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AQNB - Algonquin: Income Stability And Growth In A Single Stock
Algonquin Power & Utilities Corp. 6.20% Fixed-to-Floating Subordinated Notes Series 2019-A due July 1 2079
Algonquin is currently advancing a $9.2B capital program on renewables and regulated utility projects that is anticipated to support 15% CAGR in EBITDA from 2019 to 2024.
The company’s stable cash flow is underpinned by regulated or contracted revenue through long-term power purchase agreements with creditworthy counterparties.
Algonquin’s combination of growth and stability has enabled the company to reward shareholders with a nearly decade-long record of annual dividend increases averaging 10%.
At current levels, Algonquin is fully valued. Investors can wait for a pullback to add new money.