Announcement • Apr 12
Canadian Utilities Limited to Report Q1, 2026 Results on May 06, 2026 Canadian Utilities Limited announced that they will report Q1, 2026 results at 9:30 AM, US Eastern Standard Time on May 06, 2026 Announcement • Apr 11
Canadian Utilities Limited Declares Quarterly Dividends on Class A Non-Voting and Class B Common, Payable on June 1, 2026 The Board of Directors of Canadian Utilities Limited has declared the following quarterly dividends: $0.4623 per share on Class A non-voting and $0.4623 per share on Class B common. Payment Date is June 1, 2026. Record Date is May 7, 2026. Announcement • Apr 08
Atco Ltd., Canadian Utilities Limited and Cu Inc Announce Resignation of Roger Urwin from the Board ATCO Ltd. announced that Roger Urwin has resigned from the Boards of ATCO Ltd., Canadian Utilities Limited, CU Inc., and ATCO Australia. In the interim, board and committee responsibilities will be reassigned as appropriate to ensure continuity of oversight. Announcement • Feb 07
Canadian Utilities Limited to Report Fiscal Year 2025 Results on Feb 26, 2026 Canadian Utilities Limited announced that they will report fiscal year 2025 results on Feb 26, 2026 Announcement • Feb 04
Canadian Utilities Limited, Annual General Meeting, May 07, 2026 Canadian Utilities Limited, Annual General Meeting, May 07, 2026. Announcement • Jan 09
Canadian Utilities Limited Declares Quarterly Dividend, Payable March 1, 2026 Canadian Utilities Limited declared a first quarter dividend of 46.23 cents per Class A non-voting and Class B common share, a 1% increase over the 45.77 cents paid in each of the four previous quarters. This common share dividend is payable March 1, 2026, to shareholders of record on February 5, 2026. Announcement • Oct 11
Canadian Utilities Limited to Report Q3, 2025 Results on Nov 07, 2025 Canadian Utilities Limited announced that they will report Q3, 2025 results on Nov 07, 2025 Announcement • Apr 15
Canadian Utilities Limited announces Quarterly dividend, payable on June 01, 2025 Canadian Utilities Limited announced Quarterly dividend of CAD 0.4577 per share payable on June 01, 2025, ex-date on May 01, 2025 and record date on May 01, 2025. Announcement • Apr 10
Canadian Utilities Limited to Report Q1, 2025 Results on May 07, 2025 Canadian Utilities Limited announced that they will report Q1, 2025 results on May 07, 2025 Announcement • Feb 05
Canadian Utilities Limited, Annual General Meeting, May 08, 2025 Canadian Utilities Limited, Annual General Meeting, May 08, 2025. Announcement • Feb 03
Canadian Utilities Limited to Report Fiscal Year 2024 Results on Feb 27, 2025 Canadian Utilities Limited announced that they will report fiscal year 2024 results on Feb 27, 2025 Announcement • Jan 10
Canadian Utilities Limited Declares First Quarter Dividend on Class A Non-Voting and Class B Common Shares, Payable on March 1, 2025 The Board of Directors of Canadian Utilities Limited declared a first quarter dividend of 45.77 cents per Class A non-voting and Class B common share, a 1% increase over the 45.31 cents paid in each of the four previous quarters. This common share dividend is payable March 1, 2025, to shareholders of record on February 6, 2025. Announcement • Jan 02
Canadian Utilities Limited Appoints Jennifer Westacott Ao to Its Board of Directors Canadian Utilities Limited appointed Jennifer Westacott AO to its Board of Directors, effective immediately. Ms. Westacott's wide-ranging background in leadership and policy development includes her role as the Chief Executive of the Business Council of Australia from 2011 to 2023. She is Chair of the Western City & Aerotropolis Authority, Studio Schools of Australia and Future Generation Global. She has also held senior leadership positions in the New South Wales and Victoria governments. In addition to her public sector experience, Ms. Westacott was a senior partner at KPMG, advising major corporations on climate change, sustainability, and significant reform priorities. She was awarded an Officer of the Order of Australia (AO) in 2018 for her service to policy development and reform, cross-sector collaboration, equity, and business. She currently serves as the Chancellor of Western Sydney University. Reported Earnings • Nov 15
Third quarter 2024 earnings released: CA$0.03 loss per share (vs CA$0.39 profit in 3Q 2023) Third quarter 2024 results: CA$0.03 loss per share (down from CA$0.39 profit in 3Q 2023). Revenue: CA$810.0m (flat on 3Q 2023). Net income: CA$12.0m (down 89% from 3Q 2023). Profit margin: 1.5% (down from 13% in 3Q 2023). Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Integrated Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Declared Dividend • Oct 21
