Topic: How To Invest

Dividend Advisor Hotline – Friday, June 7, 2019

Article Excerpt

ALGONQUIN POWER & UTILITIES CORP., $16.28, Toronto symbol AQN, 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 4.6%. The company has now increased its dividend each year for the past nine years. Algonquin will now buy Bermuda Electric Light Co., which is the main provider of electricity to the island’s 63,000 residents and businesses. If shareholders and regulators approve, the company will pay $365 million when it completes the purchase later this year (all amounts except share price in U.S. dollars). To put that amount in context, it earned $93.8 million, or $0.19 a share, in the three…