Algonquin Power & Utilities Declares Q3 Dividend Of $0.065, Representing Reduction Of 40% From Q2 Dividend
Portfolio Pulse from Benzinga Newsdesk
Algonquin Power & Utilities has declared a Q3 dividend of $0.065, which is a 40% reduction from the Q2 dividend. The company aims to create long-term value for shareholders by focusing on improving earnings and capital sustainability in a higher cost of capital environment.
August 09, 2024 | 11:48 am
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Algonquin Power & Utilities has reduced its Q3 dividend by 40% to $0.065, aiming to improve earnings and capital sustainability in a higher cost of capital environment.
The significant reduction in the dividend is likely to be viewed negatively by investors in the short term, as it directly impacts income. However, the company's focus on long-term value and sustainability may mitigate some concerns.
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