Second quarter dividend of CA$0.45 announced Shareholders will receive a dividend of CA$0.45. Ex-date: 7th November 2024 Payment date: 1st December 2024 Dividend yield will be 5.6%, which is higher than the industry average of 4.5%. Sustainability & Growth Dividend is not adequately covered by earnings (91% earnings payout ratio) nor is it adequately covered by cash flows (97% cash payout ratio). The dividend has increased by an average of 5.4% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 1.1% to bring the payout ratio under control. However, EPS has declined by 9.9% over the last 5 years so the company would need to reverse this trend. Reported Earnings • Aug 04
Second quarter 2024 earnings released: EPS: CA$0.16 (vs CA$0.32 in 2Q 2023) Second quarter 2024 results: EPS: CA$0.16 (down from CA$0.32 in 2Q 2023). Revenue: CA$860.0m (down 2.2% from 2Q 2023). Net income: CA$62.0m (down 28% from 2Q 2023). Profit margin: 7.2% (down from 9.8% in 2Q 2023). Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Integrated Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Upcoming Dividend • Aug 01
Upcoming dividend of CA$0.45 per share Eligible shareholders must have bought the stock before 08 August 2024. Payment date: 01 September 2024. Payout ratio is on the higher end at 84%, and the cash payout ratio is above 100%. Trailing yield: 5.6%. Within top quartile of German dividend payers (4.7%). In line with average of industry peers (5.8%). Declared Dividend • Jul 17
First quarter dividend of CA$0.45 announced Shareholders will receive a dividend of CA$0.45. Ex-date: 8th August 2024 Payment date: 1st September 2024 Dividend yield will be 6.8%, which is higher than the industry average of 4.5%. Sustainability & Growth Dividend is covered by earnings (84% earnings payout ratio) but not covered by cash flows (127% cash payout ratio). The dividend has increased by an average of 6.5% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has remained steady over the last 5 years. Unless this trend deteriorates, it should provide adequate earnings cover for the dividend. New Risk • Jun 14
New major risk - Revenue and earnings growth Earnings have declined by 7.4% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.5x net interest cover). Earnings have declined by 7.4% per year over the past 5 years. Minor Risk Dividend is not well covered by cash flows (127% cash payout ratio). Announcement • May 09
ATCO Energy Systems Announces Its Largest Ever Energy Infrastructure Project: Yellowhead Mainline to Drive Economic Growth in Alberta Canadian Utilities Limited announced a new energy infrastructure project that is expected to be a significant driver of lower-carbon economic growth in Alberta. The Yellowhead Mainline project will expand the capacity and enhance the efficiency of the province's natural gas network, connecting natural gas producers to key markets and delivering the energy required for Alberta's growing population. The project is expected to create approximately 2,000 jobs during construction and will provide gas supply for the more than $20 billion of investment and associated employment in Alberta by customers, including the Dow Fort Saskatchewan Path2Zero project. The project consists of building approximately 200 kilometres of high-pressure natural gas pipeline and related control and compression facilities that will run from Peers, Alberta, to the northeast Edmonton area. Total investment for the project is expected to exceed $2 billion, with more precise cost estimation subject to further refinement of project scope, route and detailed engineering. The expansion is expected to have the capability to deliver about 1,000 terajoules (or 1 billion cubic feet) per day of incremental natural gas delivery capacity and is planned to be on-stream in Fourth Quarter 2027 with construction expected to commence in 2026, subject to regulatory and company approvals. Reported Earnings • May 03
First quarter 2024 earnings released: EPS: CA$0.82 (vs CA$1.01 in 1Q 2023) First quarter 2024 results: EPS: CA$0.82 (down from CA$1.01 in 1Q 2023). Revenue: CA$1.09b (down 3.5% from 1Q 2023). Net income: CA$242.0m (down 11% from 1Q 2023). Profit margin: 22% (down from 24% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 1.7% growth forecast for the Integrated Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Upcoming Dividend • Apr 25
Upcoming dividend of CA$0.45 per share Eligible shareholders must have bought the stock before 01 May 2024. Payment date: 01 June 2024. Payout ratio is on the higher end at 77%, and the cash payout ratio is above 100%. Trailing yield: 6.0%. Within top quartile of German dividend payers (4.8%). In line with average of industry peers (5.6%). New Risk • Apr 22
New major risk - Revenue and earnings growth Earnings have declined by 7.5% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.5x net interest cover). Earnings have declined by 7.5% per year over the past 5 years. Minor Risk Dividend is not well covered by cash flows (111% cash payout ratio). Declared Dividend • Apr 17
