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Algonquin Power & Utilities Corp. Declares Fourth Quarter 2024 Common Share Dividend of U.S.$0.0650 (C$0.0901), and Declares Fourth Quarter 2024 Preferred Share Dividends

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Algonquin Power & Utilities (AQN) has announced its Q4 2024 dividend distributions. The company will pay US$0.0650 (C$0.0901) per common share on January 15, 2025, to shareholders of record on December 31, 2024. For preferred shares, Series A holders will receive C$0.41100 and Series D holders will receive C$0.42831, both payable on December 31, 2024. The company notes that its dividend reinvestment plan (DRIP) remains suspended since March 16, 2023. All dividends qualify as eligible dividends under Canadian tax legislation.

Algonquin Power & Utilities (AQN) ha annunciato le distribuzioni di dividendi per il quarto trimestre del 2024. La società pagherà US$0.0650 (C$0.0901) per azione ordinaria il 15 gennaio 2025, agli azionisti registrati al 31 dicembre 2024. Per le azioni privilegiate, i detentori della Serie A riceveranno C$0.41100 e quelli della Serie D riceveranno C$0.42831, entrambi pagabili il 31 dicembre 2024. La società segnala che il piano di reinvestimento dei dividendi (DRIP) rimane sospeso dal 16 marzo 2023. Tutti i dividendi sono considerati dividendi idonei ai sensi della legislazione fiscale canadese.

Algonquin Power & Utilities (AQN) ha anunciado sus distribuciones de dividendos para el cuarto trimestre de 2024. La empresa pagará US$0.0650 (C$0.0901) por acción ordinaria el 15 de enero de 2025, a los accionistas registrados el 31 de diciembre de 2024. Para las acciones preferentes, los titulares de la Serie A recibirán C$0.41100 y los de la Serie D recibirán C$0.42831, ambos pagaderos el 31 de diciembre de 2024. La empresa señala que su plan de reinversión de dividendos (DRIP) se ha mantenido suspendido desde el 16 de marzo de 2023. Todos los dividendos calificarán como dividendos elegibles bajo la legislación fiscal canadiense.

Algonquin Power & Utilities (AQN)는 2024년 4분기 배당금 분배를 발표했습니다. 회사는 US$0.0650 (C$0.0901) 보통주당을 2025년 1월 15일에 2024년 12월 31일 기준 주주들에게 지급할 예정입니다. 우선주에 대해서는 A 시리즈 보유자가 C$0.41100을 받고, D 시리즈 보유자가 C$0.42831을 받을 예정이며, 두 금액 모두 2024년 12월 31일에 지급됩니다. 회사는 배당금 재투자 계획(DRIP)이 2023년 3월 16일부터 중단된 상태임을 알리고 있습니다. 모든 배당금은 캐나다 세법에 따른 적격 배당금으로 인정됩니다.

Algonquin Power & Utilities (AQN) a annoncé ses distributions de dividendes pour le quatrième trimestre de 2024. La société versera US$0.0650 (C$0.0901) par action ordinaire le 15 janvier 2025, aux actionnaires dont les noms figurent au registre au 31 décembre 2024. Pour les actions privilégiées, les détenteurs de la Série A recevront C$0.41100 et ceux de la Série D recevront C$0.42831, tous deux payables le 31 décembre 2024. La société indique que son plan de réinvestissement des dividendes (DRIP) reste suspendu depuis le 16 mars 2023. Tous les dividendes sont éligibles conformément à la législation fiscale canadienne.

Algonquin Power & Utilities (AQN) hat die Dividendenverteilungen für das vierte Quartal 2024 angekündigt. Das Unternehmen wird am 15. Januar 2025 US$0.0650 (C$0.0901) pro Stammaktie an die Aktionäre ausschütten, die am 31. Dezember 2024 im Aktienregister stehen. Für Vorzugsaktien erhalten die Inhaber der Serie A C$0.41100 und die der Serie D C$0.42831, beide zahlbar am 31. Dezember 2024. Das Unternehmen weist darauf hin, dass der Dividenden-Reinvestitionsplan (DRIP) seit dem 16. März 2023 ausgesetzt ist. Alle Dividenden qualifizieren sich als förderfähige Dividenden gemäß kanadischer Steuergesetzgebung.

Positive
  • Consistent dividend payment maintained for common and preferred shareholders
  • Dividends qualify as eligible dividends under Canadian tax legislation
Negative
  • DRIP program remains suspended, limiting reinvestment options for shareholders

Insights

The quarterly dividend announcement maintains $0.065 per common share, unchanged from previous quarters following the significant 40% dividend cut in early 2023. The stability in dividend payments signals management's commitment to the current capital allocation strategy and indicates sustainable cash flow generation. However, at current levels, the dividend yield remains relatively modest at approximately 6%.

