Utility operator Atlantic Power announced yesterday that its monthly May dividend of $0.03333 Canadian per share, will be the same rate it's paid for the last two months, after having slashed the payout 65% in February, from $0.0958 Canadian per share.
The board of directors said the quarterly dividend is payable on June 28 to the holders of record at the close of business on May 31. Atlantic has made a regular monthly payment every year since 2009.
The regular dividend payment equates to a $0.39-per-share Canadian annual dividend yielding 7.5% based on the closing price of Atlantic Power's stock on May 15.
The article Atlantic Power Keeps Monthly May Dividend Steady originally appeared on Fool.com.Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.