Unitil Co. (UTL) Plans Quarterly Dividend of $0.37

Unitil Co. (NYSE:UTL) declared a quarterly dividend on Thursday, April 25th, Wall Street Journal reports. Investors of record on Wednesday, May 15th will be paid a dividend of 0.37 per share by the utilities provider on Wednesday, May 29th. This represents a $1.48 annualized dividend and a dividend yield of 2.60%. The ex-dividend date is Tuesday, May 14th.

Unitil has raised its dividend by an average of 1.4% per year over the last three years and has raised its dividend annually for the last 4 consecutive years. Unitil has a payout ratio of 66.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Unitil to earn $2.44 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 60.7%.

Shares of UTL opened at $56.92 on Monday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.81 and a quick ratio of 0.76. Unitil has a 52-week low of $45.43 and a 52-week high of $59.19. The company has a market capitalization of $835.91 million, a P/E ratio of 25.52, a price-to-earnings-growth ratio of 6.14 and a beta of 0.10.

Unitil (NYSE:UTL) last issued its quarterly earnings data on Thursday, April 25th. The utilities provider reported $1.12 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.35 by ($0.23). Unitil had a net margin of 9.75% and a return on equity of 9.63%. The business had revenue of $152.10 million during the quarter, compared to analyst estimates of $147.60 million. Equities analysts forecast that Unitil will post 2.3 EPS for the current year.

Several equities analysts recently issued reports on UTL shares. Bank of America reiterated an “underperform” rating and issued a $51.00 price objective (up from $48.00) on shares of Unitil in a research report on Friday, February 1st. Zacks Investment Research lowered Unitil from a “buy” rating to a “hold” rating in a research report on Saturday, February 2nd.

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About Unitil

Unitil Corporation, a public utility holding company, engages in the distribution of electricity and natural gas in the United States. It operates through three segments: Utility Gas Operations, Utility Electric Operations, and Non-Regulated. The company distributes electricity in the southeastern seacoast and state capital regions of New Hampshire, and the greater Fitchburg area of north central Massachusetts; and distributes natural gas in southeastern New Hampshire, portions of southern Maine to the Lewiston-Auburn area, and in the greater Fitchburg area of north central Massachusetts.

Further Reading: Gross Domestic Product (GDP)

Dividend History for Unitil (NYSE:UTL)

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