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Algonquin Power & Utilities Corp - AQN STOCK NEWS

Welcome to our dedicated page for Algonquin Power & Utilities news (Ticker: AQN), a resource for investors and traders seeking the latest updates and insights on Algonquin Power & Utilities stock.

Algonquin Power & Utilities Corp. (AQN) is a leading North American diversified utility company with a market capitalization of $3.6 billion. AQN operates through two main business groups: the Regulated Services Group and the Renewable Energy Group. The Regulated Services Group provides rate-regulated water, electricity, and natural gas utility services to over 485,000 customers across the United States. The Renewable Energy Group, on the other hand, owns or has interests in contracted wind, solar, hydroelectric, and natural gas-powered generating facilities with over 1,100 MW of installed capacity in the United States and Canada.

Headquartered in Oakville, Ontario, Algonquin Power & Utilities Corp. also operates under the brand Liberty, managing more than $16 billion in total assets. The company is committed to delivering safe, reliable, and sustainable energy and water solutions. AQN emphasizes organic growth within its regulated utilities and an expanding pipeline of renewable energy development projects. Additionally, AQN continues to pursue accretive acquisitions that add value to its diverse portfolio.

Recent achievements include significant financial growth, as reflected in the double-digit Divisional Operating Profit growth of its Regulated Services Group. The company has successfully implemented new rate changes, reflecting its investments in system improvements. Furthermore, AQN recently placed into service 453 MW of new wind and solar generation facilities, demonstrating its ongoing commitment to renewable energy.

Algonquin Power & Utilities Corp. also announced multiple dividends on its common and preferred shares, showcasing its strong financial condition. The company's common shares and preferred shares Series A and D are traded on the Toronto Stock Exchange under the symbols AQN, AQN.PR.A, and AQN.PR.D, respectively. Its common shares and other financial instruments are also listed on the New York Stock Exchange under the symbols AQN, AQNB, and AQNU.

In recent news, AQN has been focused on streamlining its operations by winding down its international non-regulated development activities. The company has also entered into a significant support agreement to sell its stake in Atlantica Sustainable Infrastructure plc (NASDAQ: AY), which will help reduce debt and reinforce its transition to a pure-play regulated utility. Additionally, AQN has successfully remarketed $1.15 billion in senior notes, reflecting investor confidence in its long-term strategy.

As the company continues its strategic transformation, it aims to focus more on its regulated utility operations while maintaining a strong commitment to renewable energy. This approach is expected to generate sustainable growth and long-term value for shareholders.

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Algonquin Power & Utilities Corp. appointed Chris Huskilson as CEO, emphasizing strategic transformation and cost reduction. The company reported positive growth in Q1 financial results but also a decrease in adjusted net earnings. Various financing transactions closed to support business simplification and growth. The CEO highlighted progress on strategic initiatives and future plans.

