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

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 dividend on an annualized basis 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% annually 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. 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 %

AY opened at $22.16 on Thursday. The firm has a market cap of $2.57 billion, a price-to-earnings ratio of 76.42, a price-to-earnings-growth ratio of 2.15 and a beta of 1.03. Atlantica Sustainable Infrastructure has a 52 week low of $16.82 and a 52 week high of $23.47. The business’s 50 day moving average is $22.03 and its two-hundred day moving average is $22.09. The company has a quick ratio of 1.20, a current ratio of 1.25 and a debt-to-equity ratio of 3.36.

Analysts Set New Price Targets

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