Algonquin ups its dividend

Article Excerpt

ALGONQUIN POWER & UTILITIES $18.57, is a #1 Buy for 2021. The utility (Toronto symbol AQN; Shares o/s: 611.8 million; Market cap: $11.3 billion; TSINetwork Rating: Extra Risk; Divd. yield: 4.2%; www.algonquinpower.com) has two businesses: Liberty Power produces electricity from 39 clean-energy plants in North America; and Liberty Utilities provides regulated electricity, gas, water distribution and wastewater collection. Algonquin also owns 44.2% of Atlantica Yield plc (symbol AY on Nasdaq). It operates renewable energy assets. With the July 2021 payment, Algonquin will raise your quarterly dividend by 10.0%. Investors will receive $0.1706 U.S. a share instead of $0.1551 U.S. The new annual rate of $0.6824 U.S. yields a high 4.2%. Meanwhile, between 2021 and 2025, the company plans to spend $9.4 billion U.S. on upgrades to its existing businesses. The cash flow from those investments should let Algonquin continue to raise your dividend. Algonquin Power & Utilities is a #1 Buy for 2021. 2021…