Atlantic Power Keeps August Dividend Steady
Aug 16th 2013 10:41AM
Updated Aug 16th 2013 10:44AM
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."
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.
The article Atlantic Power Keeps August Dividend Steady originally appeared on Fool.com.Fool contributor Justin Loiseau has no position in any stocks mentioned, but 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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