sustainable energy and on our disciplined financial management to provide ongoing value to our customers and shareholders."
MGE Energy has paid cash dividends for more than 110 years.
