Otter Tail Corporation (OTTR) To Go Ex-Dividend on February 13th

Otter Tail Corporation (NASDAQ:OTTR) declared a quarterly dividend on Thursday, January 8th. Stockholders of record on Friday, February 13th will be paid a dividend of 0.5775 per share by the utilities provider on Tuesday, March 10th. This represents a c) annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, February 13th. This is a 10.0% increase from Otter Tail’s previous quarterly dividend of $0.53.

Otter Tail has increased its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 12 consecutive years. Otter Tail has a dividend payout ratio of 38.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Otter Tail to earn $3.56 per share next year, which means the company should continue to be able to cover its $2.10 annual dividend with an expected future payout ratio of 59.0%.

Otter Tail Stock Performance

NASDAQ OTTR opened at $85.61 on Friday. The stock has a fifty day simple moving average of $82.70 and a 200-day simple moving average of $81.05. The company has a current ratio of 3.57, a quick ratio of 2.82 and a debt-to-equity ratio of 0.57. The stock has a market cap of $3.59 billion, a PE ratio of 12.91 and a beta of 0.56. Otter Tail has a twelve month low of $71.66 and a twelve month high of $86.48.

Otter Tail (NASDAQ:OTTR) last posted its earnings results on Tuesday, November 4th. The utilities provider reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.80 by $0.06. The company had revenue of $325.56 million for the quarter, compared to analysts’ expectations of $337.40 million. Otter Tail had a net margin of 21.48% and a return on equity of 15.96%. Otter Tail’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.03 earnings per share. Equities analysts anticipate that Otter Tail will post 5.88 earnings per share for the current year.

Otter Tail Company Profile

Otter Tail Corporation, through its primary subsidiary Otter Tail Power Company, is a regulated electric utility engaged in the generation, transmission and distribution of electricity. The company operates a diversified portfolio of owned and contracted power generation facilities, including coal, natural gas, wind and hydroelectric units, supplemented by long-term power purchase agreements. In addition to utility operations, Otter Tail provides related engineering, construction and maintenance services to support grid reliability and efficiency.

The company’s service territory covers a predominantly rural footprint in the Upper Midwest, including communities in west-central Minnesota, eastern North Dakota, northwest Wisconsin and small portions of South Dakota.