-

Otter Tail Corporation Increases Quarterly Dividend by 12 Percent

FERGUS FALLS, Minn.--(BUSINESS WIRE)--Otter Tail Corporation (Nasdaq: OTTR) announced today that its Board of Directors increased the company’s quarterly common stock dividend to $0.525 per share. The increase brings the annual indicated dividend rate to $2.10 per share, a $0.23, or 12.3 percent, increase over the 2024 rate.

“Otter Tail Corporation ended 2024 in a position of financial strength, and the double-digit increase to our dividend reflects our commitment to delivering shareholder value,” said President and CEO Chuck MacFarlane. “Going forward, we expect our annual dividend increase to approximate our long-term earnings per share growth rate target.”

2025 will mark the 87th consecutive year dividends will be paid on common stock. The first quarter dividend is payable on March 10, 2025 to shareholders of record on February 14, 2025.

The corporation will issue a news release announcing 2024 financial results on Monday, February 17, 2025 and has scheduled an earnings call for Tuesday, February 18, 2025 at 10:00 a.m. CT.

About Otter Tail Corporation: Otter Tail Corporation has interests in diversified operations that include an electric utility and manufacturing businesses. Otter Tail Corporation stock trades on the NASDAQ Global Select Market under the symbol OTTR. The latest investor and corporate information is available at www.ottertail.com. Corporate offices are located in Fergus Falls, Minnesota, and Fargo, North Dakota.

Contacts

Media Contact: Stephanie Hoff, Director of Corporate Communications, (218) 739-8535
Investor Contact: Beth Eiken, Manager of Investor Relations, (701) 451-3571

Industry:

Otter Tail Corporation

NASDAQ:OTTR
Release Versions
English

Contacts

Media Contact: Stephanie Hoff, Director of Corporate Communications, (218) 739-8535
Investor Contact: Beth Eiken, Manager of Investor Relations, (701) 451-3571

More News From Otter Tail Corporation

Otter Tail Corporation Announces Record Annual Earnings and Increases Long-Term Financial Targets

FERGUS FALLS, Minn.--(BUSINESS WIRE)--Otter Tail Corporation (Nasdaq: OTTR) today announced financial results for the quarter and year ended December 31, 2024. SUMMARY Produced record earnings, with annual diluted earnings per share of $7.17. Achieved a consolidated return on equity of 19.3% on an equity ratio of 62.2%. Updated our electric utility’s five-year rate base compounded annual growth rate to 9.0% from 7.7%. Increased our long-term earnings per share growth rate target to 6 to 8%. CEO...

Otter Tail Corporation Will Host Conference Call on 2024 Financial Results

FERGUS FALLS, Minn.--(BUSINESS WIRE)--Otter Tail Corporation (Nasdaq: OTTR) will issue a news release announcing 2024 financial results on Monday, February 17, 2025 and will host a live conference call and webcast on Tuesday, February 18, 2025 at 10:00 a.m. CT to discuss the corporation’s financial and operating performance. Accompanying slides will be posted on the corporation’s website before the webcast begins. To access the live webcast, go to www.ottertail.com/events-and-presentations. Ple...

Otter Tail Power Company Completes Rate Review in North Dakota

FERGUS FALLS, Minn.--(BUSINESS WIRE)--On December 30th, the North Dakota Public Service Commission (PSC) approved a $13.1 million net increase to Otter Tail Power Company’s, a wholly-owned subsidiary of Otter Tail Corporation (Nasdaq: OTTR), electric service rates. While overall costs of living have increased since the company’s last North Dakota rate review, filed in 2017, this average net increase of 6.18 percent keeps the company’s electric service rates among the lowest in the nation. “We’r...
Back to Newsroom