AQN hikes your income

Article Excerpt

ALGONQUIN POWER & UTILITIES, $18.09, is a buy. The utility (Toronto symbol AQN; Shares outstanding: 675.5 million; Market cap: $12.4 billion; TSINetwork Rating: Extra Risk; Dividend yield: 4.8%; www.algonquinpower.com) owns regulated utility systems in the U.S., Canada, Bermuda and Chile. It also operates hydroelectric, wind, solar, and thermal facilities in the U.S. and Canada. Algonquin shareholders also have a 44% stake in renewable energy producer Atlantica Yield plc (symbol AY on Nasdaq). As well. Algonquin is now buying Kentucky Power for $3.5 billion. That utility serves 228,000 customers. With the July 2022 payment, the company will raise your quarterly dividend by 5.8%, to $0.181 U.S. from $0.171. The stock yields a high 4.8%. Algonquin Power & Utilities is buy. buy…