Atlantic Power Keeps July Dividend Steady

Atlantic Power announced today its monthly dividend distribution of Canadian $0.0333 ($0.0320) for July 2013.

The Canada-based utility has operations in the U.S. and Canada, and dropped its dividend distribution 66% in March 2013 to "establish a lower and more sustainable Payout Ratio that balances yield and growth."

AT Dividend data by YCharts

The monthly dividend will be payable on August 30 to Atlantic Power shareholders of record on July 31, with non-Canadians subject to a 15% to 25% withholding tax rate.

Despite the decrease, a subsequent drop in stock price has kept its overall yield significantly above average. At its current $4.41 share price, the utility's annual dividend yield clocks in around 8.7%.

The article Atlantic Power Keeps July Dividend Steady originally appeared on Fool.com.

Fool contributor Justin Loiseau has no position in any stocks mentioned, but he does use electricity. You can follow him on Twitter, @TMFJLo, and on Motley Fool CAPS, @TMFJLo.The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.