Algonquin reports second quarter results and announces US redomicile intention
Net earnings were $4.9 million for the quarter. The company plans to move incorporation to Delaware in 2027, aligning with its U.S. asset base.
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Rate-regulated electricity, natural gas, and water utility operator
algonquinpower.comLast updated
In short: Algonquin announced plans to redomicile to the United States and move its headquarters to Chicago to attract more investment.
Net earnings were $4.9 million for the quarter. The company plans to move incorporation to Delaware in 2027, aligning with its U.S. asset base.
Shareholders approved auditor, share unit plan amendment, and executive compensation advisory.
The notes due 2031 and 2036 will refinance existing debt.
Net earnings are $83.1 million ($0.11/share); adjusted net earnings $99.6 million ($0.13/share). Achieves regulatory resolutions in Missouri, California, Massachusetts; files Arizona settlement.
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