Welcome to our dedicated page for Polaris Renewable Energy news (Ticker: RAMPF), a resource for investors and traders seeking the latest updates and insights on Polaris Renewable Energy stock.
Polaris Renewable Energy Inc. operates renewable energy projects across Latin America, specializing in geothermal, hydroelectric, solar, and wind power generation. This news hub provides investors and industry stakeholders with essential updates about the company's operational milestones, financial performance, and strategic initiatives.
Access consolidated press releases covering quarterly earnings, new project commissions, sustainability achievements, and partnership developments. Our repository ensures timely updates about power purchase agreement renewals, capacity expansions, and environmental stewardship efforts central to Polaris' renewable energy operations.
Key content includes operational updates from geothermal plants in Nicaragua, hydroelectric facility enhancements in Peru, and solar/wind project developments across the Caribbean basin. Track the company's progress in maintaining 95%+ operational availability across assets while expanding its 150MW+ renewable portfolio.
Bookmark this page for direct access to verified information about Polaris' renewable energy projects, financial disclosures, and leadership updates. Regularly updated content supports informed analysis of the company's role in Latin America's energy transition and competitive positioning within green infrastructure markets.
Polaris Renewable Energy (TSX:PIF) has announced a quarterly dividend of US$0.15 per common share. The dividend will be paid on November 22nd, 2024 to shareholders of record as of November 11th, 2024. The company confirms this is an 'eligible dividend' for Canadian tax purposes. The board of directors has expressed their commitment to maintaining quarterly dividend payments and will consider potential increases in the future.
Polaris Renewable Energy has announced the acquisition of Punta Lima Wind Farm in Puerto Rico through an Equity Capital Contribution Agreement. The 26.0 MW operating onshore wind farm has a 20-year power purchase agreement with PREPA extending until March 2044. The transaction, structured as a tax-equity deal, involves a $20 million equity contribution from Polaris, who will become the manager and operator with controlling interest, while Santander retains a tax equity position. The deal is expected to close in approximately 90 days, pending regulatory approvals.
Polaris Renewable Energy Inc. (TSX:PIF) has announced details for its Q3 2024 Earnings Conference Call and Webcast. The event is scheduled for Thursday, October 31st, 2024, at 10:00 am EST. Investors can participate by dialing Toll Free 888-506-0062 or International Toll-Free Number 973-528-00-11 with entry code 793587. Alternatively, they can access the webcast via the provided URL.
A digital recording of the earnings call will be available for replay two hours after the call's completion. Replay options include:
- Toronto: 1 877-481-4010, Passcode: 50364
- International (toll-free): 1 919-882-2331, Passcode: 50364
The replay will be available until November 14, 2024.
Polaris Renewable Energy Inc. (TSX:PIF) has announced the renewal of its Normal Course Issuer Bid (NCIB) approved by the Toronto Stock Exchange. Under the renewed NCIB, Polaris may purchase up to 2,045,613 common shares, representing 10% of its public float. The Board has approved the repurchase of up to 194,595 shares (0.95% of public float) during the period from August 23, 2024, to August 22, 2025. As of August 20, 2024, Polaris had 21,078,642 shares issued and outstanding. The company can purchase a maximum of 12,865 shares daily through the TSX. Under the current NCIB, Polaris has repurchased 25,400 shares at a weighted-average price of $13.05 per share. The company had USD$45.2 million in unrestricted consolidated cash as of June 30.
Polaris Renewable Energy Inc. (TSX:PIF) has declared a quarterly dividend of US$0.15 per common share. The dividend will be paid on August 23rd, 2024 to shareholders of record at the close of business on August 12th, 2024. This dividend is designated as an "eligible dividend" for Canadian tax purposes. The company's board of directors remains committed to paying quarterly dividends and will consider future dividend increases as appropriate.
Polaris Renewable Energy Inc. (TSX:PIF) reported its Q2 2024 financial results. Key highlights include:
- Consolidated energy production of 186,887 MWh, down 11% year-over-year
- Revenue of $18.7 million, compared to $20.8 million in Q2 2023
- Net earnings of $985,000 or $0.05 per share
- Adjusted EBITDA of $13.3 million
- Cash position of $45.2 million, including restricted cash
- Quarterly dividend of $0.15 per share declared
The decrease in production and revenue was primarily due to scheduled maintenance at the Nicaragua geothermal facility and lower hydrology in Peru. Despite challenges, the company maintained cost control measures and expects generation for the remainder of the year to align with expectations.
Polaris Renewable Energy Inc. (TSX:PIF) has announced details for its Q2 2024 Earnings Conference Call and Webcast, scheduled for Thursday, August 1st, 2024, at 10:00 am EST. Investors can participate by dialing 888-506-0062 (Toll Free) or 973-528-00-11 (International Toll-Free) with entry code 100892. Alternatively, they can access the webcast via the provided URL.
A digital recording of the earnings call will be available for replay two hours after the call's completion. Replay options include dialing 1 877-481-4010 (Toronto) or 1 919-882-2331 (International toll-free) with passcode 50363. The replay will be available until August 15, 2024.
Polaris Renewable Energy announced the election results for its board of directors at the annual and special meeting held on June 20, 2024, via live video webcast. All six director nominees proposed by management were elected. Each director will hold their position until the next annual meeting or until successors are duly elected or appointed.
The voting results based on proxies received and online ballots are as follows:
Jaime Guillen: 8,886,119 votes for (88.49%), 1,155,306 votes withheld (11.51%)
James V. Lawless: 8,884,873 votes for (88.48%), 1,156,552 votes withheld (11.52%)
Marc Murnaghan: 8,890,436 votes for (88.54%), 1,150,989 votes withheld (11.46%)
Marcela Paredes de Vásquez: 8,878,715 votes for (88.42%), 1,162,710 votes withheld (11.58%)
Catherine Fagnan: 8,865,120 votes for (88.29%), 1,176,305 votes withheld (11.71%)
Adarsh P. Mehta: 8,888,570 votes for (88.52%), 1,152,855 votes withheld (11.48%)
Polaris Renewable Energy has announced a proposed amendment to its omnibus long-term incentive plan, transitioning from a rolling plan to a fixed plan. This change has been approved by the company's board of directors and will be presented for shareholder approval at the upcoming meeting on June 20, 2024. An amendment to the management information circular dated May 17, 2024, detailing the specific changes, will be filed shortly. The effectiveness of these amendments is contingent upon receiving all necessary approvals, including shareholder and regulatory approvals.
Polaris Renewable Energy reported its Q1 2024 financial and operating results, highlighting a decrease in energy production, an increase in revenue, flat direct costs, and a quarterly dividend declaration. Despite lower production, revenue increased due to higher prices in power purchase agreements and spot markets. Adjusted EBITDA improved, while net earnings and cash flow from operating activities saw a slight decline. The Company remains focused on sustainability initiatives and maintaining a strong financial position.
