The board of directors of MGE Energy, Inc. increased the regular quarterly dividend rate approximately 5% to $0.3875 per share on the outstanding shares of the company's common stock. The dividend is payable on Sept. 15, 2021, to shareholders of record Sept. 1, 2021. This raises the annualized dividend rate by 7 cents from $1.48 per share to $1.55 per share.