Otter Tail Co. (OTTR) to Issue Quarterly Dividend of $0.47 on December 10th

Otter Tail Co. (NASDAQ:OTTR) announced a quarterly dividend on Monday, November 4th, Zacks reports. Shareholders of record on Friday, November 15th will be paid a dividend of 0.468 per share by the utilities provider on Tuesday, December 10th. This represents a $1.87 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date is Friday, November 15th.

Otter Tail has raised its dividend payment by an average of 5.7% per year over the last three years and has increased its dividend every year for the last 11 years. Otter Tail has a dividend payout ratio of 37.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Otter Tail to earn $4.33 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 43.2%.

Otter Tail Stock Up 5.2 %

Otter Tail stock traded up $4.20 during mid-day trading on Wednesday, hitting $85.75. The company had a trading volume of 227,415 shares, compared to its average volume of 230,963. Otter Tail has a 12 month low of $73.43 and a 12 month high of $100.84. The company has a market capitalization of $3.59 billion, a PE ratio of 11.02 and a beta of 0.52. The stock’s 50 day moving average price is $78.73 and its two-hundred day moving average price is $85.69. The company has a current ratio of 2.27, a quick ratio of 1.67 and a debt-to-equity ratio of 0.60.

Otter Tail (NASDAQ:OTTR) last announced its quarterly earnings results on Monday, November 4th. The utilities provider reported $2.03 earnings per share for the quarter, beating the consensus estimate of $1.97 by $0.06. Otter Tail had a net margin of 22.84% and a return on equity of 21.06%. The company had revenue of $338.03 million during the quarter, compared to the consensus estimate of $362.20 million. During the same quarter last year, the firm earned $2.19 earnings per share. As a group, sell-side analysts anticipate that Otter Tail will post 7.01 earnings per share for the current fiscal year.

Insider Transactions at Otter Tail

In other Otter Tail news, VP Jennifer O. Smestad sold 4,000 shares of Otter Tail stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $88.74, for a total transaction of $354,960.00. Following the transaction, the vice president now owns 12,300 shares of the company’s stock, valued at $1,091,502. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.30% of the company’s stock.

About Otter Tail

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.