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AltaGas Issues Guidance For FY23; Ups Annual Dividend

AltaGas Ltd. (ALA), an energy infrastructure company, on Monday issued guidance for the fiscal 2023. In addition, it also approved a six percent hike to the yearly per share dividend.

For 2023, the energy firm expects income per share of C$1.85 to C$2.05, on normalized EBITDA of C$1.5 billion to C$1.6 billion.

Eleven analysts, on average, polled by Thomson-Reuters expect the firm to report EPS of C$2.01, for the year. Analysts' estimates typically exclude one-time items.

For the fiscal 2023, the Board recommended a six percent rise to the annual dividend of C$1.12 per share. it will be paid on a quarterly basis at the rate of $0.28 per share.

The first quarterly dividend of $0.28 per share is expected to be effective from March 2023 that will be paid on March 31, 2023, to shareholders of record on March 16, 2023.

Randy Crawford, CEO of AltaGas, said: "Our plan to invest $930 million of growth and maintenance capital, without the issuance of equity, will position the company to continue to grow EPS and dividends for many years. We have a clear plan for the road ahead, which our highly capable senior leaders and employees will champion and execute to deliver marked benefits for all our stakeholders in the years ahead…"

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