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

Otter Tail Co. (NASDAQ:OTTR - Get Free Report) declared a quarterly dividend on Monday, November 4th, Zacks reports. Investors 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 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend is Friday, November 15th.

Otter Tail has raised its dividend payment by an average of 5.7% per year over the last three years and has increased its dividend annually for the last 11 consecutive years. Otter Tail has a payout ratio of 37.9% indicating that its dividend is sufficiently covered by earnings. 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 Stock Performance

NASDAQ OTTR traded up $3.97 during midday trading on Wednesday, hitting $85.52. The company had a trading volume of 658,589 shares, compared to its average volume of 233,019. The firm has a fifty day simple moving average of $78.73 and a two-hundred day simple moving average of $85.69. Otter Tail has a fifty-two week low of $73.43 and a fifty-two week 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. The stock has a market cap of $3.58 billion, a price-to-earnings ratio of 11.81 and a beta of 0.52.

Otter Tail (NASDAQ:OTTR - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The utilities provider reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.97 by $0.06. Otter Tail had a return on equity of 20.28% and a net margin of 22.70%. The firm had revenue of $338.03 million for the quarter, compared to analyst estimates of $362.20 million. During the same period in the previous year, the company posted $2.19 earnings per share. Equities analysts forecast that Otter Tail will post 7.01 earnings per share for the current fiscal year.

Insider Buying and Selling at Otter Tail

In other Otter Tail news, VP Jennifer O. Smestad sold 4,000 shares of the firm's stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $88.74, for a total transaction of $354,960.00. Following the transaction, the vice president now owns 12,300 shares in the company, valued at approximately $1,091,502. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate 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.