News Formal

Algonquin Power signs deal to sell renewable energy business for up to US$2.5-billion

  • 📰 globeandmail
  • ⏱ Reading Time:
  • 46 sec. here
  • 14 min. at publisher
  • 📊 Quality Score:
  • News: 64%
  • Publisher: 92%

Topenergy Notícia

Energy,Share,United States

The deal came as Algonquin, which keeps its books in U.S. dollars, reported a profit attributable to shareholders of US$200.8-million or 28 cents US per share for the quarter ended June 30

says it has signed a deal to sell its renewable energy business to a subsidiary of LS Power for up to US$2.5-billion.

Under the deal, which does not include Algonquin’s hydro business, LS Power will pay US$2.28-billion in cash at closing and up to US$220-million under an earn out agreement related to certain wind assets. The deal came as the company, which keeps its books in U.S. dollars, reported a profit attributable to shareholders of US$200.8-million or 28 cents US per share for the quarter ended June 30 compared with a loss of US$253.2-million or 37 cents US per share a year ago.On an adjusted basis, Algonquin says it earned nine cents per share in its latest quarter, up from an adjusted profit of eight cents per share a year earlier.

The company also announced it was cutting its dividend to 6.5 cents US per share for the third quarter from 10.85 cents US per share in the second quarter.Study and track financial data on any traded entity: click to open the full quote page. Data updated as of

 

Obrigado pelo seu comentário. Seu comentário será publicado após ser revisado.
Resumimos esta notícia para que você possa lê-la rapidamente. Se você se interessou pela notícia, pode ler o texto completo aqui. Consulte Mais informação:

 /  🏆 5. in BR

Brasil Últimas Notícias, Brasil Manchetes

Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.

Algonquin Power signs deal to sell renewable energy business for up to US$2.5BOAKVILLE, Ont. — Algonquin Power & Utilities Corp. says it has signed a deal to sell its renewable energy business to a subsidiary of LS Power for up to US...
Fonte: YahooFinanceCA - 🏆 47. / 63 Consulte Mais informação »

Algonquin Power signs deal to sell renewable energy business for up to US$2.5BOAKVILLE, Ont. — Algonquin Power & Utilities Corp. says it has signed a deal to sell its renewable energy business to a subsidiary of LS Power for up to US$2.5 billion.
Fonte: SooToday - 🏆 8. / 85 Consulte Mais informação »

Algonquin Power & Utilities to sell renewable energy business for up to $2.5 billionCanada's Algonquin Power & Utilities Corp said on Friday that it is selling its renewable energy business, excluding hydropower operations, to a wholly-owned...
Fonte: YahooFinanceCA - 🏆 47. / 63 Consulte Mais informação »