Topic: How To Invest

Dividend Advisor Hotline – Friday, May 14, 2021

Article Excerpt

ALGONQUIN POWER & UTILITIES CORP., $18.60, Toronto symbol AQN, is a buy. Algonquin has two main businesses: the Regulated Services Group provides regulated electricity, gas, water distribution and wastewater collection services to 1.9 million customers in Canada, the U.S., Chile and Bermuda; and the Renewable Power Group produces electricity from about 40 clean-energy plants in North America. The company also owns 44.2% of the U.K.-based Atlantica Yield plc (Nasdaq symbol AY). Its renewable energy assets are in Europe, both North and South America, and Africa. With the July 2021 payment, Algonquin will raise your quarterly dividend by 10.0%. Investors will receive $0.1706 U.S. a share instead of $0.1551 U.S. The new annual rate of $0.6824 U.S. yields a solid 4.4%. Algonquin continues to expand outside of North America. In October 2020, it acquired 53.5% of Empresa de Servicios Sanitarios de Los Lagos S.A. (“ESSAL”), a water utility in Southern Chile. It has now increased that stake to 64%. In all, Algonquin paid $110.3 million…

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