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Allete (ALE) has 1 split in our ALE split history database. The split for ALE took place on September 21, 2004. This was a 1 for 3 reverse split, meaning for each 3 shares of ALE owned pre-split, the shareholder now owned 1 share. For example, a 1000 share position pre-split, became a 333.333333333333 share position following the split.
When a company such as Allete conducts a reverse share split, it is usually because shares have fallen to a lower per-share pricepoint than the company would like. This can be important because, for example, certain types of mutual funds might have a limit governing which stocks they may buy, based upon per-share price. The $5 and $10 pricepoints tend to be important in this regard. Stock exchanges also tend to look at per-share price, setting a lower limit for listing eligibility. So when a company does a reverse split, it is looking mathematically at the market capitalization before and after the reverse split takes place, and concluding that if the market capitilization remains stable, the reduced share count should result in a higher price per share.
Looking at the ALE split history from start to finish, an original position size of 1000 shares would have turned into 333.333333333333 today. Below, we examine the compound annual growth rate — CAGR for short — of an investment into Allete shares, starting with a $10,000 purchase of ALE, presented on a split-history-adjusted basis factoring in the complete ALE split history.
Growth of $10,000.00
With Dividends Reinvested
|Average Annual Total Return:||6.05%|
Growth of $10,000.00
Without Dividends Reinvested
|Average Annual Total Return:||5.52%|
|Allete is an energy company. Regulated Operations includes Co.'s regulated utilities, its Minnesota Power division and Superior Water, Light and Power Company (SWL&P), as well as its investment in American Transmission Company LLC, a regulated utility that owns and maintains electric transmission assets in parts of Wisconsin, Michigan, Minnesota and Illinois. Minnesota Power provides regulated utility electric service in northeastern Minnesota. SWL&P provides regulated utility electric, natural gas and water service in northwestern Wisconsin. Co.'s regulated utility operations include retail and wholesale activities under the jurisdiction of state and federal regulatory authorities. According to our ALE split history records, Allete has had 1 split.|
|ALE Split History Table|
|09/21/2004||1 for 3|
|Utilities Stock Splits|
|ALE is categorized under the Utilities sector; below are some other companies in the same sector that also have a history of stock splits:
ARTNA Split History
Also explore: ALE shares outstanding history
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