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.
On April 17, 2023, Algonquin Power & Utilities Corp. (AQN) announced that its subsidiary Liberty Utilities has mutually terminated the stock purchase agreement with American Electric Power (AEP) regarding Kentucky Power Company and AEP Kentucky Transmission Company. This decision comes after careful consideration of the current macro environment, as stated by AQN's CEO, Arun Banskota. The company maintains its projected Adjusted Net Earnings per share for 2023 at $0.55 to $0.61 and plans to release its Q1 2023 financial results on May 11, 2023. AQN highlights its robust asset base and commitment to sustainable growth. Additional investor information is available on its website.
Algonquin Power & Utilities Corp. (AQN) announced its board of directors approved dividends for the first quarter of 2023. Common shareholders will receive US$0.1085 per share, payable on April 14, 2023, with a record date of March 31, 2023. Preferred Series A shareholders will receive C$0.32263 and Series D shareholders C$0.31819, both payable on March 31, 2023, with a record date of March 24, 2023. Additionally, the company suspended its dividend reinvestment plan on March 16, 2023.
Algonquin Power & Utilities Corp. (AQN) announced plans to release its Q4 and full-year 2022 financial results on March 17, 2023, before market opening. The earnings conference call will take place at 8:30 a.m. ET, hosted by CEO Arun Banskota and CFO Darren Myers. AQN boasts over $17 billion in total assets and operates in the U.S. and Canada, serving over one million customers. The company leads in renewable energy with over 4 GW of installed capacity. The results and their implications will be pivotal for investors looking to track AQN's performance.
Algonquin Power & Utilities Corp. (AQN) held an investor update on January 12, 2023, outlining plans to strengthen its financial and strategic positions amid evolving market challenges. CEO Arun Banskota stated the company will reduce capital expenditures and realign capital allocation while focusing on sustainable growth. Key actions include lowering the quarterly dividend from $0.1808 to $0.1085, pursuing the Kentucky Power Acquisition, targeting $1 billion in asset sales, and suspending the dividend reinvestment plan. AQN expects Adjusted Net Earnings per common share of $0.55 to $0.61 for the fiscal year 2023.
Algonquin Power & Utilities Corp. (AQN) has declared a fourth-quarter common share dividend of US$0.1808, payable on January 13, 2023, to shareholders of record by December 30, 2022. Shareholders can opt to receive the dividend in Canadian dollars at C$0.2438. Additionally, preferred share dividends include C$0.32263 for Series A and C$0.31819 for Series D, both payable on January 3, 2023. The dividends qualify as eligible dividends under Canadian tax law.
Algonquin Power & Utilities Corp. (AQN) has announced the release of its third quarter 2022 financial results on November 11, 2022, before market open. A conference call will take place at 8:00 a.m. ET on the same day, featuring CEO Arun Banskota and CFO Darren Myers. The company maintains a diversified portfolio of over $17 billion in total assets, focusing on renewable energy and utility services across the U.S. and Canada, with more than 4 GW of installed renewable energy capacity.
Algonquin Power & Utilities Corp. (AQN) announced a significant asset recycling initiative, selling a 49% stake in three U.S. wind projects (totaling 551 MW) and 80% in a Canadian facility (175 MW) to InfraRed Capital Partners. The total cash proceeds are expected to be around US$277 million and C$107 million. AQN will maintain operational oversight and management services. This transaction, anticipated to close in Q4 2022, is part of a broader $12.4 billion capital plan extending to 2026, aimed at enhancing shareholder value through renewable energy projects.
American Electric Power (AEP) has signed an amended agreement for the sale of its Kentucky operations to Liberty, with a closing expected in January 2023, pending Federal Energy Regulatory Commission (FERC) approval by December 16. Liberty will acquire Kentucky Power and AEP Kentucky Transco for $2.646 billion, with AEP receiving about $1.2 billion in cash after taxes and fees. AEP anticipates a pre-tax GAAP loss of $180 million to $220 million in Q3 2022 due to this amendment. The deal is expected to enhance customer benefits in Eastern Kentucky and support AEP's future investments.
On September 29, 2022, Liberty Utilities, a subsidiary of Algonquin Power & Utilities Corp. (AQN), amended its stock purchase agreement to acquire Kentucky Power Company and AEP Kentucky Transmission Company for a revised price of $2.646 billion, including $1.221 billion in debt. The acquisition aims to enhance AQN's regulated services in the U.S. and is pending approval from the U.S. Federal Energy Regulatory Commission, expected to close in January 2023. This transaction aligns with AQN's growth strategy and commitment to customer service in Kentucky.
Algonquin Power & Utilities Corp. (AQN) appointed Darren Myers as Chief Financial Officer, succeeding Arthur Kacprzak, who steps down immediately but will assist in the transition until year-end. Myers brings extensive experience, having served as CFO at Loblaw and Celestica. CEO Arun Banskota expressed confidence in Myers’ ability to deliver strong financial results, while Chairman Ken Moore emphasized the importance of this leadership change for shareholder returns. AQN remains focused on growth in renewable energy and maintaining a solid balance sheet.
