Otter Tail Corporation (OTTR) to Issue Quarterly Dividend of $0.53 on December 10th

Otter Tail Corporation (NASDAQ:OTTR) announced a quarterly dividend on Monday, November 3rd. Investors of record on Friday, November 14th will be given a dividend of 0.525 per share by the utilities provider on Wednesday, December 10th. This represents a c) annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Friday, November 14th.

Otter Tail has increased its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 12 consecutive years. Otter Tail has a dividend payout ratio of 38.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Otter Tail to earn $3.56 per share next year, which means the company should continue to be able to cover its $2.10 annual dividend with an expected future payout ratio of 59.0%.

Otter Tail Price Performance

OTTR stock traded down $0.26 during mid-day trading on Wednesday, hitting $85.50. The stock had a trading volume of 24,338 shares, compared to its average volume of 225,225. The firm has a fifty day simple moving average of $80.72 and a 200 day simple moving average of $79.61. Otter Tail has a 52 week low of $71.66 and a 52 week high of $86.22. The company has a current ratio of 3.31, a quick ratio of 2.57 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $3.58 billion, a P/E ratio of 12.57 and a beta of 0.56.

Otter Tail (NASDAQ:OTTR) last posted its quarterly earnings results on Monday, November 3rd. The utilities provider reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.80 by $0.06. The company had revenue of $325.56 million during the quarter, compared to analysts’ expectations of $337.40 million. Otter Tail had a return on equity of 16.85% and a net margin of 21.82%.Otter Tail’s revenue was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.03 EPS. Otter Tail has set its FY 2025 guidance at 6.320-6.620 EPS. As a group, research analysts forecast that Otter Tail will post 5.88 EPS for the current year.

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.