Algonquin Power & Utilities Corp. (NYSE:AQN) announced a quarterly dividend on Friday, August 11th, Wall Street Journal reports. Stockholders of record on Friday, September 29th will be given a dividend of 0.1165 per share by the utilities provider on Friday, October 13th. This represents a $0.47 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date of this dividend is Thursday, September 28th.

Algonquin Power & Utilities Corp. has a payout ratio of 95.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline.

Algonquin Power & Utilities Corp. (NYSE:AQN) traded up 0.57% during mid-day trading on Friday, hitting $10.51. 61,307 shares of the stock were exchanged. The company has a 50-day moving average price of $10.51 and a 200-day moving average price of $9.80. Algonquin Power & Utilities Corp. has a one year low of $7.75 and a one year high of $10.85. The company has a market cap of $4.04 billion, a P/E ratio of 67.37 and a beta of 0.81.

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A number of brokerages recently commented on AQN. Wells Fargo & Company began coverage on Algonquin Power & Utilities Corp. in a research note on Tuesday, June 20th. They issued a “market perform” rating for the company. Zacks Investment Research lowered Algonquin Power & Utilities Corp. from a “buy” rating to a “hold” rating in a research note on Friday, July 14th.

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