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.
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.
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)
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