Otter Tail Corporation (NASDAQ:OTTR) announced a quarterly dividend on Thursday, November 2nd, Wall Street Journal reports. Stockholders of record on Wednesday, November 15th will be given a dividend of 0.32 per share by the utilities provider on Saturday, December 9th. This represents a $1.28 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend is Tuesday, November 14th.

Otter Tail Corporation (NASDAQ:OTTR) last posted its earnings results on Wednesday, November 1st. The utilities provider reported $0.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.06. The company had revenue of $216.50 million during the quarter, compared to the consensus estimate of $201.70 million. Otter Tail Corporation had a return on equity of 10.14% and a net margin of 8.35%. The company’s revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.37 earnings per share.

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In related news, CFO Kevin G. Moug sold 1,500 shares of the business’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $41.75, for a total value of $62,625.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.40% of the stock is owned by insiders.

A number of research firms recently commented on OTTR. Zacks Investment Research downgraded Otter Tail Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. BidaskClub raised Otter Tail Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. Finally, KeyCorp reaffirmed a “hold” rating on shares of Otter Tail Corporation in a research note on Friday, October 20th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $43.33.

Otter Tail Corporation Company Profile

Otter Tail Corporation is a holding company. The Company operates through three segments: Electric, Manufacturing and Plastics. The Electric segment includes the production, transmission, distribution and sale of electric energy in Minnesota, North Dakota and South Dakota by Otter Tail Power Company (OTP).

Dividend History for Otter Tail Corporation (NASDAQ:OTTR)

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