KLAPPA, FLETCHER CITE MILESTONES AT ANNUAL MEETING

At WEC Energy Group’s virtual annual meeting of stockholders Executive Chairman Gale Klappa and President and CEO Kevin Fletcher highlighted the work of more than 7,000 employees across the region, who are providing essential energy service during the COVID-19 health crisis. They also emphasized that 2019 was “another year of solid results,” pointing to achievements in financial performance, network reliability and infrastructure upgrades.

Highlights:

  • WEC Energy Group subsidiaries We Energies and Wisconsin Public Service (WPS) were honored for superior reliability of their electric delivery networks. 2019 marked the ninth consecutive year that We Energies had been named best in the Midwest and the first time WPS had been recognized. 
  • WEC Energy Group invested nearly $2.3 billion in its core business to maintain reliability and improve customer service.
  • In 2019, WEC Energy Group exceeded its 2030 goal of reducing carbon emissions by 40% below 2005 levels and is currently reassessing long-term goals based on this recent success. 
  • The company reported record net income from operations of $1.1 billion and earnings per share of $3.58.
  • Total shareholder return in 2019 was 37% — surpassing the performance of all the major utility indexes. 
  • Dividends increased in January 2020 by 7.2% to an annual rate of $2.53 per share. This marks the 17th consecutive year of higher dividends.

COVID-19 Pandemic Response

  • Moved quickly to help ensure the health and safety of employees. 
  • Suspended disconnections of customers, unless  unsafe conditions exist, and waived new late fees.
  • Sharply curtailed work inside customers’ homes beginning in mid-March. Approximately 80% of operations employees are now working remotely or in the field.
  • Contributed, through our foundations, more than $2 million to COVID-19 relief efforts.
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