Atlantic Power (AT) announced Thursday that it will keep its monthly August dividend distribution level with the previous month, returning Canadian $0.0333 ($0.032) per share back to its investors.
The Canada-based utility has operations in the U.S. and Canada, and recently announced another quarter of better-than-expected earnings. The utility's shares have fallen significantly since its March announcement that it would cut its dividend by 66% to "establish a lower and more sustainable Payout Ratio that balances yield and growth."
AT Dividend data by YCharts.
The monthly dividend will be payable on Sept. 30 to Atlantic shareholders of record on Aug. 30, with non-Canadians subject to a 15% to 25% withholding tax rate. At current share prices, Atlantic Power's distribution offers investors a 9.6% annual yield.
