Atlantic Power (NYSE:AT), the utilities company with operations both north and south of the Canadian border, is continuing its streak of monthly dividend payments. For the month of April, the firm will distribute C$0.03333 ($0.3287) per share of its common stock on May 31 to shareholders of record as of April 30. That matches the firm's previous disbursement, which was handed out in late March. Prior to that, Atlantic Power's monthly distribution was significantly higher, at C$0.0937 ($0.9240) per share.
The company pointed out in the press release announcing the latest disbursement that non-Canadian taxpayers are obligated to pay a withholding tax on the dividends.
The current payout annualizes to nearly C$0.40 ($0.39) per share. That yields 8.5% at Atlantic Power's most recent closing stock price of $4.58.
Fool contributor Eric Volkman has no position in Atlantic Power, and neither does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.