Atlantica Sustainable Infrastructure plc (NASDAQ:AY) Announces $0.22 Quarterly Dividend

Atlantica Sustainable Infrastructure plc (NASDAQ:AY) declared a quarterly dividend on Thursday, November 14th,Wall Street Journal reports. Investors of record on Friday, November 29th will be given a dividend of 0.2225 per share by the utilities provider on Thursday, December 12th. This represents a $0.89 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date is Friday, November 29th.

Atlantica Sustainable Infrastructure has increased its dividend by an average of 2.4% per year over the last three years. Atlantica Sustainable Infrastructure has a dividend payout ratio of 109.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Atlantica Sustainable Infrastructure to earn $0.50 per share next year, which means the company may not be able to cover its $0.89 annual dividend with an expected future payout ratio of 178.0%.

Atlantica Sustainable Infrastructure Price Performance

Shares of AY opened at $22.14 on Wednesday. The business’s fifty day moving average is $22.02 and its 200 day moving average is $22.09. Atlantica Sustainable Infrastructure has a 12-month low of $16.82 and a 12-month high of $23.47. The company has a quick ratio of 1.20, a current ratio of 1.25 and a debt-to-equity ratio of 3.36. The stock has a market cap of $2.57 billion, a P/E ratio of 76.35, a P/E/G ratio of 2.15 and a beta of 1.03.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on Atlantica Sustainable Infrastructure in a research note on Friday, November 22nd. They issued a “sell” rating for the company. One analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Atlantica Sustainable Infrastructure has an average rating of “Hold” and a consensus target price of $22.20.

Atlantica Sustainable Infrastructure Company Profile

Atlantica Sustainable Infrastructure plc owns, manages, and invests in renewable energy, storage, natural gas and heat, electric transmission lines, and water assets in North America, South America, Europe, the Middle East, and Africa. The company was formerly known as Atlantica Yield plc and changed its name to Atlantica Sustainable Infrastructure plc in May 2020.