The AES Corporation (AES) to Issue Quarterly Dividend of $0.18 on November 13th

The AES Corporation (NYSE:AES) declared a quarterly dividend on Thursday, October 8th. Stockholders of record on Friday, October 30th will be paid a dividend of $0.1759 per share by the utilities provider on Friday, November 13th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend is Friday, October 30th.

AES has a payout ratio of 31.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect AES to earn $2.31 per share next year, which means the company should continue to be able to cover its $0.70 annual dividend with an expected future payout ratio of 30.3%.

AES Stock Down 0.0%

Shares of AES stock opened at $15.03 on Wednesday. The stock’s 50-day moving average is $14.86 and its 200 day moving average is $14.75. AES has a 1-year low of $13.21 and a 1-year high of $17.65.

AES (NYSE:AES) last announced its earnings results on Tuesday, August 4th. The utilities provider reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.15. The firm had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.11 billion. On average, analysts forecast that AES will post 2.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of AES from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, August 17th. Seven equities research analysts have rated the stock with a Hold rating. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $15.83.

About AES

AES Corporation is a global energy company that develops, owns and operates power generation and utility businesses. Its activities include generating and supplying electricity, developing renewable energy projects, and providing energy infrastructure and related services.

The company’s portfolio includes solar, wind, battery energy storage and hydroelectric facilities, as well as natural gas-fired generation and other conventional power assets. AES also works with businesses and other energy users to provide customized clean-energy solutions, including renewable power procurement and storage.

Founded in 1981 as Applied Energy Services, AES serves customers through operations and projects in the United States and international markets across North and South America, Europe and Asia.