Otter Tail increases dividend 6.9% to 46.75c

Otter Tail announced the Board of Directors increased the company’s quarterly common stock dividend to 46.75c per share. The increase brings the annual indicated dividend rate to $1.87 per share, a 12c, or 6.9%, increase over the 2023 rate. The increase is in line with our stated long term earnings growth rate of 5% to 7%. 2024 will mark the 86th consecutive year dividends will be paid on common stock. The first quarter dividend is payable on March 8 to shareholders of record on February 15.