Otter Tail Co. (OTTR) to Issue Quarterly Dividend of $0.47 on September 10th

Otter Tail Co. (NASDAQ:OTTR) declared a quarterly dividend on Monday, August 5th, Zacks reports. Shareholders of record on Thursday, August 15th will be given a dividend of 0.468 per share by the utilities provider on Tuesday, September 10th. This represents a $1.87 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend is Thursday, August 15th.

Otter Tail has increased its dividend payment by an average of 5.7% per year over the last three years and has raised its dividend every year for the last 11 years. Otter Tail has a payout ratio of 38.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Otter Tail to earn $4.18 per share next year, which means the company should continue to be able to cover its $1.87 annual dividend with an expected future payout ratio of 44.7%.

Otter Tail Price Performance

Shares of NASDAQ:OTTR opened at $88.99 on Tuesday. The stock has a market capitalization of $3.72 billion, a P/E ratio of 12.10 and a beta of 0.55. The business has a 50-day moving average of $89.75 and a two-hundred day moving average of $88.40. Otter Tail has a fifty-two week low of $68.96 and a fifty-two week high of $100.84. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.92 and a quick ratio of 2.21.

Otter Tail (NASDAQ:OTTR) last released its quarterly earnings results on Monday, August 5th. The utilities provider reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $1.69 by $0.38. The company had revenue of $342.34 million for the quarter, compared to analyst estimates of $367.71 million. Otter Tail had a net margin of 22.55% and a return on equity of 21.58%. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.95 earnings per share. On average, equities research analysts predict that Otter Tail will post 6.35 EPS for the current fiscal year.

Insider Transactions at Otter Tail

In other news, VP Paul L. Knutson sold 4,000 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $90.66, for a total transaction of $362,640.00. Following the transaction, the vice president now owns 20,359 shares in the company, valued at approximately $1,845,746.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 2.30% of the stock is currently owned by corporate insiders.

About Otter Tail

Otter Tail Corporation, together with its subsidiaries, engages in electric utility, manufacturing, and plastic pipe businesses in the United States. It operates through three segments: Electric, Manufacturing, and Plastics. The Electric segment produces, transmits, distributes, and sells electric energy in Minnesota, North Dakota, and South Dakota; and operates as a participant in the Midcontinent Independent System Operator markets.