Fourth quarter dividend of CA$0.45 announced Shareholders will receive a dividend of CA$0.45. Ex-date: 1st May 2024 Payment date: 1st June 2024 Dividend yield will be 6.8%, which is higher than the industry average of 4.5%. Sustainability & Growth Dividend is covered by earnings (77% earnings payout ratio) but not covered by cash flows (111% cash payout ratio). The dividend has increased by an average of 6.5% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 2.9% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Announcement • Apr 13
Canadian Utilities Limited Declares Quarterly Dividends on Class A Non-Voting and Class B Common, Payable on June 1, 2024 The Board of Directors of Canadian Utilities Limited has declared the following quarterly dividends: $0.4531 per share on Class A non-voting and $0.4531 per share on Class B common. Payment Date is June 1, 2024. Record Date is May 2, 2024. Announcement • Apr 12
Canadian Utilities Limited to Report Q1, 2024 Results on May 02, 2024 Canadian Utilities Limited announced that they will report Q1, 2024 results on May 02, 2024 Reported Earnings • Mar 01
Full year 2023 earnings released: EPS: CA$2.33 (vs CA$2.07 in FY 2022) Full year 2023 results: EPS: CA$2.33 (up from CA$2.07 in FY 2022). Revenue: CA$3.80b (down 6.2% from FY 2022). Net income: CA$707.0m (up 27% from FY 2022). Profit margin: 19% (up from 14% in FY 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, while revenues in the Integrated Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Announcement • Feb 09
Canadian Utilities Limited to Report Fiscal Year 2023 Results on Feb 29, 2024 Canadian Utilities Limited announced that they will report fiscal year 2023 results on Feb 29, 2024 Announcement • Feb 06
Canadian Utilities Limited, Annual General Meeting, May 08, 2024 Canadian Utilities Limited, Annual General Meeting, May 08, 2024. Upcoming Dividend • Jan 24
Upcoming dividend of CA$0.45 per share at 5.7% yield Eligible shareholders must have bought the stock before 31 January 2024. Payment date: 01 March 2024. Payout ratio is on the higher end at 82%, and the cash payout ratio is above 100%. Trailing yield: 5.7%. Within top quartile of German dividend payers (5.1%). In line with average of industry peers (5.5%). Announcement • Jan 12
Canadian Utilities Limited Declares First Quarter Dividend, Payable on March 1, 2024 The Board of Directors of Canadian Utilities Limited declared a first quarter dividend of 45.31 cents per Class A non-voting and Class B common share, a 1% increase over the 44.86 cents paid in each of the four previous quarters. This common share dividend is payable March 1, 2024, to shareholders of record on February 1, 2024. Reported Earnings • Oct 27
Third quarter 2023 earnings released: EPS: CA$0.39 (vs CA$0.33 in 3Q 2022) Third quarter 2023 results: EPS: CA$0.39 (up from CA$0.33 in 3Q 2022). Revenue: CA$812.0m (down 9.6% from 3Q 2022). Net income: CA$125.0m (up 40% from 3Q 2022). Profit margin: 15% (up from 9.9% in 3Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 1.8% decline forecast for the Integrated Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Upcoming Dividend • Oct 25
Upcoming dividend of CA$0.45 per share at 6.2% yield Eligible shareholders must have bought the stock before 01 November 2023. Payment date: 01 December 2023. Payout ratio is on the higher end at 84%, and the cash payout ratio is above 100%. Trailing yield: 6.2%. Within top quartile of German dividend payers (5.0%). In line with average of industry peers (5.9%). Announcement • Oct 06
Canadian Utilities Limited to Report Q3, 2023 Results on Oct 26, 2023 Canadian Utilities Limited announced that they will report Q3, 2023 results on Oct 26, 2023 Announcement • Sep 14
Canadian Utilities Limited Declares Quarterly Dividend on Class A Non-Voting and Class B Common Share, Payable on December 01, 2023 Canadian Utilities Limited declared quarterly common dividend of 0.4486 per share on Class A non-voting shares and Class B common shares. This common share dividend is payable December 01, 2023, to shareholders of record on November 02, 2023. Recent Insider Transactions • Aug 24
Independent Director recently bought €414k worth of stock On the 16th of August, Robert J. Hanf bought around 19k shares on-market at roughly €21.81 per share. This transaction increased Robert J.'s direct individual holding by 2x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €414k more in shares than they have sold in the last 12 months. New Risk • Jul 28
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 113% Dividend yield: 5.5% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (18% operating cash flow to total debt). Minor Risk Dividend is not well covered by cash flows (113% cash payout ratio). Reported Earnings • Jul 28
