Market Overview

MGE Energy Increases Dividend for 43rd Consecutive Year

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The board of directors of MGE Energy, Inc. (NASDAQ:MGEE) today
increased the regular quarterly dividend rate by nearly 5% to $0.3375
per share on the outstanding shares of the company's common stock. The
dividend is payable Sept. 15, 2018, to shareholders of record Sept. 1,
2018. This raises the annual dividend rate by 6 cents from $1.29 per
share to $1.35 per share.

"The dividend is an important part of our total return to our
shareholders. The board's decision to increase our quarterly dividend
reflects our commitment to delivering shareholder value and our
confidence in our business strategy," said President and CEO Jeffrey
Keebler.

MGE Energy has increased its dividend annually for the past 43 years and
has paid cash dividends for more than 100 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 151,000 customers in Dane County, Wis., and purchases and
distributes natural gas to 158,000 customers in seven south-central and
western Wisconsin counties.

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