AltaGas Announces 6% Dividend Increase and Adoption of a Quarterly Payment Schedule

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AltaGas Announces 6% Dividend Increase and Adoption of a Quarterly Payment Schedule

by ahnationtalk on December 3, 202167 Views

CALGARY, AB, Dec. 3, 2021 – AltaGas Ltd. (“AltaGas” or the “Company”) (TSX: ALA) today announced that the Company’s Board of Directors have approved a six percent increase to its annual common share dividends ($1.06 per common share annually) for the 2022 calendar year. Concurrently, AltaGas is moving from a monthly to a quarterly payment schedule with dividends expected to be made in March, June, September and December of the 2022 calendar year and paid on a quarterly basis at the rate of $0.265 per common share. Subject to approval of the board of directors, the first quarterly dividend of $0.265 per common share ($1.06 per common share annually) is expected to be effective for the March dividend that will be paid on March 31, 2022, to common shareholders of record on March 16, 2022. Monthly dividend payments will continue until the end of 2021. The December dividend of $0.0833 per common share will be paid on December 31, 2021, to common shareholders of record on December 22, 2021.  These dividends are eligible dividends for Canadian income tax purposes.

CEO MESSAGE

“The six percent dividend increase builds upon our prior year dividend increase and reflects the success related to the purposeful actions we have taken over the past number of years to reposition the Company and our confidence in AltaGas being able to deliver continued earnings growth in the years ahead. We believe the six percent increase balances the Company’s desire to return more cash to shareholders with our focus on continuing to de-leverage the balance sheet and fund the strong organic growth opportunities that are on the horizon. We look forward to discussing our strategic priorities and growth plans at our 2021 Investor Day on December 15, 2021.”

2021 INVESTOR DAY

Time:

December 15, 2021: 8:00 a.m. MT (10:00 a.m. ET or 15:00 GMT London)

Webcast Registration:

Link

Dial-in:

U.S. and Canada Toll Free: (844) 776-0516

International: (646) 632-1756

Passcode:

7197381

The webcast, presentations and other materials will be available shortly after the conclusion of the event on AltaGas’ website at https://www.altagas.ca/invest/events-and-presentations.

ABOUT ALTAGAS

AltaGas is a leading North American energy infrastructure Company that connects NGLs and natural gas to domestic and global markets. The Company operates a diversified, lower-risk, high-growth Utilities and Midstream business that is focused on delivering resilient and durable value for its stakeholders.

For more information visit www.altagas.ca or reach out to one of the following:

Jon Morrison
Senior Vice President, Investor Relations & Corporate Development
[email protected]

Adam McKnight
Director, Investor Relations
[email protected]

Investor Inquiries
1-877-691-7199
[email protected]

Media Inquiries
1-403-206-2841
[email protected]

NT4

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