Second quarter 2023 earnings released: EPS: CA$0.32 (vs CA$0.50 in 2Q 2022) Second quarter 2023 results: EPS: CA$0.32 (down from CA$0.50 in 2Q 2022). Revenue: CA$879.0m (down 5.8% from 2Q 2022). Net income: CA$105.0m (down 22% from 2Q 2022). Profit margin: 12% (down from 14% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 2.2% p.a. on average during the next 3 years, while revenues in the Integrated Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 26
Upcoming dividend of CA$0.45 per share at 5.2% yield Eligible shareholders must have bought the stock before 02 August 2023. Payment date: 01 September 2023. Payout ratio and cash payout ratio are on the higher end at 77% and 84% respectively. Trailing yield: 5.2%. Within top quartile of German dividend payers (4.8%). In line with average of industry peers (5.6%). Announcement • Jul 13
Canadian Utilities Limited Declares Quarterly Dividend on Class A Non-Voting and Class B Common Share, Payable on September 01, 2023 Canadian Utilities Limited declared quarterly common dividend of 0.4486 per share on Class A non-voting shares and Class B common shares. This common share dividend is payable September 01, 2023, to shareholders of record on August 03, 2023. Announcement • Jul 07
Canadian Utilities Limited to Report Q2, 2023 Results on Jul 27, 2023 Canadian Utilities Limited announced that they will report Q2, 2023 results at 9:30 AM, US Eastern Standard Time on Jul 27, 2023 Announcement • Jun 19
Canadian Utilities Limited(TSX:CU) dropped from FTSE All-World Index (USD) Canadian Utilities Limited(TSX:CU) dropped from FTSE All-World Index (USD) Announcement • May 06
Canadian Utilities Limited Announces Executive Changes Canadian Utilities Limited at the AGM, the shareholders approved the appointment of Kelly C. Koss-Brix and Robert J. Routs as directors. Reported Earnings • Apr 28
First quarter 2023 earnings released: EPS: CA$2.02 (vs CA$0.78 in 1Q 2022) First quarter 2023 results: EPS: CA$2.02 (up from CA$0.78 in 1Q 2022). Revenue: CA$1.13b (up 1.9% from 1Q 2022). Net income: CA$292.0m (up 40% from 1Q 2022). Profit margin: 26% (up from 19% in 1Q 2022). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 1.2% p.a. on average during the next 3 years, while revenues in the Integrated Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 4% per year. Upcoming Dividend • Apr 26
Upcoming dividend of CA$0.45 per share at 4.5% yield Eligible shareholders must have bought the stock before 03 May 2023. Payment date: 01 June 2023. Payout ratio is on the higher end at 86%, however this is supported by cash flows. Trailing yield: 4.5%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (5.3%). Reported Earnings • Mar 04
Full year 2022 earnings released: EPS: CA$2.07 (vs CA$1.22 in FY 2021) Full year 2022 results: EPS: CA$2.07 (up from CA$1.22 in FY 2021). Revenue: CA$4.05b (up 15% from FY 2021). Net income: CA$632.0m (up 93% from FY 2021). Profit margin: 16% (up from 9.3% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, while revenues in the Integrated Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Announcement • Feb 10
Canadian Utilities Limited to Report Fiscal Year 2022 Results on Mar 02, 2023 Canadian Utilities Limited announced that they will report fiscal year 2022 results on Mar 02, 2023 Upcoming Dividend • Jan 25
Upcoming dividend of CA$0.45 per share at 4.7% yield Eligible shareholders must have bought the stock before 01 February 2023. Payment date: 01 March 2023. Payout ratio is on the higher end at 81%, however this is supported by cash flows. Trailing yield: 4.7%. Within top quartile of German dividend payers (4.7%). In line with average of industry peers (4.9%). Announcement • Jan 13
Canadian Utilities Limited Declares First Quarter Dividend on Class A Non-Voting and Class B Common Share, Payable on March 1, 2023 The Board of Directors of Canadian Utilities Limited declared a first quarter dividend of 44.86 cents per Class A non-voting and Class B common share, a one percent increase over the 44.42 cents paid in each of the four previous quarters. This common share dividend is payable March 1, 2023, to shareholders of record on February 2, 2023. Announcement • Jan 07
Canadian Utilities Limited (TSX:CU) acquired Portfolio of Wind and Solar Assets and Projects Located in Alberta and Ontario from Suncor Energy Inc. (TSX:SU) for approximately CAD 710 million. Canadian Utilities Limited (TSX:CU) entered into a definitive agreement to acquire a Portfolio of Wind and Solar Assets and Projects Located in Alberta and Ontario of Suncor Energy Inc. (TSX:SU) for approximately CAD 730 million on October 5, 2022. The transaction is subject to customary closing conditions, including applicable third-party regulatory reviews and approvals. The purchase price is subject to closing adjustments typical of transactions of this nature. The transaction is expected to close in the first quarter of 2023. The acquisition is expected to be earnings and cash flow accretive in 2023.
