Welcome to our dedicated page for Algonquin Power news (Ticker: AQN), a resource for investors and traders seeking the latest updates and insights on Algonquin Power stock.
Algonquin Power & Utilities Corp. (AQN) generates a steady stream of news as a diversified international generation, transmission, and distribution utility and the parent company of Liberty. With regulated electric, water, wastewater, and natural gas utilities in multiple jurisdictions and hydroelectric generation facilities in Canada, the company regularly reports developments that matter to investors, customers, and regulators.
News coverage for AQN commonly features quarterly and interim financial results, where the company discusses performance of its Regulated Services Group, Hydro Group, and Corporate Group. These updates often highlight the impact of approved rates across its utilities, regulatory proceedings at specific systems, and the contribution of hydroelectric generation in Canada. Releases also describe the use of non-GAAP measures such as Adjusted Net Earnings and provide reconciliations to U.S. GAAP metrics.
Another key category of AQN news is corporate and leadership announcements. Recent items include the appointment of a Chief Operating Officer to lead electric, gas, and water regulated utility operations, as well as the creation of roles such as Chief Regulatory and External Affairs Officer and Chief Customer Officer. These updates explain how new executives are expected to support Algonquin’s focus on operational execution, regulatory strategy, and customer experience.
Investors following AQN will also see dividend declarations for its common and preferred shares, including details on payment currencies and eligibility under Canadian tax legislation, as well as announcements of dates for upcoming financial results and earnings conference calls. Annual meeting results, including director elections and shareholder votes on matters such as the shareholder rights plan and executive compensation approach, are also reported.
By tracking the AQN news feed, readers can monitor financial performance, regulatory milestones, leadership changes, dividend decisions, and governance developments that shape the company’s profile as a regulated utility and hydroelectric power operator.
Algonquin Power & Utilities Corp. (AQN) has announced plans for two underwritten public offerings: U.S. dollar denominated junior subordinated notes series 2022-B and Canadian dollar denominated junior subordinated notes series 2022-A, both due in 2082. The offerings aim to partially finance the acquisition of Kentucky Power Company and its related transmission company, while initially reducing existing credit facility debts. The offerings are not contingent on each other, and there are no guarantees of completion.
Algonquin Power & Utilities Corp. (AQN) has completed the acquisition of New York American Water Company for approximately $608 million. This acquisition, conducted by Liberty Utilities, enhances AQN's presence in the southeastern New York water utility market, serving over 125,000 customer connections. The acquisition is expected to improve local service and employment through the reintegration of customer service operations back to Long Island. AQN aims to leverage its expertise in utility operations for better customer satisfaction in the region.
Algonquin Power & Utilities Corp. (AQN) hosted its annual Investor Day, detailing a robust capital plan of $12.4 billion for 2022-2026, a significant increase from the previous plan. The company is poised to enhance its greenfield pipeline with over 600 MW of new projects, including solar and wind developments in the U.S. AQN anticipates Adjusted Net Earnings per share between $0.72 and $0.77 for fiscal year 2022, projecting a 7%-9% growth rate for the next five years. Approximately 70% of the capital will be allocated to its Regulated Services Group, emphasizing their commitment to sustainability.
Algonquin Power & Utilities Corp. (AQN) will host its annual Analyst and Investor Day via webcast on December 14, 2021, from 9:00 a.m. to 11:30 a.m. EST. President Arun Banskota and CFO Arthur Kacprzak will provide a strategic overview and financial outlook alongside the executive team. Access the webcast at https://webinars.vantagevenues.com/algonquin-investor-day-2021 or dial in toll-free at 1-833-670-0721 using passcode 9180565. AQN, with over $16 billion in total assets and a strong renewable energy portfolio, emphasizes sustainable energy solutions.
Algonquin Power & Utilities Corp. (AQN) has declared a fourth-quarter 2021 common share dividend of US$0.1706, payable on January 14, 2022, to shareholders of record on December 31, 2021. For Canadian dollar equivalents, the amount is C$0.2124. Additionally, C$0.32263 and C$0.31819 dividends for Series A and D preferred shares will be paid on December 31, 2021. The dividends qualify as eligible dividends under Canadian tax law.
Algonquin Power & Utilities Corp. (AQN) reported a 40% increase in Q3 2021 revenues, totaling $528.6 million, compared to the same quarter in 2020. Adjusted EBITDA rose 27% to $252.0 million, while Adjusted Net Earnings increased 11% to $97.6 million. However, net earnings attributable to shareholders decreased significantly, resulting in a per-share loss of $0.05. AQN has announced the acquisition of Kentucky Power Company and Kentucky Transmission Company for $2.846 billion, alongside plans to issue an C$800 million share offering to finance this acquisition.
Algonquin Power & Utilities Corp. (AQN) announced the acquisition of Kentucky Power Company and AEP Kentucky Transmission Company for approximately $2.846 billion, including $1.221 billion in debt. This strategic move is expected to enhance AQN's regulated asset base by over $2 billion, increase its customer connections to 1.4 million, and boost its Adjusted Net Earnings per share. The acquisition aligns with AQN's commitment to achieve net-zero emissions by 2050, utilizing its expertise to transition Kentucky Power's generation from fossil fuels to renewable sources.
American Electric Power (Nasdaq: AEP) has agreed to sell its Kentucky operations, which include Kentucky Power and AEP Kentucky Transco, to Liberty, a subsidiary of Algonquin Power & Utilities Corp. (NYSE: AQN), for an enterprise value of $2.846 billion. The deal is expected to close in Q2 2022, pending regulatory approvals. AEP anticipates net cash proceeds of approximately $1.45 billion after taxes and fees, which will reduce equity needs for 2022. The sale is estimated to add $0.01-$0.02 to ongoing earnings in 2022.
Algonquin Power & Utilities Corp. (AQN) will release its third quarter 2021 financial results on November 11, 2021, after market close. A conference call led by CEO Arun Banskota and CFO Arthur Kacprzak will be held on November 12, 2021, at 10:00 a.m. ET. As a diversified utility, Algonquin serves over one million customers primarily in the U.S. and Canada, with total assets exceeding $16 billion and over 4 GW of installed renewable energy capacity.
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