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

Otter Tail Co. (NASDAQ:OTTR) declared a quarterly dividend on Monday, November 4th, Zacks reports. Investors of record on Friday, November 15th will be given a dividend of 0.468 per share by the utilities provider on Tuesday, December 10th. This represents a $1.87 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date is Friday, November 15th.

Otter Tail has raised its dividend 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 37.9% indicating that its dividend is sufficiently covered by earnings. 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 Stock Performance

NASDAQ:OTTR traded up $4.33 during mid-day trading on Wednesday, hitting $85.88. 214,871 shares of the company traded hands, compared to its average volume of 230,941. The company has a quick ratio of 1.67, a current ratio of 2.27 and a debt-to-equity ratio of 0.60. The stock’s fifty day moving average price is $78.73 and its 200-day moving average price is $85.69. The firm has a market cap 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.

Otter Tail (NASDAQ:OTTR) last announced its quarterly earnings data on Monday, November 4th. The utilities provider reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.97 by $0.06. Otter Tail had a return on equity of 21.06% and a net margin of 22.84%. The company had revenue of $338.03 million during the quarter, compared to the consensus estimate of $362.20 million. During the same period in the previous year, the company posted $2.19 EPS. Research analysts anticipate that Otter Tail will post 7.01 earnings per share for the current fiscal year.

Insider Activity

In other Otter Tail news, VP Jennifer O. Smestad sold 4,000 shares of the stock in a transaction on Tuesday, August 13th. The stock was 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 in the company, valued at approximately $1,091,502. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.30% of the company’s stock.

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.