Atlantica Sustainable Infrastructure plc Declares Quarterly Dividend of $0.22 (NASDAQ:AY)

Atlantica Sustainable Infrastructure plc (NASDAQ:AY) announced a quarterly dividend on Thursday, November 14th,Wall Street Journal reports. Stockholders of record on Friday, November 29th will be given a dividend of 0.2225 per share by the utilities provider on Thursday, December 12th. This represents a $0.89 annualized dividend and a dividend yield of 4.02%. The ex-dividend date of this dividend is Friday, November 29th.

Atlantica Sustainable Infrastructure has increased its dividend payment by an average of 2.4% per year over the last three years. Atlantica Sustainable Infrastructure has a payout ratio of 109.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Atlantica Sustainable Infrastructure to earn $0.50 per share next year, which means the company may not be able to cover its $0.89 annual dividend with an expected future payout ratio of 178.0%.

Atlantica Sustainable Infrastructure Price Performance

Shares of AY traded up $0.02 during trading hours on Wednesday, hitting $22.16. 142,519 shares of the company were exchanged, compared to its average volume of 1,207,013. The company has a market capitalization of $2.57 billion, a PE ratio of 76.35, a PEG ratio of 2.15 and a beta of 1.03. The company has a debt-to-equity ratio of 3.36, a current ratio of 1.25 and a quick ratio of 1.20. The firm has a fifty day simple moving average of $22.02 and a 200-day simple moving average of $22.09. Atlantica Sustainable Infrastructure has a one year low of $16.82 and a one year high of $23.47.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on Atlantica Sustainable Infrastructure in a report on Friday, November 22nd. They set a “sell” rating on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $22.20.

About Atlantica Sustainable Infrastructure

Atlantica Sustainable Infrastructure plc owns, manages, and invests in renewable energy, storage, natural gas and heat, electric transmission lines, and water assets in North America, South America, Europe, the Middle East, and Africa. The company was formerly known as Atlantica Yield plc and changed its name to Atlantica Sustainable Infrastructure plc in May 2020.