MGE Energy Declares Regular Dividend

Madison, Wis., May 16, 2023—The board of directors of MGE Energy, Inc. (Nasdaq: MGEE), today declared the regular quarterly dividend of $0.4075 per share on the outstanding shares of the company's common stock, payable June 15, 2023, to shareholders of record at the close of business June 1, 2023.

MGE Energy has increased its dividend annually for the past 47 years and has paid cash dividends for more than 110 years.

About MGE Energy

MGE Energy is a public utility holding company. Its principal subsidiary, Madison Gas and Electric (MGE), generates and distributes electricity to 161,000 customers in Dane County, Wis., and purchases and distributes natural gas to 173,000 customers in seven south-central and western Wisconsin counties.