Algonquin Power & Utilities Corp. reports developments for a diversified international generation, transmission and distribution utility operating through Liberty. The company’s updates center on regulated electric, natural gas, water distribution and wastewater systems, along with Canadian hydroelectric generation assets retained outside the sale of its renewable energy business.
Recurring news themes include quarterly and annual financial results, utility rate-case proceedings, regulated capital plans, cost and operating discipline, common and preferred share dividends, debt reduction, and executive leadership changes. Coverage also reflects the company’s strategic focus on electric, gas and water regulated utility operations across its principal North American markets.
Algonquin Power & Utilities Corp. (AQN) will release its third quarter 2020 financial results on November 12, 2020, after market close. A conference call is scheduled for November 13, 2020, at 10:00 a.m. ET, hosted by CEO Arun Banskota and CFO Arthur Kacprzak. The company emphasizes its commitment to providing reliable utility services across North America, with a strong focus on renewable energy, reporting over $11 billion in assets and a robust portfolio of renewable energy projects.
Algonquin Power & Utilities Corp. (AQN) has successfully completed its acquisition of Empresa de Servicios Sanitarios de Los Lagos S.A. (ESSAL) in Southern Chile, enhancing its regulated utility footprint. The acquisition, valued at approximately $162.1 million, allows APUC to control nearly 94% of ESSAL's shares. This move aligns with APUC's growth strategy and commitment to sustainable utility management. The integration of ESSAL into APUC's operations is expected to leverage best practices in safety and innovation, ultimately serving over 230,000 customers.
Algonquin Power & Utilities Corp. (AQN) announced the retirement of Vice-Chair Christopher Jarratt, effective November 30, 2020. A co-founder, Jarratt has been pivotal in transforming the company into a diversified utility with over $11 billion in total assets. Chairman Ken Moore and CEO Arun Banskota praised Jarratt's leadership and contributions. APUC is committed to delivering reliable utility services and expanding its renewable energy portfolio, currently totaling over 2 GW of installed capacity and additional capacity under construction.
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Algonquin Power & Utilities Corp. (AQN) announced the appointment of Arthur Kacprzak as the new Chief Financial Officer, succeeding David Bronicheski, who has retired. Kacprzak, who joined the company in 2012, has extensive experience in corporate finance and treasury. The transition is described as part of a strategy to ensure continuity in leadership while maintaining the company's growth trajectory. APUC manages approximately $11 billion in assets and focuses on sustainable energy solutions.
Algonquin Power & Utilities Corp. (AQN) announced its agreement to acquire 53.5% of Empresa de Servicios Sanitarios de Los Lagos S.A. (ESSAL) for $92.3 million, expanding its regulated utility presence in Southern Chile. This move positions APUC in a stable, investment-grade OECD country with high GDP growth potential. The acquisition is expected to enhance APUC's Adjusted Net Earnings per share and Adjusted Funds from Operations, as it taps into opportunities in water and clean energy sectors. The deal is anticipated to close in 2020.
Algonquin Power & Utilities Corp. (TSX: AQN) reported financial results for Q2 2020, showing stable revenues of $343.6 million. However, adjusted EBITDA decreased to $176.3 million, down 7% from the previous year. Adjusted net earnings fell 13% to $47.4 million, with earnings per share dropping to $0.09. Despite challenges from the COVID-19 pandemic, the Renewable Energy Group remained stable, and the company announced plans for a four-year partnership with Chevron to develop renewable energy projects. APUC maintains its 2020 capital investment guidance of $1.3 billion to $1.75 billion.
Algonquin Power & Utilities Corp. (AQN) announced preferred share dividends for Q3 2020. Series A shareholders will receive C$0.32263 and Series D shareholders C$0.31819, both payable on September 30, 2020, to shareholders on record as of September 15, 2020. These dividends qualify as eligible dividends under Canadian tax laws. APUC, with assets of approximately $11 billion, operates in energy and water solutions, serving around 807,000 connections in the U.S. and Canada, and is recognized for its renewable energy initiatives.
Algonquin Power & Utilities Corp. (AQN) announced a dividend of U.S. $0.1551 per share for the third quarter of 2020. This dividend is payable on October 15, 2020, to shareholders on record as of September 30, 2020, for the period from July 1 to September 30, 2020. Shareholders can opt for cash dividends in Canadian dollars at C$0.2056. APUC, a leader in renewable energy, manages approximately $11 billion in assets and serves about 807,000 connections in North America.
Algonquin Power & Utilities Corp. and Chevron U.S.A. have announced a collaboration to co-develop renewable energy projects expected to generate over 500 megawatts (MW) of electricity. This four-year agreement aims to support Chevron's global operations while reducing its carbon footprint. The projects, planned to commence in 2021, will be located in the U.S. Permian Basin, Argentina, Kazakhstan, and Western Australia. This initiative aligns with Chevron's commitment to cleaner energy and represents a significant capacity equivalent to powering 400,000 U.S. households for a year.