MGE Energy Declares Regular Dividend of $0.3751

The board of directors of MGE Energy, Inc.

today declared the regular quarterly dividend of $0.3751 per share on the outstanding shares of the company's common stock, payable March 15, 2011, to shareholders of record at the close of business March 1, 2011. MGE Energy has increased its dividend annually for the past 35 years and has paid cash dividends for more than 100 years.