Algonquin Power shifts focus and sells sustainable activities

Algonquin force (TSE:AQN) has released an update.

Algonquin Power & Utilities Corp. is in the process of transitioning to become a purely regulated utility, aiming to simplify operations and improve efficiency by selling its renewable energy business. This move is expected to support the company’s common stock dividend, reduce its cost of capital and maintain a solid credit rating, with the sale expected to close by the end of 2024. Despite ongoing strategic changes and the search for a CEO, Algonquin continues to deliver strong performance. in the utility and renewable segments.

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