Looking back to 94 days ago, Algonquin Power & Utilities Corp (NYSE:AQN) priced a 20,000,000 share secondary stock offering at $50.00 per share. Buyers in that offering made a considerable investment into the company, expecting that their investment would go up over the course of time. In trading on Monday, bargain hunters could buy shares of AQN and achieve a cost basis 69.6% cheaper than those buyers, with shares changing hands as low as $15.20 per share. It should be noted that investors at the secondary have collected $0.17/share in dividends since the time of their purchase, so they are currently down 69.3% on their purchase from a total return basis.
Secondaries can often present buying opportunities for bullish investors interested in purchasing shares, because the sudden extra supply of stock tends to require that the offering be priced at an attractive discount to where the stock had previously been trading before the offering announcement. At last check, Algonquin Power & Utilities Corp shares are currently trading down about 0.7% on the day. The chart below shows the one year performance of AQN shares, versus its 200 day moving average:
Looking at the chart above, AQN's low point in its 52 week range is $13.72 per share, with $17.86 as the 52 week high point — that compares with a last trade of $15.23.
The current annualized dividend paid by Algonquin Power & Utilities Corp is $0.6824/share, currently paid in quarterly installments, and its most recent dividend has an upcoming ex-date of 09/29/2021. Below is a long-term dividend history chart for AQN, which can be of good help in judging whether the most recent dividend with approx. 4.5% annualized yield is likely to continue.
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