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 declared a fourth-quarter common share dividend of US$0.1808, payable on January 13, 2023, to shareholders of record by December 30, 2022. Shareholders can opt to receive the dividend in Canadian dollars at C$0.2438. Additionally, preferred share dividends include C$0.32263 for Series A and C$0.31819 for Series D, both payable on January 3, 2023. The dividends qualify as eligible dividends under Canadian tax law.
Algonquin Power & Utilities Corp. (AQN) has announced the release of its third quarter 2022 financial results on November 11, 2022, before market open. A conference call will take place at 8:00 a.m. ET on the same day, featuring CEO Arun Banskota and CFO Darren Myers. The company maintains a diversified portfolio of over $17 billion in total assets, focusing on renewable energy and utility services across the U.S. and Canada, with more than 4 GW of installed renewable energy capacity.
Algonquin Power & Utilities Corp. (AQN) announced a significant asset recycling initiative, selling a 49% stake in three U.S. wind projects (totaling 551 MW) and 80% in a Canadian facility (175 MW) to InfraRed Capital Partners. The total cash proceeds are expected to be around US$277 million and C$107 million. AQN will maintain operational oversight and management services. This transaction, anticipated to close in Q4 2022, is part of a broader $12.4 billion capital plan extending to 2026, aimed at enhancing shareholder value through renewable energy projects.
American Electric Power (AEP) has signed an amended agreement for the sale of its Kentucky operations to Liberty, with a closing expected in January 2023, pending Federal Energy Regulatory Commission (FERC) approval by December 16. Liberty will acquire Kentucky Power and AEP Kentucky Transco for $2.646 billion, with AEP receiving about $1.2 billion in cash after taxes and fees. AEP anticipates a pre-tax GAAP loss of $180 million to $220 million in Q3 2022 due to this amendment. The deal is expected to enhance customer benefits in Eastern Kentucky and support AEP's future investments.
On September 29, 2022, Liberty Utilities, a subsidiary of Algonquin Power & Utilities Corp. (AQN), amended its stock purchase agreement to acquire Kentucky Power Company and AEP Kentucky Transmission Company for a revised price of $2.646 billion, including $1.221 billion in debt. The acquisition aims to enhance AQN's regulated services in the U.S. and is pending approval from the U.S. Federal Energy Regulatory Commission, expected to close in January 2023. This transaction aligns with AQN's growth strategy and commitment to customer service in Kentucky.
Algonquin Power & Utilities Corp. (AQN) appointed Darren Myers as Chief Financial Officer, succeeding Arthur Kacprzak, who steps down immediately but will assist in the transition until year-end. Myers brings extensive experience, having served as CFO at Loblaw and Celestica. CEO Arun Banskota expressed confidence in Myers’ ability to deliver strong financial results, while Chairman Ken Moore emphasized the importance of this leadership change for shareholder returns. AQN remains focused on growth in renewable energy and maintaining a solid balance sheet.
Algonquin Power & Utilities Corp. (AQN) has successfully acquired Sandhill Advanced Biofuels, a developer of renewable natural gas (RNG) projects in Wisconsin. This acquisition marks AQN's entry into the non-regulated RNG market, with four projects that will generate approximately 500 MMBTU/day of RNG. The projects aim to sequester methane from dairy operations, supporting carbon reduction goals. Additionally, AQN joined a hydrogen consortium in New York as part of its clean energy initiatives. This strategic move aligns with AQN's commitment to sustainability and net-zero emissions by 2050.
Algonquin Power & Utilities Corp. (AQN) announced the re-establishment of its at-the-market equity program, allowing the issuance of up to $500 million in common shares. This program provides AQN with enhanced financial flexibility, effective until December 19, 2023. The proceeds will be utilized for acquisitions, working capital, and other corporate purposes. Sales will occur at prevailing market prices through designated agents. The ATM Program follows the lapse of its previous program and supports AQN’s continued growth and operational excellence in the renewable energy sector.
Algonquin Power & Utilities Corp. (AQN) reported strong Q2 2022 results with revenue of $624.3 million, an 18% increase year-over-year. Adjusted EBITDA rose to $289.3 million, also reflecting an 18% growth. Adjusted net earnings increased by 19.6% to $109.7 million, translating to $0.16 per share, a 7% rise compared to Q2 2021. Despite the positive financial results, the company recorded a net loss attributable to shareholders of $33.4 million, representing a 132% decline from last year. Significant updates included the ongoing Kentucky Power acquisition and successful projects in renewable energy.
Algonquin Power & Utilities Corp. (AQN) has declared a US$0.1808 common share dividend, payable on October 14, 2022, to shareholders of record on September 29, 2022, covering the period from July 1 to September 30, 2022. Shareholders may opt for Canadian dollar dividends at C$0.2312. Additionally, preferred share dividends of C$0.32263 for Series A and C$0.31819 for Series D will be payable on October 3, 2022. These dividends qualify as eligible dividends under Canadian tax law.