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

Atlantica Sustainable Infrastructure plc (NASDAQ:AY) announced a quarterly dividend on Thursday, November 14th,Wall Street Journal reports. Shareholders 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 yield of 4.02%. The ex-dividend date of this dividend is Friday, November 29th.

Atlantica Sustainable Infrastructure has increased its dividend payment 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 Stock Up 0.1 %

Shares of NASDAQ:AY traded up $0.02 during trading on Wednesday, hitting $22.16. The stock had a trading volume of 221,145 shares, compared to its average volume of 1,207,902. The firm’s fifty day moving average is $22.02 and its 200 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. The company has a market capitalization of $2.57 billion, a PE ratio of 76.35, a PEG ratio of 2.15 and a beta of 1.03. Atlantica Sustainable Infrastructure has a 12 month low of $16.82 and a 12 month high of $23.47.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed 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 given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $22.20.

About Atlantica Sustainable Infrastructure

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.