Algonquin Power & Utilities Corporate Units said on April 13, 2023 that its board of directors declared a regular quarterly dividend of $0.97 per share ($3.88 annualized). Previously, the company paid $0.97 per share.
Shares must be purchased before the ex-div date of May 31, 2023 to qualify for the dividend. Shareholders of record as of June 1, 2023 will receive the payment on June 15, 2023.
At the current share price of $30.60 / share, the stock's dividend yield is 12.66%. Looking back five years and taking a sample every week, the average dividend yield has been 9.78%, the lowest has been 7.39%, and the highest has been 16.66%. The standard deviation of yields is 2.60 (n=79).
The current dividend yield is 1.11 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is -12.58. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
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What is the Fund Sentiment?
There are 78 funds or institutions reporting positions in Algonquin Power & Utilities Corporate Units. This is a decrease of 1 owner(s) or 1.27% in the last quarter. Average portfolio weight of all funds dedicated to AQNU is 0.28%, a decrease of 22.17%. Total shares owned by institutions increased in the last three months by 0.46% to 20,847K shares.
Analyst Price Forecast Suggests 26.36% Downside
As of April 6, 2023, the average one-year price target for Algonquin Power & Utilities Corporate Units is $22.54. The forecasts range from a low of $18.56 to a high of $26.19. The average price target represents a decrease of 26.36% from its latest reported closing price of $30.60.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Algonquin Power & Utilities Corporate Units is $3,254MM, an increase of 17.68%. The projected annual non-GAAP EPS is $0.71.
What are Other Shareholders Doing?
Css holds 16K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.
Bank Of Montreal holds 2,105K shares representing 0.31% ownership of the company. In it's prior filing, the firm reported owning 1,377K shares, representing an increase of 34.57%. The firm decreased its portfolio allocation in AQNU by 22.87% over the last quarter.
ICAP - InfraCap Equity Income Fund ETF holds 2K shares representing 0.00% ownership of the company.
SVBAX - Balanced Fund holds 40K shares representing 0.01% ownership of the company. No change in the last quarter.
Agf Investments holds 31K shares representing 0.00% ownership of the company. No change in the last quarter.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