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Algonquin Power & Utilities Corp. announced the addition of Brett Carter and Christopher Lopez to its Board of Directors. This decision follows the retirement plans of Masheed Saidi and Kenneth Moore. The Company entered into a cooperation agreement with Starboard Value LP, withdrawing previously-announced director nominations. The Agreement includes provisions on Board composition, voting, and discussions regarding the sale of the Company's renewable energy business and CEO search. The new Board members bring expertise in utility operations, regulatory matters, and corporate finance. Algonquin aims to enhance shareholder value through strategic transformation.
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Algonquin Power & Utilities Corp. (AQN) is set to announce its first quarter 2024 financial results on May 10, 2024. The earnings conference call will be hosted by Interim CEO Chris Huskilson and CFO Darren Myers at 8:30 a.m. ET.
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Algonquin Power & Utilities Corp. successfully remarkets $1,150,000,000 Senior Notes due June 15, 2026. The Notes will bear interest at 5.365% per year and the remarketing is expected to close on March 28, 2024. Proceeds will be used to purchase treasury securities and settle Purchase Contracts.
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Algonquin Power & Utilities Corp. responds to director nominations by Starboard Value LP for the 2024 Annual Meeting of Shareholders. The company is focused on enhancing shareholder value through key initiatives like selling its renewable energy business and repositioning for a more efficient future.
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Algonquin Power & Utilities Corp. (AQN) announced that none of its outstanding 4,000,000 Cumulative Rate Reset Preferred Shares, Series D will be converted into Cumulative Floating Rate Preferred Shares, Series E. Less than 1,000,000 Series D Preferred Shares were tendered for conversion during the notice period, resulting in no issuance of Series E Preferred Shares.
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Algonquin Power & Utilities Corp. (AQN) announces dividend payouts for common and preferred shares, with US$0.1085 per common share and varying amounts for preferred shares. Dividends to be paid in cash, with options for Canadian dollar payouts. The company suspended its DRIP for common shares in 2023. Shareholders can choose to receive dividends in either US dollars or Canadian dollars. Dividends declared qualify as eligible dividends under Canadian tax laws.
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Algonquin Power & Utilities Corp. announces financial results for Q4 and full year 2023, highlighting growth in Adjusted EBITDA and Net Earnings. The Company plans to refocus its operations and sell its renewables business in 2024.
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Algonquin Power & Utilities Corp. announces dividend rates for its Series D and Series E Preferred Shares. The dividend rates for Series D and Series E Preferred Shares are determined based on government bond yields. Holders of Series D Preferred Shares will receive fixed cumulative preferential cash dividends, while holders of Series E Preferred Shares will receive floating rate cumulative preferential cash dividends. The announcement includes specific dividend rates for upcoming periods and conversion instructions for Series D Preferred Shares.
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Algonquin Power & Utilities Corp. announces the decision not to redeem 4,000,000 Cumulative Rate Reset Preferred Shares, Series D and provides details on the conversion process into Cumulative Floating Rate Preferred Shares, Series E. The dividend rates for both series will be determined on March 1, 2024. Holders have until March 18, 2024, to convert their shares.
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FAQ

What is the current stock price of Algonquin Power & Utilities (AQN)?

The current stock price of Algonquin Power & Utilities (AQN) is $5.06 as of October 14, 2024.

What is the market cap of Algonquin Power & Utilities (AQN)?

The market cap of Algonquin Power & Utilities (AQN) is approximately 3.9B.

What services does Algonquin Power & Utilities Corp. provide?

Algonquin Power & Utilities Corp. provides rate-regulated water, electricity, and natural gas utility services to over 485,000 customers in the United States and operates renewable energy generating facilities in the U.S. and Canada.

What recent achievements has Algonquin Power & Utilities Corp. made?

Recent achievements include double-digit Divisional Operating Profit growth in its Regulated Services Group, the installation of 453 MW of new wind and solar generation, and multiple dividend announcements.

What is the market capitalization of Algonquin Power & Utilities Corp.?

Algonquin Power & Utilities Corp. has a market capitalization of approximately $3.6 billion.

What are the trading symbols for Algonquin Power & Utilities Corp.?

The company's common shares and preferred shares Series A and D are listed on the Toronto Stock Exchange under the symbols AQN, AQN.PR.A, and AQN.PR.D. They are also listed on the New York Stock Exchange under the symbols AQN, AQNB, and AQNU.

What are the major business groups of Algonquin Power & Utilities Corp.?

The major business groups are the Regulated Services Group and the Renewable Energy Group.

How is Algonquin Power & Utilities Corp. performing financially?

AQN has shown strong financial performance with double-digit Divisional Operating Profit growth in its Regulated Services Group, successful rate implementations, and multiple dividend declarations.

What is the focus of Algonquin Power & Utilities Corp.'s recent strategic initiatives?

The recent strategic initiatives focus on transitioning to a pure-play regulated utility by winding down non-regulated activities, selling its stake in Atlantica Sustainable Infrastructure plc, and remarketing $1.15 billion in senior notes.

What is Algonquin Power & Utilities Corp.'s commitment to renewable energy?

AQN is committed to renewable energy through its portfolio of contracted wind, solar, hydroelectric, and natural gas-powered generating facilities, representing over 1,100 MW of installed capacity.

Where can I find more information about Algonquin Power & Utilities Corp.?

You can visit the company's website at www.algonquinpowerandutilities.com for more information.

What is the role of Liberty in Algonquin Power & Utilities Corp.?

Liberty is a brand under which Algonquin Power & Utilities Corp. operates, managing over $16 billion in total assets and providing sustainable energy and water solutions.

Algonquin Power & Utilities Corp

NYSE:AQN

AQN Rankings

AQN Stock Data

3.89B
766.99M
0.06%
61.81%
1.24%
Utilities - Renewable
Utilities
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United States of America
Oakville