CA - Innergex Renewable Energy Inc. (INGXF) Q4 2023 Earnings Call Transcript
2024-02-22 13:35:10 ET
Innergex Renewable Energy Inc. (INGXF)
Q4 2023 Earnings Conference Call
February 22, 2024, 09:00 AM ET
Company Participants
Naji Baydoun - Director, IR
Michel Letellier - President and CEO
Jean Trudel - CFO
Conference Call Participants
David Quezada - Raymond James
Sean Steuart - TD Cowen
Nick Boychuk - Cormark Securities
Rupert Merer - National Bank Financial
Mark Jarvi - CIBC
Nelson Ng - RBC Capital Markets
Ben Pham - BMO
Presentation
Operator
Good morning, ladies and gentlemen. Thank you for standing by. Welcome to Innergex Renewable Energy's 2023 Fourth Quarter and Year End Results Conference Call and Webcast. [Foreign Language] At this time, all participants are on the phone and Internet are in listen-only mode. Following the presentation, we will conduct a question-and-answer session for analysts and institutional investors and instructions will be provided at that time for you to queue up for questions. [Operator Instructions] I would like to remind everyone that this conference call is being recorded.
I will now turn the conference over to Naji Baydoun, Director, Investor Relations. Please go ahead.
Naji Baydoun
Hello everyone and thank you for joining us today. I'd like to specify that this conference will be held in English. Members of the media are invited to ask their questions by phone after this call. A presentation supporting today's discussion is available as we speak on the homepage of our website at www.innergex.com.
This call contains forward-looking statements within the meaning of applicable securities laws. Although the corporation believes that the expectations and assumptions on which forward-looking statements are based on reasonable assumptions under the current circumstances, listeners are cautioned not to rely unduly on these forward-looking statements, as no assurance can be given that it will prove to be correct.
Forward-looking information contained herein is made as at the date of this call, and the corporation does not undertake any obligation to update or revise any forward-looking information, whether as a result of events or circumstances occurring after the date hereof unless so required by law. During this call, we will refer to financial measures that are not recognized according to International Financial Reporting Standards. Please refer to the non-IFRS measures section of the MD&A for more information.
On today's call, we will discuss our updated capital allocation strategy, which we announced via a separate press release yesterday evening, our Q4 and fiscal year 2023 results, and our 2024 guidance. Our speakers will be Michel Letellier, President and Chief Executive Officer; and Jean Trudel, Chief Financial Officer.
I will now turn the conference over to Michel Letellier.
Michel Letellier
Thank you, Naji, and good morning. Thank you for joining us.
As Naji mentioned, yesterday evening, in addition to our earnings release, we announced an updated capital allocation strategy. After much consideration and comprehensive analysis, we have made the decision to focus our capital allocation strategy to support our growth. Specifically, we are establishing a target dividend payout ratio between 30% and 50%. Jean will provide detail in his section....
Innergex Renewable Energy Inc. (INGXF) Q4 2023 Earnings Call Transcript