Dividend increase: Algonquin

Article Excerpt

ALGONQUIN POWER & UTILITIES CORP. $16 (Toronto symbol AQN; High-Growth Dividend Payer Portfolio, Utilities sector; Shares outstanding: 490.5 million; Market cap: $7.8 billion; Dividend yield: 4.8%; Dividend Sustainability Rating: Above Average; www.algonquinpower.com) operates through two main businesses: The Liberty Power Group produces and sells electricity from 39 clean energy facilities across North America; and the Liberty Utilities 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 4.8%. The company has now increased its dividend each year for the past nine years. Algonquin Power & Utilities is a buy. buy…