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

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 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Thursday, August 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 40.0% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Price Performance

Shares of NASDAQ OTTR traded up $1.42 during trading on Wednesday, hitting $91.65. 12,387 shares of the company were exchanged, compared to its average volume of 225,872. Otter Tail has a 1 year low of $68.96 and a 1 year high of $100.84. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.92 and a quick ratio of 2.21. The firm’s fifty day moving average price is $89.73 and its 200 day moving average price is $88.34. The company has a market cap of $3.83 billion, a price-to-earnings ratio of 12.39 and a beta of 0.55.

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

Insider Activity at Otter Tail

In related news, VP Paul L. Knutson sold 4,000 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $90.66, for a total value of $362,640.00. Following the completion of the transaction, 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 at the SEC website. 2.30% of the stock is currently owned by corporate insiders.

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.