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Unitil Corporation reports developments tied to its regulated electric and natural gas utility operations in New England. The company is a public utility holding company with operating utilities in Maine, New Hampshire and Massachusetts, with service activities organized around electric distribution, natural gas distribution and related gas transmission operations.
Recurring news includes quarterly and annual earnings, rate and customer-growth effects on electric and gas margins, common stock dividend declarations, shareholder meeting results, board elections and updates on strategic utility acquisitions. Company updates also address system reliability investment, regulatory revenue items, non-GAAP adjustments for transaction costs and integration of acquired gas and water utility businesses.
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Unitil Corporation (NYSE:UTL) announced the election of Anne L. Alonzo to its Board of Directors during the 2023 Annual Meeting of Shareholders. Alonzo, who will serve a two-year term, has an extensive background in sustainability and regulatory affairs, having previously been a C-Suite executive at Corteva Agriscience and a leader at the American Egg Board. Her expertise in environmental sustainability, public policy, and ESG (Environmental, Social, Governance) is expected to enhance the board's capabilities. Unitil operates in New England, servicing approximately 108,100 electric customers and 87,500 natural gas customers. The leadership change aims to strengthen the company's focus on delivering reliable energy while addressing sustainability challenges.
On April 26, 2023, Unitil Corporation (NYSE: UTL) conducted its Annual Meeting of Shareholders in Hampton, New Hampshire. Key outcomes included the re-election of four directors for three-year terms and one director for a two-year term. Shareholders ratified Deloitte & Touche, LLP as independent accountants for 2023, with 97% approval for the advisory vote on executive compensation, set to occur annually. Chairman Thomas P. Meissner, Jr. discussed 2022 highlights and the Clean Energy Transition strategy aimed at sustainable value. Unitil serves approximately 108,100 electric and 87,500 natural gas customers across New England.
Unitil Corporation (NYSE:UTL) has declared a **quarterly dividend** of **$0.405** per share on its common stock, set to be paid on **May 30, 2023**, to shareholders recorded by **May 16, 2023**. This dividend results in an **annualized rate** of **$1.62** per share, reinforcing the company's commitment to providing shareholder returns. Unitil Corporation operates in **New England**, delivering natural gas and electricity and serving approximately **108,100 electric** and **87,500 natural gas** customers. Their focus on community involvement and efficient energy delivery underlines their dedication to sustainable practices.
Unitil Corporation (NYSE: UTL) announced significant corporate organizational changes effective May 1, 2023. Thomas P. Meissner, Jr. will continue as Chairman and CEO, while Robert B. Hevert becomes President and Chief Administrative Officer. Daniel J. Hurstak will take over Hevert's previous roles as Senior VP, CFO, and Treasurer. Todd Diggins will assume Hurstak's former position as Chief Accounting Officer and Controller. These changes are part of a leadership development and succession plan aimed at ensuring long-term business continuity and adapting to the clean energy transition. The company serves approximately 108,100 electric and 87,500 natural gas customers across New England.
Unitil Corporation (NYSE: UTL) will release its first quarter 2023 earnings on May 2, 2023, before the market opens. A conference call will follow at 10:00 a.m. ET to discuss the quarterly results, with presentation materials available in advance on the Company’s Investors page. Unitil serves approximately 108,100 electric customers and 87,500 natural gas customers in New England, focusing on delivering reliable energy while being committed to community engagement and technological advancements.
For inquiries, Todd Diggins (Investor Relations) and Alec O’Meara (Media Relations) are available through the provided email and phone contacts.
Unitil Corporation (NYSE: UTL) is advancing its sustainability efforts by enhancing its fleet with hybrid electric vehicles and launching an idling reduction program. Following the introduction of its first hybrid bucket truck in 2022, the company now operates nine hybrid pickups in New Hampshire and plans to expand its fleet further by adding more hybrid and alternative fuel vehicles. The goal is a 50% reduction in carbon emissions by 2030 and net-zero emissions by 2050. An idle mitigation program has begun, expected to cut idling time by 92%, leading to significant emissions reductions. Unitil's initiatives reflect a strategic commitment to sustainable energy solutions.
Unitil Corporation (NYSE: UTL) reported a strong financial performance for the year ended December 31, 2022, with a net income of $41.4 million and $2.59 EPS, reflecting a rise of $5.3 million or $0.24 EPS from 2021. The company's Electric Gross Margin was $73.4 million, boosted by higher rates and customer growth, though electric sales decreased by 1.0%. Conversely, the Gas Gross Margin rose to $107.6 million, up $7.1 million, driven by higher rates and colder weather. The company also declared an increased quarterly dividend of $0.405 per share, raising its annual rate to $1.62.