Friday, May 20, 2022

Dividend Increase - Algonquin Power & Utilities Corp. (AQN)



Thursday, May 12th the Board of Directors of Algonquin Power & Utilities Corp. (AQN) announced a quarterly dividend increase of from $ 0.1706 to $ 0.1808 per share that’s payable July 15, 2022 to holders of record June 30, 2022. This represents a 5.98% increase over the last quarterly dividend.


With current price C$ 18.47 (yesterday's close), this raise brings their dividend yield to 5.01%.


Algonquin Power & Utilities Corp. is a Dividend Contenders with a 14 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 10.0, 10.0, 10.0 and 9.6 (Dividend Champions.xls)



Since I own 650 shares of AQN, this will increase my portfolio's projected annual net dividend income by $ 19.76.


I was expecting a 5% increase, so this was slightly higher than my expectations.


This is the seventh dividend increase I've received from Algonquin Power & Utilities since initiating a position in September 2016. (More here) During this period, the quarterly dividend has risen nicely from $ 0.0963 to $ 0.1808, or 87.8 percent.


This increase raises my YOC to 6.82%.



Summary of 2022 Dividend Increases / Cuts



Click here to see my portfolio holdings.


You can follow the development of my dividends here.


Full Disclosure: Long AQN


Thanks for stopping by!



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