Atlantica Sustainable Infrastructure plc (NASDAQ:AY) Plans $0.22 Quarterly Dividend

Atlantica Sustainable Infrastructure plc (NASDAQ:AY) announced a quarterly dividend on Thursday, November 14th,Wall Street Journal reports. Investors of record on Friday, November 29th will be paid a dividend of 0.2225 per share by the utilities provider on Thursday, December 12th. This represents a $0.89 annualized dividend and a dividend yield of 4.02%. The ex-dividend date is Friday, November 29th.

Atlantica Sustainable Infrastructure has raised its dividend by an average of 2.4% per year over the last three years. Atlantica Sustainable Infrastructure has a dividend payout ratio of 109.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Atlantica Sustainable Infrastructure to earn $0.50 per share next year, which means the company may not be able to cover its $0.89 annual dividend with an expected future payout ratio of 178.0%.

Atlantica Sustainable Infrastructure Trading Up 0.1 %

Shares of AY opened at $22.16 on Thursday. The firm’s 50-day moving average is $22.03 and its two-hundred day moving average is $22.09. Atlantica Sustainable Infrastructure has a twelve month low of $16.82 and a twelve month high of $23.47. The company has a current ratio of 1.25, a quick ratio of 1.20 and a debt-to-equity ratio of 3.36. The firm has a market capitalization of $2.57 billion, a P/E ratio of 76.42, a PEG ratio of 2.15 and a beta of 1.03.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on Atlantica Sustainable Infrastructure in a research note on Friday, November 22nd. They issued a “sell” rating for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $22.20.

Atlantica Sustainable Infrastructure Company Profile

Atlantica Sustainable Infrastructure plc owns, manages, and invests in renewable energy, storage, natural gas and heat, electric transmission lines, and water assets in North America, South America, Europe, the Middle East, and Africa. The company was formerly known as Atlantica Yield plc and changed its name to Atlantica Sustainable Infrastructure plc in May 2020.