Otter Tail Co. (NASDAQ:OTTR) Plans Quarterly Dividend of $0.53

Otter Tail Co. (NASDAQ:OTTR) announced a quarterly dividend on Tuesday, February 4th,Wall Street Journal reports. Shareholders 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 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from Otter Tail’s previous quarterly dividend of $0.47.

Otter Tail has increased its dividend by an average of 6.2% annually over the last three years and has raised its dividend annually for the last 12 consecutive years. Otter Tail has a payout ratio of 41.5% indicating that its dividend is sufficiently covered by earnings. 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 Trading Up 0.8 %

NASDAQ:OTTR opened at $79.92 on Wednesday. Otter Tail has a one year low of $71.66 and a one year high of $100.84. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.17 and a quick ratio of 1.66. The business has a fifty day moving average price of $76.60 and a 200-day moving average price of $80.25. The firm has a market capitalization of $3.34 billion, a price-to-earnings ratio of 11.04 and a beta of 0.57.

Analyst Upgrades and Downgrades

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

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.