AltaGas Hikes Quarterly Dividend 6% On Strong Outlook

AltaGas (ALA) is raising its quarterly dividend by 6% as its outlook for the year ahead improves.

The Calgary-based energy infrastructure company announced that it will pay a quarterly dividend of $0.28 per share going forward, up from $0.265 previously.

The increased shareholder payment comes as AltaGas issued bullish forward guidance, saying it expects earnings per share of $1.85 to $2.05 in 2023.

AltaGas added that its capital program for 2023 is expected to total $930 million, and it anticipates about $90 million of capital investments that were approved in 2022 to be spent early next year.

AltaGas’ stock is down 11% this year at $23.86 per share.