Topic: How To Invest

Dividend Advisor Hotline – Friday, September 18, 2020

Article Excerpt

ALGONQUIN POWER & UTILITIES CORP., $18.57, Toronto symbol AQN, is a top pick for 2020. The company operates through two main businesses: the Renewable Energy Group relies on 40 clean energy facilities across North America to produce and sell electricity; and the Regulated Services Group provides regulated electricity, natural gas, water distribution and wastewater collection services. Algonquin last raised your quarterly dividend by 10.0% with the July 2020 payment, to $0.1551 U.S. a share from $0.1410 U.S. The company’s shareholders receive an annual rate of $0.6204 U.S., which yields a high 4.4%. Algonquin plans to increase the dividend by another 10% in 2021. The company will now buy 53.5% of Empresa de Servicios Sanitarios de Los Lagos S.A. (“ESSAL”), a water utility in Southern Chile. ESSAL has 48 potable water production systems and 29 sewage plants. Algonquin will pay $92.3 million U.S. for this investment when it completes the transaction later this year. To put that cost in context, the company earned $47.4 million…

You are trying to access subscriber-only content.

To read this article, you may subscribe or sign in.
If you are already a subscriber, log in here.

If you wish to become a subscriber, click here. Or you may enjoy access to all our publications when you become a Member of Pat McKeough's Inner Circle Pro.