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

Algonquin Power & Utilities Corp. (NYSE:AQN) announced a quarterly dividend on Friday, November 7th. Stockholders of record on Wednesday, December 31st will be given a dividend of 0.065 per share by the utilities provider on Thursday, January 15th. This represents a c) annualized dividend and a dividend yield of 4.2%. The ex-dividend date 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 research 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 Trading Up 8.1%

Shares of AQN stock traded up $0.47 during trading on Friday, hitting $6.19. 17,267,156 shares of the stock traded hands, compared to its average volume of 8,966,599. Algonquin Power & Utilities has a 52-week low of $4.19 and a 52-week high of $6.48. The firm has a market capitalization of $4.75 billion, a P/E ratio of -3.44 and a beta of 0.75. The firm’s fifty day moving average price is $5.67 and its 200-day moving average price is $5.70. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.09 and a quick ratio of 0.86.

Algonquin Power & Utilities (NYSE:AQN) last posted its earnings results on Friday, November 7th. The utilities provider reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.03. The company 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 last year, the firm earned $0.08 earnings per share. As a group, research analysts forecast that Algonquin Power & Utilities will post 0.38 earnings per share for the current fiscal 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.