Otter Tail Corporation (NASDAQ:OTTR) Shareholders to Get $0.58 Quarterly Dividend

Otter Tail Corporation (NASDAQ:OTTR) declared a quarterly dividend on Monday, November 2nd. Shareholders of record on Friday, November 13th will be given a dividend of $0.5775 per share by the utilities provider on Thursday, December 10th. This represents a $2.31 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, November 13th.

Otter Tail has raised its dividend by an average of 0.1% annually over the last three years and has raised its dividend annually for the last 12 consecutive years. Otter Tail has a payout ratio of 42.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Otter Tail to earn $4.38 per share next year, which means the company should continue to be able to cover its $2.31 annual dividend with an expected future payout ratio of 52.7%.

Otter Tail Trading Up 1.3%

NASDAQ:OTTR opened at $91.51 on Tuesday. The company has a current ratio of 1.71, a quick ratio of 1.36 and a debt-to-equity ratio of 0.60. The firm has a fifty day simple moving average of $89.42 and a two-hundred day simple moving average of $88.81. The stock has a market capitalization of $3.84 billion, a price-to-earnings ratio of 19.72 and a beta of 0.42. Otter Tail has a 12 month low of $74.15 and a 12 month high of $95.09.

Otter Tail (NASDAQ:OTTR) last issued its earnings results on Monday, November 2nd. The utilities provider reported $1.41 EPS for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.14). The firm had revenue of $320.51 million during the quarter, compared to the consensus estimate of $327.87 million. Otter Tail had a net margin of 14.83% and a return on equity of 14.56%. The business’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.86 earnings per share. Analysts expect that Otter Tail will post 5.96 EPS for the current fiscal year.

About Otter Tail

Otter Tail Corporation is a diversified company headquartered in Fergus Falls, Minnesota. Through its electric utility subsidiary, Otter Tail Power Company, it generates, transmits and distributes electricity to residential, commercial, industrial and agricultural customers.

Otter Tail Power Company serves customers across portions of western Minnesota, eastern North Dakota and northeastern South Dakota. Its generation portfolio includes coal, natural gas, wind and other energy resources, supporting the company’s role as a regional provider of electric power and related utility services.

Beyond its utility operations, Otter Tail Corporation owns manufacturing businesses that produce fabricated metal components, plastic products and other specialized goods.