Unitil Co. (UTL) to Issue Quarterly Dividend of $0.37 on November 29th

Unitil Co. (NYSE:UTL) announced a quarterly dividend on Thursday, October 25th, Wall Street Journal reports. Investors of record on Thursday, November 15th will be paid a dividend of 0.365 per share by the utilities provider on Thursday, November 29th. This represents a $1.46 annualized dividend and a dividend yield of 2.93%. The ex-dividend date is Wednesday, November 14th.

Unitil has increased its dividend by an average of 1.4% annually over the last three years and has increased its dividend every year for the last 3 years. Unitil has a dividend payout ratio of 65.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Unitil to earn $2.26 per share next year, which means the company should continue to be able to cover its $1.46 annual dividend with an expected future payout ratio of 64.6%.

Unitil stock opened at $49.81 on Friday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.63 and a current ratio of 0.67. The firm has a market cap of $720.89 million, a price-to-earnings ratio of 21.26, a price-to-earnings-growth ratio of 5.94 and a beta of 0.04. Unitil has a one year low of $40.92 and a one year high of $53.07.

Unitil (NYSE:UTL) last posted its earnings results on Thursday, October 25th. The utilities provider reported $0.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.12. The firm had revenue of $88.20 million for the quarter, compared to the consensus estimate of $86.90 million. Unitil had a net margin of 7.65% and a return on equity of 9.65%. On average, sell-side analysts predict that Unitil will post 2.21 EPS for the current fiscal year.

UTL has been the topic of several research analyst reports. Zacks Investment Research raised Unitil from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a research report on Tuesday, July 24th. Bank of America raised their price target on Unitil from $47.00 to $49.00 and gave the company an “underperform” rating in a research report on Wednesday, August 1st.

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Unitil Company Profile

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.

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Dividend History for Unitil (NYSE:UTL)

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