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Otter Tail (Nasdaq: OTTR) reported a 19% increase in diluted earnings per share to $1.77 and raised its 2024 earnings guidance by 21% to $6.38 per share. The company's Return on Equity over the past twelve months was 22%. Plastics segment earnings surged by 39%, while Electric segment earnings dipped due to weather-related challenges. Manufacturing segment earnings decreased by 23%. The declared a quarterly dividend of $0.4675 per share. Cash flows improved, with $71.9 million provided by operating activities. Available liquidity stood at $569.1 million. The company plans to increase its 2024 diluted earnings per share guidance to a range of $6.23 to $6.53, predominantly driven by strong Plastics segment performance.
Otter Tail (OTTR) declared a quarterly common stock dividend of $0.4675 per share, payable on June 10, 2024, to shareholders of record May 15, 2024. The will release its first quarter 2024 financial results on May 6, 2024, and hold an earnings call on May 7, 2024.