ATCO Ltd. today announced first quarter adjusted earnings for 2017 of $117 million compared to $121 million in 2016.
Higher earnings in the Electricity and Pipelines & Liquids global business units mainly due to continued capital investment and rate base growth in our Regulated Utilities were offset by lower earnings in Structures & Logistics primarily due to lower Modular Structures major project activity.
ATCO invested $298 million in capital growth projects in the first quarter of 2017, of which 95 per cent was invested in assets that earn a return under a regulatory business model or are secured under long-term contracts. This capital investment is expected to contribute significant earnings and cash flow and create long-term value for share owners.
On April 6, 2017, ATCO declared a second quarter dividend for 2017 of 32.75 cents per Class I Non-Voting and Class II Voting Share, a 15 per cent increase over the quarterly dividends declared in the same period of 2016. ATCO's annual dividend per share has increased for 24 consecutive years.
With approximately 7,000 employees and assets of $20 billion, ATCO is a diversified global corporation delivering service excellence and innovative business solutions in Structures & Logistics (workforce housing, innovative modular facilities, construction, site support services, and logistics and operations management); Electricity (electricity generation, transmission, and distribution); Pipelines & Liquids (natural gas transmission, distribution and infrastructure development, energy storage, and industrial water solutions); and Retail Energy (electricity and natural gas retail sales). More information can be found at www.ATCO.com.
SOURCE: ATCO Ltd.
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