Unitil Corporation has increased its quarterly dividend to $0.45 per share, raising the annualized dividend to $1.80.
Quiver AI Summary
Unitil Corporation announced a quarterly dividend increase to $0.45 per share, up by $0.025, raising the annualized dividend to $1.80 per share. The first quarter dividend is set to be paid on February 28, 2025, to shareholders recorded by February 13, 2025. Unitil is a public utility company serving electricity and natural gas customers in New England, focusing on safe and reliable energy delivery and community commitment. The company serves approximately 109,400 electric customers and 89,100 natural gas customers across Maine, New Hampshire, and Massachusetts.
Potential Positives
- The Board of Directors increased the quarterly dividend to $0.45 per share, reflecting a commitment to returning value to shareholders.
- The annualized dividend was raised by $0.10, indicating strong financial performance and confidence in future earnings.
- The declared dividend for the first quarter is set to be paid on February 28, 2025, providing shareholders with immediate returns.
Potential Negatives
- While the increase in dividends can be seen as a positive measure, it may raise concerns among investors about the company's cash flow and ability to sustain such payouts, especially if profits do not significantly increase.
- The announcement does not provide any information on the company’s financial performance or future outlook, leaving investors without crucial context that might impact their investment decisions.
- The lack of discussion on operational challenges or market conditions facing the company may indicate a lack of transparency, which can negatively affect investor confidence.
FAQ
What is the new quarterly dividend announced by Unitil Corporation?
Unitil Corporation announced a quarterly dividend of $0.45 per share, an increase of $0.025 per share.
When will the first quarter dividend be paid?
The first quarter common stock dividend will be payable on February 28, 2025.
What is the annualized dividend after the increase?
The annualized dividend now stands at $1.80 per share following the recent increase.
Who can receive the declared dividend?
Shareholders of record on February 13, 2025, are eligible to receive the declared dividend.
What services does Unitil Corporation provide?
Unitil Corporation provides electricity and natural gas services in New England, serving approximately 109,400 electric and 89,100 natural gas customers.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$UTL Hedge Fund Activity
We have seen 82 institutional investors add shares of $UTL stock to their portfolio, and 90 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- PROSHARE ADVISORS LLC added 240,776 shares (+3249.3%) to their portfolio in Q3 2024, for an estimated $14,586,210
- HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC added 96,180 shares (+inf%) to their portfolio in Q3 2024, for an estimated $5,826,584
- ASSENAGON ASSET MANAGEMENT S.A. removed 75,992 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $4,118,006
- DEPRINCE RACE & ZOLLO INC removed 45,504 shares (-56.2%) from their portfolio in Q3 2024, for an estimated $2,756,632
- STATE STREET CORP added 41,511 shares (+6.1%) to their portfolio in Q3 2024, for an estimated $2,514,736
- AURORA INVESTMENT COUNSEL removed 37,575 shares (-84.0%) from their portfolio in Q3 2024, for an estimated $2,276,293
- ROYAL BANK OF CANADA added 31,254 shares (+23.0%) to their portfolio in Q3 2024, for an estimated $1,893,367
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
HAMPTON, N.H., Jan. 29, 2025 (GLOBE NEWSWIRE) -- Unitil Corporation (NYSE:UTL) ( unitil.com ) today announced that its Board of Directors raised the quarterly dividend on the Company’s common stock to $0.45 per share, an increase of $0.025 per share. Today’s action increased the Company’s annualized dividend by $0.10, to $1.80 per share. Also today, the Board declared the first quarter common stock dividend of $0.45 per share, payable February 28, 2025, to shareholders of record on February 13, 2025.
About Unitil Corporation
Unitil Corporation provides energy for life by safely and reliably delivering electricity and natural gas in New England. We are committed to the communities we serve and to developing people, business practices, and technologies that lead to the delivery of dependable, more efficient energy. Unitil Corporation is a public utility holding company with operations in Maine, New Hampshire and Massachusetts. Together, Unitil’s operating utilities serve approximately 109,400 electric customers and 89,100 natural gas customers. For more information about our people, technologies, and community involvement please visit
unitil.com
.
For more information please contact:
Christopher Goulding – Investor Relations
Phone: 603-773-6466
Email:
[email protected]
Alec O’Meara – External Affairs
Phone: 603-773-6404
Email:
[email protected]