Atlantic Power Keeps August Dividend Steady

Atlantic Power announced Thursday that it will keep its monthly August dividend distribution level with the previous month, returning Canadian $0.0333 ($0.032) per share back to its investors.

The Canada-based utility has operations in the U.S. and Canada, and recently announced another quarter of better-than-expected earnings. The utility's shares have fallen significantly since its March announcement that it would cut its dividend by 66% to "establish a lower and more sustainable Payout Ratio that balances yield and growth."

AT Dividend Chart


AT Dividend data by YCharts.

The monthly dividend will be payable on Sept. 30 to Atlantic shareholders of record on Aug. 30, with non-Canadians subject to a 15% to 25% withholding tax rate. At current share prices, Atlantic Power's distribution offers investors a 9.6% annual yield.

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The article Atlantic Power Keeps August Dividend Steady originally appeared on Fool.com.

Fool contributor Justin Loiseau has no position in any stocks mentionedbut he does use electricity. You can follow him on Twitter, @TMFJLo, and on Motley Fool CAPS, @TMFJLo. 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.

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