Unitil Corp - UTL STOCK NEWS

Unitil Corporation (NYSE: UTL) reported a first-quarter 2021 net income of $18.9 million, equating to $1.26 in earnings per share, an increase of $3.7 million from Q1 2020. The rise in earnings is attributed to higher gas and electric adjusted gross margins, totaling $39.6 million and $17.2 million, respectively. Gas adjusted gross margin increased by $5.4 million, driven by rates and colder weather. Electric adjusted gross margin rose $0.6 million owing to customer growth. The company declared quarterly dividends of $0.38 per share, maintaining a consistent dividend history.

Unitil Corporation (NYSE:UTL) held its Annual Meeting of Shareholders on April 28, 2021, where shareholders elected three new Board members: Suzanne Foster, Thomas P. Meissner, Jr., and Justine Vogel, each for a three-year term. The meeting also ratified Deloitte & Touche, LLP as the independent public accountants for 2021, and 94.4% of shareholders approved the executive compensation advisory vote. CEO Thomas P. Meissner presented highlights from 2020 and discussed the utility industry's transition towards a low-carbon future. For details, visit www.unitil.com.

Unitil Corporation (NYSE:UTL) has declared a quarterly dividend of $0.38 per share, payable on May 28, 2021, to shareholders of record by May 14, 2021. This announcement results in an annualized dividend rate of $1.52 per share. Unitil operates in New England, providing energy to approximately 107,100 electric customers and 85,600 natural gas customers across Maine, New Hampshire, and Massachusetts.

Unitil Corporation (NYSE: UTL) has announced the release of its first quarter 2021 earnings on May 4, 2021, prior to market opening. Subsequently, a conference call will be held at 2:00 p.m. (ET) the same day to discuss the quarterly results. The call will be accessible via the Company’s Investors page, where related materials will also be available. Unitil, which operates in New England, serves approximately 107,100 electric and 85,600 natural gas customers, focusing on safe and reliable energy delivery.

Unitil Corporation (NYSE: UTL) announced a base rate case filing with the New Hampshire Public Utilities Commission for its electric distribution utility, Unitil Energy Systems, Inc. The proposal seeks a $11.99 million increase (4.4%) in base rates, potentially raising residential bills by $9.87 per month (8.2%) for an average usage of 600 kWh. The filing includes initiatives for modernizing the electric grid, EV infrastructure, and customer support programs. The review process may last up to a year, following the last rate case filed in 2016.

Unitil Corporation (NYSE:UTL) announced the retirement of Senior Vice President Laurence M. Brock, effective July 1, 2021, after 40 years in the industry. Mr. Brock emphasized his gratitude for Unitil’s dedicated employees during his 26-year tenure. He played crucial roles, including Chief Financial Officer and Treasurer. Unitil, which delivers natural gas and electricity in New England, serves approximately 107,100 electric customers and 85,600 natural gas customers. The company is committed to efficient energy delivery and community involvement.

Unitil Corporation (NYSE: UTL) announced a quarterly dividend increase to $0.38 per share, raising the annualized dividend rate to $1.52. The first quarter dividend is payable on February 26, 2021, to shareholders of record as of February 12, 2021. This marks an unbroken record of quarterly dividend payments since the company's inception and reflects confidence in future growth, according to CEO Thomas P. Meissner, Jr.

Unitil Corporation (NYSE: UTL) has announced the release date for its fourth quarter 2020 earnings, set for February 2, 2021, before market opening. Following this, a conference call will be held at 2:00 p.m. (ET) to discuss the results. Interested parties can access the call via a toll-free number and the event will be available for replay afterwards. Unitil operates in New England, serving approximately 107,100 electric and 85,600 natural gas customers, focusing on reliable energy delivery and community involvement.

Unitil Corporation (NYSE: UTL) reported a Net Income of $0.3 million, or $0.02 EPS, for Q3 2020, down $2.0 million from Q3 2019 due to lower sales margins and increased operating costs. For the nine months ending September 30, 2020, Net Income reached $18.6 million, a decline of $14.2 million year-over-year. Factors impacting earnings included warmer winter weather and the economic slowdown from the COVID-19 pandemic. Total gas and electric gross margins decreased, while sales to residential customers rose due to pandemic-related stay-at-home orders, reflecting customer growth.