Topic: How To Invest

Dividend Advisor Hotline – Friday, August 19, 2022

Article Excerpt

ALGONQUIN POWER & UTILITIES CORP., $18.55, Toronto symbol AQN, is a top pick for 2022. The company has two main businesses: the Regulated Services Group provides regulated electricity, gas, water distribution and wastewater collection services in Canada, the U.S., Chile and Bermuda; and the Renewable Power Group produces electricity from about 40 clean-energy plants in North America. Algonquin last raised your quarterly dividend with the July 2022 payment. Investors now receive $0.1808 U.S. a share, up 6.0% from $0.1706 U.S. The new annual rate of $0.7232 U.S. yields a high 5.1%. The company tends to fuel its growth with acquisitions. It cuts the risk of that strategy by focusing on rate-regulated utilities. Its latest purchase is Kentucky Power Co., which generates and distributes electricity to 228,000 customers in Kentucky. Algonquin will pay $2.85 billion when it completes the purchase by the end of 2022 (all amounts except share price in U.S. dollars). Meanwhile, due to smaller acquisitions and the start-up of new projects, Algonquin’s revenue…

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