Otter Tail Corporation (NASDAQ:OTTR) to Issue Quarterly Dividend of $0.53

Otter Tail Corporation (NASDAQ:OTTR) declared a quarterly dividend on Monday, November 3rd. Shareholders 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 2.7%. The ex-dividend date of this dividend is Friday, November 14th.

Otter Tail has increased its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 12 years. Otter Tail has a dividend payout ratio of 38.3% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Down 1.0%

OTTR stock opened at $76.47 on Tuesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 3.31 and a quick ratio of 2.57. The stock has a market capitalization of $3.20 billion, a price-to-earnings ratio of 11.38 and a beta of 0.54. The business’s fifty day moving average price is $80.75 and its two-hundred day moving average price is $79.38. Otter Tail has a fifty-two week low of $71.66 and a fifty-two week high of $88.36.

Otter Tail (NASDAQ:OTTR) last issued 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. Otter Tail had a return on equity of 16.85% and a net margin of 21.82%.The company had revenue of $325.56 million for the quarter, compared to analysts’ expectations of $337.40 million. During the same quarter last year, the business earned $2.03 earnings per share. Otter Tail’s revenue was down 3.7% on a year-over-year basis. Otter Tail has set its FY 2025 guidance at 6.320-6.620 EPS. On average, equities analysts anticipate that Otter Tail will post 5.88 earnings per share for the current year.

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.