Algonquin Power & Utilities Corp (AQN) Increases Dividend to $0.15 Per Share
Algonquin Power & Utilities Corp (TSE:AQN) announced a quarterly dividend on Tuesday, November 14th, Zacks reports. Shareholders of record on Friday, December 29th will be given a dividend of 0.15 per share on Friday, January 12th. This represents a $0.60 dividend on an annualized basis and a yield of 4.26%. The ex-dividend date is Thursday, December 28th. This is a boost from Algonquin Power & Utilities’s previous quarterly dividend of $0.12.
Algonquin Power & Utilities (TSE AQN) traded up C$0.01 on Friday, reaching C$14.09. 484,900 shares of the company’s stock were exchanged, compared to its average volume of 1,030,359. Algonquin Power & Utilities has a 12-month low of C$11.15 and a 12-month high of C$14.40. The firm has a market cap of $5,450.00, a price-to-earnings ratio of 28.76 and a beta of 0.39.
A number of analysts have commented on AQN shares. TD Securities lifted their target price on shares of Algonquin Power & Utilities from C$15.00 to C$16.00 in a report on Tuesday, October 24th. National Bank Financial lifted their target price on shares of Algonquin Power & Utilities from C$15.50 to C$16.00 and gave the stock an “outperform” rating in a report on Thursday, November 16th. Desjardins lifted their target price on shares of Algonquin Power & Utilities from C$15.25 to C$16.00 in a report on Monday, November 13th. Scotiabank reaffirmed an “outperform” rating and set a C$15.50 target price on shares of Algonquin Power & Utilities in a report on Monday, November 13th. Finally, Royal Bank of Canada lifted their target price on shares of Algonquin Power & Utilities from C$14.00 to C$15.00 and gave the stock an “outperform” rating in a report on Monday, November 13th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of C$15.33.
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About Algonquin Power & Utilities
Algonquin Power & Utilities Corp. (APUC) is a Canada-based company engaged in owning and operating a portfolio of regulated and non-regulated generation, distribution and transmission utility assets. APUC’s operations are organized across three business units consisting of Generation, Transmission and Distribution.
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