Canadian Utilities Limited (TSX:CU) acquired Portfolio of Wind and Solar Assets and Projects Located in Alberta and Ontario from Suncor Energy Inc. (TSX:SU) for approximately CAD 710 million on January 6, 2023. Board Change • Nov 16
High number of new directors Corporate Director Wayne Wouters was the last director to join the board, commencing their role in 2022. Reported Earnings • Oct 28
Third quarter 2022 earnings released: EPS: CA$0.33 (vs CA$0.20 in 3Q 2021) Third quarter 2022 results: EPS: CA$0.33 (up from CA$0.20 in 3Q 2021). Revenue: CA$898.0m (up 14% from 3Q 2021). Net income: CA$109.0m (up 98% from 3Q 2021). Profit margin: 12% (up from 7.0% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.6% p.a. on average during the next 3 years, while revenues in the Integrated Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Upcoming Dividend • Oct 26
Upcoming dividend of CA$0.44 per share Eligible shareholders must have bought the stock before 02 November 2022. Payment date: 01 December 2022. Payout ratio is on the higher end at 85%, however this is supported by cash flows. Trailing yield: 5.0%. Lower than top quartile of German dividend payers (5.1%). In line with average of industry peers (5.4%). Board Change • Sep 08
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Corporate Director Wayne Wouters was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Jul 29
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: CA$933.0m (up 18% from 2Q 2021). Net income: CA$151.0m (up CA$162.0m from 2Q 2021). Profit margin: 16% (up from net loss in 2Q 2021). The move to profitability was primarily driven by higher revenue. Over the next year, revenue is expected to shrink by 6.4% compared to a 7.0% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Upcoming Dividend • Jul 27
Upcoming dividend of CA$0.44 per share Eligible shareholders must have bought the stock before 03 August 2022. Payment date: 01 September 2022. The company is paying out more than 100% of its profits and is paying out 92% of its cash flow. Trailing yield: 4.4%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (5.2%). Recent Insider Transactions • May 28
Insider recently sold €103k worth of stock On the 24th of May, Chad Gareau sold around 4k shares on-market at roughly €29.43 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €154k more than they bought in the last 12 months. Board Change • May 08
High number of new directors Independent Director Bob Hanf was the last director to join the board, commencing their role in 2021. Reported Earnings • Apr 30
First quarter 2022 earnings released: EPS: CA$0.78 (vs CA$0.46 in 1Q 2021) First quarter 2022 results: EPS: CA$0.78 (up from CA$0.46 in 1Q 2021). Revenue: CA$1.11b (up 22% from 1Q 2021). Net income: CA$209.0m (up 69% from 1Q 2021). Profit margin: 19% (up from 14% in 1Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is expected to shrink by 4.4% compared to a 1.1% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Upcoming Dividend • Apr 27
Upcoming dividend of CA$0.44 per share Eligible shareholders must have bought the stock before 04 May 2022. Payment date: 01 June 2022. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 4.5%. Within top quartile of German dividend payers (4.0%). Higher than average of industry peers (3.3%). Reported Earnings • Feb 25
Full year 2021 earnings: Revenues exceed analyst expectations Full year 2021 results: Revenue: CA$3.52b (up 8.7% from FY 2020). Net income: CA$393.0m (up 9.2% from FY 2020). Profit margin: 11% (in line with FY 2020). Revenue exceeded analyst estimates by 3.1%. Over the next year, revenue is expected to shrink by 9.2% compared to a 2.6% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Upcoming Dividend • Jan 26
Upcoming dividend of CA$0.44 per share Eligible shareholders must have bought the stock before 02 February 2022. Payment date: 01 March 2022. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 4.9%. Within top quartile of German dividend payers (3.4%). Higher than average of industry peers (3.2%). Reported Earnings • Oct 29
Third quarter 2021 earnings released The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: CA$790.0m (up 8.7% from 3Q 2020). Net income: CA$71.0m (down 4.1% from 3Q 2020). Profit margin: 9.0% (down from 10% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Upcoming Dividend • Oct 27
