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Atlantica Yield posts YOY drop in Q2 adjusted EBITDA

Atlantica Yield PLC on Aug. 7 reported second-quarter 2019 further adjusted EBITDA, including unconsolidated affiliates, of $229.4 million, compared to $263.5 million in the prior-year period.

Second-quarter cash available for distribution totaled $49.4 million, rising from $46.7 million in the same quarter of 2018. The company reported revenue of $283.3 million, a decline from $287.8 million a year earlier.

Profit for the period attributable to the company was $27.7 million, or 27 cents per share, compared to $72.1 million, or 72 cents per share, a year earlier. Operating profit also dropped year over year to $153.0 million, from $175.7 million.

The company expects to pay a quarterly dividend of 40 cents per share on Sept. 13 to shareholders of record Aug. 30. The dividend represents an 18% increase with respect to the second quarter of 2018.