Canada's Algonquin Power & Utilities Corp. has struck a $2.4 billion cash deal to buy Empire District Electric Co.
The deal, which is expected to close in the first quarter of 2017, would expand the company's regulated utility footprint in the Midwest and shift its business mix to regulated utility operations.
The acquisition, company officials said, would boost Algonquin's per-share profit by 7% to 9% a year and its funds from operations by 12% to 14% for the first three years and support its target of increasing its annual dividend by 10%.
Under the terms of the deal, Empire's stockholders would get $34 a share, a 21% premium over Tuesday's closing price. If approved, Empire would become a subsidiary of Algonquin's Liberty Utilities but remain based in Joplin, Mo.
Empire's shares rose 15% to $32.37 in late trading, topping the company's record.
Empire serves about 218,000 customers in Missouri, Kansas, Oklahoma and Arkansas.
Ontario-based Algonquin said it would finance the deal largely through debt. The deal, Standard & Poor's Ratings Services said, would push its adjusted funds from operations-to-debt ratio below 14%, prompting the rating firm to change its outlook to negative and signaling a possible downgrade.
Also Tuesday, Canadian utility operator Fortis Inc. disclosed a $6.9 billion offer for U.S. electricity-transmission company ITC Holdings Corp.
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Dividends for OCTOBER 2015
$886.33 for the month
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I will be adding my ROTH IRA to the blog soon.
It will be listed in one of the right sided boxes.
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$886.33 for the month
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I will be adding my ROTH IRA to the blog soon.
It will be listed in one of the right sided boxes.
I will be adding my ROTH IRA to the blog soon.
It will be listed in one of the right sided boxes.
BOOM!!!!!
HME stock was bought out and I received
$752.30 in cash!!!!!
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Dividends for AUGUST 2015
$203.67 for the month
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Dividend-growth record streak may be about to end
Few market opportunities have offered 10 percent growth or more for the past three years. Not China. Not U.S. GDP. Not U.S. earnings growth, either. But U.S. stock dividends have been on a tear, posting three consecutive years of 10 percent growth or more.
That record dividend run, which reached $351 billion last year, is finally showing signs of exhaustion. S&P data projects that—barring a new, and unlikely, dividend surprise, like a Google or Berkshire Hathaway—U.S. dividends will fail to keep the streak alive this year. Currently, dividend growth is running behind the pace of the previous three years.
Dividends for May 2015
$202.50
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Buckeye Partners L.P. $80.14-
DIV $4.60 for the month
Buckeye Partners LP is a master limited partnership that provides mid-stream energy logistics services. The company owns and operates petroleum products common carrier pipeline networks providing refiners, wholesalers, marketers, airlines, railroads and other commercial end-users with dependable, all-weather transportation of refined petroleum products. The company operates its business through Pipelines and Terminals, Global Marine Terminals, Merchant Services, Development and Logistics and Intersegment. The Pipelines and Terminals segment owns and operates pipeline located primarily in the northeastern and upper midwestern portions of the United States. The Merchant Services segment is a wholesale distributor of refined petroleum products in the continental United States and in the Caribbean. The Development and Logistics segment provides turn-key operations and maintenance, asset development and construction services for third-party pipeline and energy assets across the U.S. This segment operates and maintains third-party pipelines under agreements with major oil and gas, petrochemical and chemical companies, which are located primarily in Texas and Louisiana. Buckeye Partners was founded in December 1986 and is headquartered in Houston, TX.
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