Algonquin Power hikes annual dividend, to pay USD 0.08 p/s on Oct 15
Aug 10, 2012 - Canadian Algonquin Power & Utilities Corp (TSE:AQN) on Thursday unveiled a CAD 0.03 (USD 0.03/EUR 0.025) boost to its annual dividend to CAD 0.31, and said it would distribute a third-quarter dividend of CAD 0.0775 a share on October 15.
Shareholders of record as of September 28 are entitled to the payout. The dividend is payable in cash, but shareholders who have joined the company's dividend reinvestment plan can instead get additional shares at a discount.
In a separate statement yesterday Algonquin said its net profit for the second quarter of 2012 had contracted to CAD 6.9 million from CAD 8.2 million.
Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) fell to CAD 24.9 million from CAD 28.2 million, due to lower hydrology at the company's renewable energy division, more specifically its hydropower plants, and a drop in energy sales at Algonquin's Windsor Locks facility.
April-June revenue declined to CAD 65.4 million from CAD 66.8 million.