Otter Tail Co. Plans Quarterly Dividend of $0.47 (NASDAQ:OTTR)

Otter Tail Co. (NASDAQ:OTTR) announced a quarterly dividend on Friday, May 3rd, Zacks reports. Stockholders of record on Wednesday, May 15th will be paid a dividend of 0.468 per share by the utilities provider on Monday, June 10th. This represents a $1.87 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Tuesday, May 14th.

Otter Tail has increased its dividend by an average of 5.7% annually over the last three years and has increased its dividend every year for the last 11 years. Otter Tail has a payout ratio of 40.4% meaning its dividend is sufficiently covered by earnings.

Otter Tail Stock Up 1.3 %

Otter Tail stock traded up $1.15 during trading on Friday, hitting $92.94. 147,636 shares of the company were exchanged, compared to its average volume of 166,050. The company has a market capitalization of $3.89 billion, a P/E ratio of 12.77 and a beta of 0.56. The business’s 50 day moving average is $84.96 and its 200 day moving average is $83.91. Otter Tail has a 52 week low of $68.96 and a 52 week high of $99.49. The company has a current ratio of 2.92, a quick ratio of 1.36 and a debt-to-equity ratio of 0.63.

Otter Tail (NASDAQ:OTTR) last posted its earnings results on Tuesday, February 13th. The utilities provider reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.03. Otter Tail had a net margin of 22.55% and a return on equity of 21.58%. The firm had revenue of $314.31 million during the quarter, compared to analyst estimates of $300.60 million. During the same quarter in the prior year, the business posted $1.00 EPS. Analysts predict that Otter Tail will post 6.38 earnings per share for the current year.

About Otter Tail

Otter Tail Corporation, together with its subsidiaries, engages in electric utility, manufacturing, and plastic pipe businesses in the United States. It operates through three segments: Electric, Manufacturing, and Plastics. The Electric segment produces, transmits, distributes, and sells electric energy in Minnesota, North Dakota, and South Dakota; and operates as a participant in the Midcontinent Independent System Operator markets.