Hi guys I have some exciting news to share with you. Today Algonquin Power & Utilities Corp increased their dividend by 10%. Algonquin Power & Utilities Corp. is a $5 billion dollar North American diversified generation, transmission and distribution utility. The Distribution group provides rate regulated water, electricity and natural gas utility services to over 560,000 customers in the United States. The Generation group owns a portfolio of North American based contracted wind, solar, hydroelectric and natural gas powered generating facilities representing more than 1,100 MW of installed capacity. The Transmission group invests in rate regulated electric transmission and natural gas pipeline systems in the United States and Canada.
The current dividend is $0.0963USD and the 10% increase will take it to $0.1059USD. The new dividend will be payable on July 15, 2016 for shareholders of record on June 30, 2016. I currently own 309 shares and with this increase my income will increase by $5.92USD ($7.61CDN) if the exchange rate remains the same and if the dividend does not increase further or decrease the rest of the year.
Congrats to all my fellow shareholders for receiving the raise.
