Otter Tail Co. (OTTR) to Issue Quarterly Dividend of $0.53 on March 10th

Otter Tail Co. (NASDAQ:OTTR) announced a quarterly dividend on Tuesday, February 4th,Wall Street Journal reports. Investors of record on Friday, February 14th will be paid a dividend of 0.525 per share by the utilities provider on Monday, March 10th. This represents a $2.10 annualized dividend and a dividend yield of 2.63%. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Otter Tail’s previous quarterly dividend of $0.47.

Otter Tail has raised its dividend payment by an average of 6.2% annually over the last three years and has raised its dividend every year for the last 12 years. Otter Tail has a payout ratio of 41.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Otter Tail to earn $4.31 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 48.7%.

Otter Tail Stock Up 0.8 %

OTTR stock opened at $79.92 on Wednesday. The stock’s 50 day simple moving average is $76.60 and its 200 day simple moving average is $80.25. Otter Tail has a fifty-two week low of $71.66 and a fifty-two week high of $100.84. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.66 and a current ratio of 2.17. The company has a market cap of $3.34 billion, a P/E ratio of 11.04 and a beta of 0.57.

Analysts Set New Price Targets

A number of brokerages recently commented on OTTR. StockNews.com raised Otter Tail from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Siebert Williams Shank raised Otter Tail from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 6th.

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.