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AltaGas ups dividend payout as Q2 normalized EBITDA grows 43% YOY


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AltaGas ups dividend payout as Q2 normalized EBITDA grows 43% YOY

increased its annualdividend payout by 6.1% to C$2.10 per share after reporting a record second-quarternormalized EBITDA of C$153 million — up 43% year over year. The company recordedsecond-quarter normalized EBITDA of C$1.01 on a per-share basis.

Companyshareholders as of Aug. 25 will receive 17.5 Canadian cents per share in dividendsSept. 15, the company announced July 21.

AltaGassaid its second-quarter results were helped by its power segment, which added theSan Joaquin and McLymont Creekassets at an earlier date. The company booked C$114 million, or 75 cents per share,in second-quarter fund from operations, up from C$68 million, or 50 cents per share,in the same period of 2015.

Second-quarternormalized net income also increased to C$29 million, or 19 cents per share, fromC$9 million, or 7 cents per share, in the same quarter of 2015.

AltaGas'second-quarter revenues grew C$10 million year over year to C$426 million, resultsshowed.