MERRILLVILLE, Ind., Jan. 26, 2022 /PRNewswire/ -- The board of directors of NiSource Inc. (NYSE:NI) today declared a quarterly common stock dividend payment of 23.5 cents per share, payable February 18, 2022 to stockholders of record at the close of business on February 8, 2022. This represents an annualized common dividend payment of 94 cents per share, an increase of nearly 7% over the 2021 rate of 88 cents.

"This substantial common dividend increase is consistent with our growing earnings and our commitment to sustainably increase shareholder value," said NiSource President and CEO Joe Hamrock. "Growing our dividend is a key part of our overall value proposition. We continue to target a 60% - 70% payout ratio while investing in infrastructure that drives our 7% - 9% diluted net operating earnings per share (non GAAP) compound annual growth rate through 2024."

The board also declared today a dividend of $406.25 per share on the corporation's 6.50% Series B Fixed-Rate Reset Cumulative Redeemable Perpetual Preferred Stock, equal to $0.40625 per depositary share, each representing a 1/1000th interest in a share of the Series B Preferred Stock, payable March 15, 2022 to stockholders of record at the close of business on February 22, 2022.

About NiSource

NiSource Inc. (NYSE:NI) is one of the largest fully-regulated utility companies in the United States, serving approximately 3.2 million natural gas customers and 500,000 electric customers across six states through its local Columbia Gas and NIPSCO brands. Based in Merrillville, Indiana, NiSource's approximately 7,500 employees are focused on safely delivering reliable and affordable energy to our customers and communities we serve. NiSource is a member of the Dow Jones Sustainability - North America Index. Additional information about NiSource, its investments in modern infrastructure and systems, its commitments and its local brands can be found at www.nisource.com. Follow us at www.facebook.com/nisource, www.linkedin.com/company/nisource or www.twitter.com/nisourceinc. NI-F

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SOURCE NiSource Inc.