Otter Tail Co. (NASDAQ:OTTR) Declares $0.47 Quarterly Dividend

Otter Tail Co. (NASDAQ:OTTR) announced a quarterly dividend on Monday, August 5th, Zacks reports. Shareholders of record on Thursday, August 15th will be paid a dividend of 0.468 per share by the utilities provider on Tuesday, September 10th. This represents a $1.87 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Thursday, August 15th.

Otter Tail has increased its dividend payment by an average of 5.7% annually over the last three years and has increased its dividend annually for the last 11 consecutive years. Otter Tail has a payout ratio of 40.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Otter Tail to earn $4.18 per share next year, which means the company should continue to be able to cover its $1.87 annual dividend with an expected future payout ratio of 44.7%.

Otter Tail Stock Performance

OTTR traded up $2.04 during trading on Wednesday, reaching $92.27. The company’s stock had a trading volume of 16,486 shares, compared to its average volume of 225,922. Otter Tail has a 52-week low of $68.96 and a 52-week high of $100.84. The company’s fifty day moving average price is $89.73 and its 200-day moving average price is $88.34. The company has a market capitalization of $3.86 billion, a price-to-earnings ratio of 12.39 and a beta of 0.55. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.21 and a current ratio of 2.92.

Otter Tail (NASDAQ:OTTR) last announced its quarterly earnings data on Monday, August 5th. The utilities provider reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.69 by $0.38. Otter Tail had a return on equity of 21.58% and a net margin of 22.55%. The company had revenue of $342.34 million for the quarter, compared to analyst estimates of $367.71 million. During the same quarter in the previous year, the company earned $1.95 EPS. The firm’s revenue for the quarter was up 1.4% compared to the same quarter last year. On average, equities analysts forecast that Otter Tail will post 6.35 earnings per share for the current fiscal year.

Insider Transactions at Otter Tail

In other news, VP Paul L. Knutson sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $90.66, for a total transaction of $362,640.00. Following the sale, the vice president now owns 20,359 shares of the company’s stock, valued at approximately $1,845,746.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.30% of the company’s stock.

Otter Tail Company Profile

Otter Tail Corporation, together with its subsidiaries, engages in electric utility, manufacturing, and plastic pipe businesses in the United States. It operates through three segments: Electric, Manufacturing, and Plastics. The Electric segment produces, transmits, distributes, and sells electric energy in Minnesota, North Dakota, and South Dakota; and operates as a participant in the Midcontinent Independent System Operator markets.