Algonquin ups its payout

Article Excerpt

ALGONQUIN POWER & UTILITIES $16.05 (Toronto symbol AQN; Shares outstanding: 490.5 million; Market cap: $7.9 billion; TSINetwork Rating: Extra Risk; Dividend yield: 4.6%) operates through two main businesses: The Generation Group produces and sells electricity from 35 clean energy facilities across North America; and the Distribution Group provides regulated electricity, natural gas, water distribution and wastewater collection services With the July 2019 payment, the company will increase its quarterly dividend by 10.0%. Investors will then receive $0.141 U.S. a share, instead of $0.1282 U.S. The new annual rate of $0.564 U.S. yields a high 4.6%. The company has now increased its dividend each year for the past nine years. Algonquin Power & Utilities is a buy. buy…