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

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 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend is Friday, November 15th.

Otter Tail has raised its dividend by an average of 5.7% annually 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% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Trading Up 5.3 %

NASDAQ:OTTR traded up $4.33 during midday trading on Wednesday, hitting $85.88. The stock had a trading volume of 214,871 shares, compared to its average volume of 230,941. The stock has a 50-day moving average of $78.73 and a 200 day moving average of $85.69. The company has a market capitalization of $3.59 billion, a price-to-earnings ratio of 11.02 and a beta of 0.52. Otter Tail has a one year low of $73.43 and a one year high of $100.84. The company has a quick ratio of 1.67, a current ratio of 2.27 and a debt-to-equity ratio of 0.60.

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

Insider Buying and Selling at Otter Tail

In other news, VP Jennifer O. Smestad sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $88.74, for a total value of $354,960.00. Following the completion of the sale, the vice president now owns 12,300 shares of the company’s stock, valued at approximately $1,091,502. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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.