Algonquin Power Stock Price, News & Analysis

Algonquin Power & Utilities (TSX: AQN, NYSE: AQN) has announced its first quarter 2025 dividend declarations. The company will pay a common share dividend of US$0.0650 (C$0.0934) per share on April 15, 2025, to shareholders of record on March 31, 2025.

Additionally, AQN declared preferred share dividends: C$0.41100 per Series A share and C$0.42831 per Series D share, both payable on March 31, 2025, to holders of record on March 14, 2025. The company notes that its dividend reinvestment plan (DRIP) remains suspended since March 16, 2023.

Algonquin Power & Utilities (TSX/NYSE: AQN) released its Q4 and full-year 2024 financial results, marking significant progress in its transition to a pure-play utility. The company reported Q4 Net Utility Sales of $426.0M (+8%) and Annual Net Utility Sales of $1,687.9M (+4%).

Key financial metrics showed mixed results with Q4 Adjusted EBITDA at $248.6M (-5%) and Annual Adjusted EBITDA at $1,039.3M (+3%). The Regulated Services Group saw positive growth due to new rates implementation, though partially offset by higher operating expenses including $18.0M in non-recurring costs for the year.

Notable corporate actions include the sale of its 42.2% stake in Atlantica for approximately $1.1B and the completion of its renewable energy business sale to LS Power for $2.1B in January 2025. The company announced leadership changes with Rod West succeeding Chris Huskilson as CEO effective March 7, 2025.

Algonquin Power & Utilities Corp. (TSX/NYSE: AQN) has announced the appointment of Brian Chin as Interim Chief Financial Officer, effective March 7, 2025. Chin, who currently serves as Vice President of Investor Relations, will take over from current CFO Darren Myers, who is departing for another opportunity.

The company has engaged a national search firm to identify a permanent CFO. Chin, who joined Algonquin in 2021, brings over two decades of utilities experience, including senior executive positions at Algonquin and American Water Works in Investor Relations, Treasury, and Strategic Financial Planning. He previously worked as a lead utility equity analyst at Bank of America Merrill Lynch and Citigroup, and in Audit at KPMG.

Algonquin Power & Utilities (TSX/NYSE: AQN) has announced that Rod West will become CEO effective March 7, 2025, succeeding Chris Huskilson, who will remain on the Board. West joins from Entergy, where he served as Group President of Utility Operations for 25 years, overseeing electric and gas distribution, customer service, regulatory engagement, and commercial development.

The appointment aligns with AQN's strategic transformation into a pure-play regulated utility. Under Huskilson's leadership, the company has made progress in its strategic plan, including selling its interest in Atlantica, divesting its renewable energy business (excluding hydro), and initiating cost structure and operational efficiency improvements.

West's appointment is viewed as strategic given his extensive utility industry experience, including leading Entergy New Orleans' reconstruction after Hurricane Katrina.

Algonquin Power & Utilities Corp. (TSX/NYSE: AQN) has scheduled the release of its fourth quarter and full year 2024 financial results for Friday, March 7, 2025, before market open. The company will host an earnings conference call at 8:30 a.m. ET on the same day, featuring Chief Executive Officer Chris Huskilson and Chief Financial Officer Darren Myers.

The conference call will be accessible via toll-free number 1-800-715-9871 or toll number 1-647-932-3411 with Conference ID 4528692. A webcast of the presentation will also be available on the company's website.

Algonquin Power & Utilities Corp. (AQN) announced the upcoming departure of Chief Financial Officer Darren Myers, who will remain in his position through the reporting of the company's fourth quarter 2024 results. Myers, who joined in August 2022, has decided to pursue another leadership opportunity.

CEO Chris Huskilson acknowledged Myers' significant role in steering the company through its strategic review and the sale of its renewables business, transforming AQN from a hybrid business to a pure-play regulated utility. The company will immediately begin searching for Myers' replacement, with the current CFO committed to ensuring a smooth transition.

Algonquin Power & Utilities Corp. (AQN) has completed the sale of its non-regulated renewable energy business to LS Power, marking a significant step in its strategic transition to become a pure-play regulated utility. The transaction, combined with the recent sale of its 42.2% stake in Atlantica Sustainable Infrastructure on December 12, 2024, represents a pivotal milestone in reducing the company's complexity.

The company plans to utilize the net proceeds from the transaction to reduce existing debt and strengthen its balance sheet. The deal excludes AQN's hydro fleet. J.P. Morgan acted as the exclusive financial advisor, while Gibson, Dunn & Crutcher LLP and Blake, Cassels & Graydon LLP served as legal advisors for the transaction.

Algonquin Power & Utilities Corp. (AQN) has successfully completed the sale of its 42.2% equity stake in Atlantica Sustainable Infrastructure plc. CEO Chris Huskilson emphasized this transaction as a key achievement in optimizing the company's investment in Atlantica and advancing AQN's strategic transition to become a pure-play regulated utility company. The company plans to use the proceeds to reduce debt and recapitalize its balance sheet. J.P. Morgan Securities served as the financial advisor, with Weil, Gotshal & Manges LLP acting as legal advisor for the transaction.

Algonquin Power & Utilities (AQN) has announced its Q4 2024 dividend distributions. The company will pay US$0.0650 (C$0.0901) per common share on January 15, 2025, to shareholders of record on December 31, 2024. For preferred shares, Series A holders will receive C$0.41100 and Series D holders will receive C$0.42831, both payable on December 31, 2024. The company notes that its dividend reinvestment plan (DRIP) remains suspended since March 16, 2023. All dividends qualify as eligible dividends under Canadian tax legislation.