Upcoming dividend of CA$0.44 per share Eligible shareholders must have bought the stock before 03 November 2021. Payment date: 01 December 2021. Trailing yield: 5.0%. Within top quartile of German dividend payers (3.2%). Higher than average of industry peers (3.3%). Recent Insider Transactions • Sep 23
Insider recently sold €99k worth of stock On the 17th of September, Melanie Bayley sold around 4k shares on-market at roughly €23.13 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €260k more than they bought in the last 12 months. Executive Departure • Aug 20
Executive VP & CFO Dennis DeChamplain has left the company On the 16th of August, Dennis DeChamplain's tenure as Executive VP & CFO ended after 4.2 years in the role. As of June 2021, Dennis still personally held 23.92k shares (€569k worth at the time). A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 3.50 years. Executive Departure • Aug 20
Executive VP & CFO Dennis DeChamplain has left the company On the 16th of August, Dennis DeChamplain's tenure as Executive VP & CFO ended after 4.2 years in the role. As of June 2021, Dennis still personally held 23.92k shares (€569k worth at the time). A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 3.50 years. Reported Earnings • Jul 30
Second quarter 2021 earnings released The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: CA$790.0m (up 6.8% from 2Q 2020). Net income: CA$5.00m (down 91% from 2Q 2020). Profit margin: 0.6% (down from 7.6% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Upcoming Dividend • Jul 28
Upcoming dividend of CA$0.44 per share Eligible shareholders must have bought the stock before 04 August 2021. Payment date: 01 September 2021. Trailing yield: 4.9%. Within top quartile of German dividend payers (3.2%). Higher than average of industry peers (3.6%). Recent Insider Transactions • May 21
Insider recently sold €78k worth of stock On the 14th of May, D. Sharpe sold around 3k shares on-market at roughly €24.09 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €505k more than they bought in the last 12 months. Reported Earnings • May 01
First quarter 2021 earnings released The company reported a mediocre first quarter result with weaker earnings, although profit margins were flat and revenues improved. First quarter 2021 results: Revenue: CA$907.0m (up 2.5% from 1Q 2020). Net income: CA$141.0m (down 1.4% from 1Q 2020). Profit margin: 16% (in line with 1Q 2020). Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Apr 28
Upcoming dividend of CA$0.44 per share Eligible shareholders must have bought the stock before 05 May 2021. Payment date: 01 June 2021. Trailing yield: 5.1%. Within top quartile of German dividend payers (3.2%). Higher than average of industry peers (3.4%). Recent Insider Transactions • Mar 14
President & CEO recently sold €71k worth of stock On the 9th of March, Siegfried Kiefer sold around 3k shares on-market at roughly €20.93 per share. This was the largest sale by an insider in the last 3 months. Siegfried has been a seller over the last 12 months, reducing personal holdings by €268k. Reported Earnings • Feb 26
Full year 2020 earnings released: EPS CA$1.31 (vs CA$3.24 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: CA$3.23b (down 17% from FY 2019). Net income: CA$427.0m (down 52% from FY 2019). Profit margin: 13% (down from 23% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Analyst Estimate Surprise Post Earnings • Feb 26
Revenue misses expectations Revenue missed analyst estimates by 6.0%. Over the next year, revenue is forecast to grow 8.3%, compared to a 5.6% growth forecast for the Integrated Utilities industry in Germany. Upcoming Dividend • Jan 27
Upcoming Dividend of CA$0.44 Per Share Will be paid on the 1st of March to those who are registered shareholders by the 3rd of February. The trailing yield of 5.4% is in the top quartile of German dividend payers (3.5%), and it is higher than industry peers (3.4%). Is New 90 Day High Low • Jan 22
New 90-day high: €22.40 The company is up 4.0% from its price of €21.60 on 23 October 2020. The German market is up 12% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Integrated Utilities industry, which is up 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €63.03 per share.