Algonquin Power (TSE:AQN) has released an update.
Algonquin Power & Utilities Corp. is transitioning to become a pure-play regulated utility, aiming to simplify operations and improve efficiency by selling its renewable energy business. The move is expected to support the company’s common share dividend, reduce capital costs, and maintain a solid credit rating, with the sale anticipated to conclude by the end of 2024. Despite ongoing strategic changes and a CEO search, Algonquin continues to show strong performance in its utility and renewable segments.
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