Xcel Energy Inc.'s board of directors increased the company's quarterly common stock dividend by 5.6% to 38 cents per share, or $1.52 per share on an annualized basis.

The quarterly dividend is payable April 20 to shareholders of record March 15, according to a Feb. 21 news release.

Xcel Energy is a U.S. electricity and natural gas company, with operations in eight Western and Midwestern states.