Recent Updates — MGEE
On October 1, 2026, MGE Energy Inc. and its subsidiary Madison Gas and Electric Company amended and restated their existing credit agreements with various financial institutions. The amendments extend the maturity dates of all facilities to October 1, 2031, with options for two one-year extensions through October 1, 2033. A key change involves increasing MGE's revolving credit commitment under its JPMorgan Chase agreement from $90 million to $210 million. The parent company, MGE Energy, retains a $50 million revolving facility, while MGE maintains a separate $40 million facility with U.S. Bank. These agreements maintain customary covenants, including a maximum consolidated indebtedness to total capitalization ratio of 65%. MGE Energy Inc. is the holding company for Madison Gas and Electric Company, which provides electric utility services in Wisconsin.
MGE Energy, Inc. announced a 7.0% increase in its regular quarterly dividend to $0.5083 per share on August 21, 2026. The payment is scheduled for September 15, 2026, for shareholders of record as of September 1, 2026. This marks the company's 51st consecutive year of dividend increases and raises its annualized dividend rate to $2.0332 per share. MGE Energy is a public utility holding company whose principal subsidiary generates and distributes electricity and natural gas in Wisconsin.
MGE Energy, Inc. reported second-quarter 2026 GAAP earnings of $33.4 million, or $0.89 per share, compared to $26.5 million, or $0.72 per share, in the prior year period. Operating revenues increased to $161.2 million from $159.5 million, driven by strategic capital investments and renewable energy projects that expanded the electric segment's rate base. The company also recognized approximately $3.9 million in investment gains from venture capital funds focused on energy technologies. For the first half of 2026, net income totaled $81.8 million, or $2.21 per share, against $68.1 million, or $1.86 per share, a year earlier. MGE Energy operates as a public utility holding company providing electricity and natural gas distribution services in Wisconsin.