Algonquin Power & Utilities Corp. Plans Quarterly Dividend of $0.07 (NYSE:AQN)

Algonquin Power & Utilities Corp. (NYSE:AQN) announced a quarterly dividend on Friday, November 7th. Shareholders of record on Wednesday, December 31st will be paid a dividend of 0.065 per share by the utilities provider on Thursday, January 15th. This represents a c) dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Wednesday, December 31st.

Algonquin Power & Utilities has decreased its dividend payment by an average of 0.1%annually over the last three years. Algonquin Power & Utilities has a dividend payout ratio of 72.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Algonquin Power & Utilities to earn $0.31 per share next year, which means the company should continue to be able to cover its $0.26 annual dividend with an expected future payout ratio of 83.9%.

Algonquin Power & Utilities Stock Up 8.1%

Shares of NYSE:AQN traded up $0.47 on Friday, hitting $6.19. 17,267,156 shares of the company’s stock were exchanged, compared to its average volume of 8,966,599. Algonquin Power & Utilities has a 1-year low of $4.19 and a 1-year high of $6.48. The company has a market capitalization of $4.75 billion, a PE ratio of -3.44 and a beta of 0.75. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.86 and a current ratio of 1.09. The firm’s 50-day moving average is $5.67 and its 200 day moving average is $5.70.

Algonquin Power & Utilities (NYSE:AQN) last posted its earnings results on Friday, November 7th. The utilities provider reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.03. The firm had revenue of $600.80 million during the quarter, compared to analysts’ expectations of $596.67 million. Algonquin Power & Utilities had a positive return on equity of 4.76% and a negative net margin of 57.66%.During the same quarter in the previous year, the business earned $0.08 earnings per share. Sell-side analysts predict that Algonquin Power & Utilities will post 0.38 EPS for the current year.

Algonquin Power & Utilities Company Profile

Algonquin Power & Utilities Corp. is an investment holding company, which engages in energy generation and water distribution facilities. It operates through the Regulated Services Group and Renewable Energy Group segments. The Regulated Services Group segment owns and operates a portfolio of electric, natural gas, water distribution, and wastewater collection utility systems and transmission.