WEC Energy Group, Inc. ( NYSE:WEC) has announced that it will be increasing its dividend from last year's comparable payment on the 1st of March to $0.8925. The payment will take the dividend yield to 3.6%, which is in line with the average for the industry.

Group declared a quarterly cash dividend of 89.25 cents per share on the company’s common stock, an increase of 6.9% over the current quarterly dividend of 83.50 cents per share. This raises the annual dividend rate to $3.