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

Key Points

• Algonquin Power & Utilities Corp. has declared a quarterly dividend of $0.07, with an annualized yield of 4.5% for investors of record on September 30th.
• The company reported a quarterly earnings per share (EPS) of $0.04, matching analysts' estimates, and is forecasted to earn $0.31 per share next year.
• Algonquin has a dividend payout ratio of 72.2%, indicating that its dividends are well-covered by earnings, with expectations of an increased payout ratio in the future.

Algonquin Power & Utilities Corp. (NYSE:AQN - Get Free Report) declared a quarterly dividend on Friday, August 8th, RTT News reports. Stockholders of record on Tuesday, September 30th will be given a dividend of 0.065 per share by the utilities provider on Wednesday, October 15th. This represents a c) annualized dividend and a dividend yield of 4.5%. The ex-dividend date is Tuesday, September 30th.

Algonquin Power & Utilities has a 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 Performance

Shares of Algonquin Power & Utilities stock traded up $0.09 on Tuesday, hitting $5.77. The stock had a trading volume of 4,024,292 shares, compared to its average volume of 10,666,762. Algonquin Power & Utilities has a twelve month low of $4.19 and a twelve month high of $6.24. The business's 50 day moving average is $5.85 and its two-hundred day moving average is $5.35. The company has a quick ratio of 0.94, a current ratio of 1.16 and a debt-to-equity ratio of 1.21. The stock has a market cap of $4.43 billion, a price-to-earnings ratio of -3.20 and a beta of 0.68.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last posted its earnings results on Friday, August 8th. The utilities provider reported $0.04 EPS for the quarter, meeting the consensus estimate of $0.04. The company had revenue of $535.59 million for the quarter, compared to the consensus estimate of $535.64 million. Algonquin Power & Utilities had a positive return on equity of 4.60% and a negative net margin of 57.66%. During the same quarter in the prior year, the business earned $0.09 earnings per share. Analysts forecast 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.