Welcome to our dedicated page for Algonquin Power news (Ticker: AQN), a resource for investors and traders seeking the latest updates and insights on Algonquin Power stock.
Algonquin Power & Utilities Corp (AQN) delivers essential utility services and renewable energy solutions across North America. This page provides centralized access to official company announcements, financial updates, and strategic developments.
Investors and stakeholders will find timely updates on earnings reports, regulatory filings, infrastructure investments, and sustainability initiatives. Our curated collection includes press releases detailing operational milestones, partnership announcements, and progress toward renewable energy targets.
Key areas of coverage include rate-regulated utility operations, renewable energy project updates, and strategic acquisitions. Content is organized for quick scanning while maintaining compliance with financial disclosure standards.
Bookmark this page for direct access to AQN's latest developments in water, electricity, and natural gas services alongside their growing portfolio of wind, solar, and hydroelectric assets. Check regularly for unfiltered updates straight from company sources.
LS Power has agreed to acquire Algonquin Power & Utilities Corp.'s (AQN) renewable energy business, significantly expanding its renewable portfolio. The acquisition includes 44 operating assets with over 3,000 MW capacity and an 8,000 MW project pipeline across the US and Canada. The deal, expected to close in Q4 2024 or Q1 2025, will complement LS Power's existing 19,000 MW fleet of renewable and flexible energy projects.
The acquired assets are strategically located across major US markets (NYISO, MISO, PJM, ERCOT, CAISO) and Canada. This move aligns with LS Power's focus on meeting rising electric demand and advancing the energy transition through its various platforms, including REV Renewables, EVgo, CPower Energy Management, and others.
Algonquin Power & Utilities Corp. (AQN) has declared its third quarter 2024 dividends for common and preferred shares. The company will pay US$0.0650 (C$0.0893) per common share on October 15, 2024, to shareholders of record on September 30, 2024. For preferred shares, AQN will distribute C$0.41100 per Series A share and C$0.42831 per Series D share on October 1, 2024, to holders of record on September 13, 2024. The dividends will be paid in cash, as AQN suspended its dividend reinvestment plan (DRIP) for common shares on March 16, 2023. Shareholders can request to receive dividends in either U.S. or Canadian dollars, with the Canadian equivalent based on the Bank of Canada's exchange rate one day before the declaration date.
Algonquin Power & Utilities Corp. (AQN) reported its Q2 2024 financial results, highlighting progress towards becoming a pure-play regulated utility. Key points include:
- Agreement to sell renewable energy business to LS Power for up to $2.5 billion
- Q2 Adjusted EBITDA of $311.0 million, up 12% year-over-year
- Q2 Adjusted Net Earnings of $65.2 million, up 16% year-over-year
- Q2 Adjusted Net Earnings per share of $0.09, up 13% year-over-year
- Dividend reduced by 40% to $0.065 per share for Q3 2024
- Plans to reduce capital expenditures and focus on improving earnings and capital sustainability
The company aims to strengthen its balance sheet, enhance earnings quality, and create long-term value for customers and shareholders through these strategic moves.
Algonquin Power & Utilities Corp. (AQN) has agreed to sell its renewable energy business (excluding hydro) to LS Power for up to $2.5 billion. The transaction includes $2.28 billion in cash at closing and up to $220 million in earn-out payments. This strategic move aims to transform AQN into a pure-play regulated utility, strengthen its balance sheet, and enhance earnings quality.
The deal is expected to close in Q4 2024 or Q1 2025, subject to regulatory approvals. AQN anticipates receiving approximately $1.6 billion in net cash proceeds after adjustments. The company's board unanimously approved the transaction, which aligns with AQN's objective to create long-term value for customers and shareholders.
Algonquin Power & Utilities Corp. (TSX: AQN, NYSE: AQN) announced it will release its second-quarter 2024 financial results on August 9, 2024, before market open. The results will be discussed in an earnings conference call at 8:30 a.m. ET the same day, hosted by CEO Chris Huskilson and CFO Darren Myers. Investors and analysts can join the call via toll-free dial-in at 1 (800) 715-9871 or toll dial-in at 1 (647) 932-3411 using Conference ID 9608227. The event will also be webcasted, with a presentation available at www.algonquinpower.com.
Algonquin Power & Utilities Corp. (TSX: AQN, NYSE: AQN) announced the settlement rate for its corporate units issued in June 2021. Holders will receive 3.3439 common shares per share purchase contract at an effective issuance price of $14.9526 per share. The settlement is based on the average volume-weighted price on the NYSE for the past 20 trading days, adjusted for certain events.
On June 17, 2024, holders will receive the shares following a $50 payment per unit, satisfied via proceeds from a Treasury portfolio linked to senior notes remarketed in March 2024. This will yield $1.15 billion for Algonquin, issuing approximately 76.9 million shares. Furthermore, on June 17, 2024, there will be a final cash distribution of $0.96875 per unit, and the corporate units will be delisted from the NYSE.
Algonquin Power & Utilities Corp. (AQN) held its annual meeting of shareholders on June 4, 2024. During the meeting, nine directors were elected with high approval rates, ranging from 97.05% to 99.20%. Shareholders also re-appointed Ernst & Young LLP as auditors and approved amendments to several share unit plans and the company's executive compensation approach. Detailed voting results will be filed with various securities regulatory authorities.
Algonquin Power & Utilities Corp. (TSX: AQN) (NYSE: AQN) announces a support agreement with Energy Capital Partners and Atlantica Sustainable Infrastructure plc (NASDAQ: AY). AQN's subsidiary Liberty, holding 42.2% of Atlantica shares, will vote in favor of Bidco's acquisition of Atlantica for $22.00 per share, a transaction valuing Atlantica at approximately $2,555 million. This represents an 18.9% premium on Atlantica's closing price on April 22, 2024. Proceeds from AQN's $1,077 million stake will help reduce debt and focus on becoming a pure-play regulated utility. The transaction, subject to several approvals, is expected to close by late 2024 or early 2025.
Algonquin Power & Utilities Corp. announced second quarter 2024 dividends: US$0.1085 per common share payable on July 15, 2024, and C$0.41100 and C$0.42831 per preferred shares, Series A and D respectively, payable on July 2, 2024. The dividends will be paid in cash, and the DRIP for common shares was suspended in March 2023. Shareholders can choose to receive dividends in either U.S. dollars or Canadian dollars.
Algonquin Power & Utilities Corp. appointed Chris Huskilson as CEO, emphasizing strategic transformation and cost reduction. The company reported positive growth in Q1 financial results but also a decrease in adjusted net earnings. Various financing transactions closed to support business simplification and growth. The CEO highlighted progress on strategic initiatives and future plans.
FAQ
What is the current stock price of Algonquin Power (AQN)?
What is the market cap of Algonquin Power (AQN)?