The preferred share dividends of C$0.411 for Series A and C$0.42831 for Series D continue as scheduled, providing steady income for preferred shareholders. The suspension of the DRIP program remains in effect, reflecting the company's focus on cash preservation and balance sheet management rather than equity issuance for dividend funding.

While this regular dividend announcement demonstrates financial stability, it doesn't represent a catalyst for significant stock price movement. The company's ability to maintain these payment levels will depend on continued operational performance and successful execution of its strategic initiatives.

OAKVILLE, ON, Nov. 7, 2024 /PRNewswire/ - Algonquin Power & Utilities Corp. ("AQN") (TSX: AQN) (TSX: AQN.PR.A) (TSX: AQN.PR.D) (NYSE: AQN) announced today that its board of directors has approved and declared the following common and preferred share dividends:

  1. US$0.0650 per common share, payable on January 15, 2025, to the shareholders of record on December 31, 2024, for the period from October 1, 2024 to December 31, 2024. Registered shareholders can elect to receive the dividend in Canadian dollars in the amount of C$0.0901.
  2. C$0.41100 per preferred share, Series A, payable in cash on December 31, 2024 to preferred share, Series A holders of record on December 13, 2024, for the period from September 30, 2024 to, but excluding, December 31, 2024.
  3. C$0.42831 per preferred share, Series D, payable in cash on December 31, 2024 to preferred share, Series D holders of record on December 13, 2024, for the period from September 30, 2024 to, but excluding, December 31, 2024.

Each of the foregoing dividends will be paid in cash. Effective March 16, 2023, AQN suspended the dividend reinvestment plan ("DRIP") for its common shares. If AQN elects to reinstate the DRIP in the future, shareholders who were enrolled in the DRIP at its suspension and remain enrolled at reinstatement will automatically resume participation in the DRIP.

The quarterly dividends payable on common shares are declared in U.S. dollars. Beneficial shareholders (those who hold common shares through a financial intermediary) who are resident in Canada or the United States may request to receive their dividends in either U.S. dollars or the Canadian dollar equivalent by contacting the financial intermediary with whom the common shares are held. Unless the Canadian dollar equivalent is requested, holders of common shares will receive dividends in U.S. dollars, which, as is often the case, the financial intermediary may convert to Canadian dollars. Registered holders of common shares receive dividend payments in the currency of residency. Registered holders of common shares may opt to change the payment currency by contacting TSX Trust Company at 1-800-387-0825 prior to the record date of the dividend.

The Canadian dollar equivalent of the quarterly common share dividend is based on the Bank of Canada daily average exchange rate on the day before the declaration date.

Pursuant to the Income Tax Act (Canada) and corresponding provincial legislation, AQN hereby notifies holders of common shares, preferred shares, Series A, and preferred shares, Series D that such dividends declared qualify as eligible dividends.

About Algonquin Power & Utilities Corp. and Liberty

Algonquin Power & Utilities Corp., parent company of Liberty, is a diversified international generation, transmission, and distribution utility with approximately $18 billion of total assets. AQN is committed to providing safe, secure, reliable, cost-effective, and sustainable energy and water solutions through its portfolio of electric generation, transmission, and distribution utility investments to over one million customer connections, largely in the United States and Canada. In addition, AQN owns, operates, and/or has net interests in over 4 GW of installed renewable energy capacity. AQN's common shares, preferred shares, Series A, and preferred shares, Series D are listed on the Toronto Stock Exchange under the symbols AQN, AQN.PR.A, and AQN.PR.D, respectively. AQN's common shares and Series 2019-A subordinated notes are listed on the New York Stock Exchange under the symbols AQN and AQNB, respectively.

Visit AQN at www.algonquinpower.com and follow us on X.com @AQN_Utilities.

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SOURCE Algonquin Power & Utilities Corp.

FAQ

What is AQN's Q4 2024 common share dividend amount?

AQN's Q4 2024 common share dividend is US$0.0650 (C$0.0901) per share, payable on January 15, 2025.

When is the record date for AQN's Q4 2024 dividend?

The record date for AQN's Q4 2024 common share dividend is December 31, 2024.

What are the preferred share dividend amounts for AQN in Q4 2024?

Series A preferred shares will receive C$0.41100 and Series D preferred shares will receive C$0.42831, both payable on December 31, 2024.

Is AQN's dividend reinvestment plan (DRIP) currently active?

No, AQN's DRIP has been suspended since March 16, 2023.

Algonquin Power & Utilities Corp

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