Page 1

2024-01-22 17:23 Algonquin Power & Utilities Corp. AQN Home / Corporate Profile / News & Market Information / News ^ TSX $ 8.03 CAD +0.03 [ + 0.38 % ] ^ NYSE $ 5.97 USD +0.01 [ + 0.17 % ] PRESS RELEASE Algonquin Power & Utilities Corp. Announces 2021 Fir Quarter Financial Results Company Release - 5/6/2021 OAKVILLE , ON , May 6 , 2021 / CNW / - Algonquin Power & Utilities Corp. ( TSX : AQN ) ( NYSE : AQN ) ( " AQN " or the " Company " ) financial results for the first quarter ended March 31 , 2021. All amounts are shown in United States dollars ( " U.S. $ " or " $ " noted . " We are pleased to announce that today our Board of Directors approved a 10 % increase in our annual common shar in part by the ongoing execution of AQN's previously - announced 1,600 MW renewable energy construction program - Company's history , " said Arun Banskota , President and Chief Executive Officer of AQN . " Nearly 1,400 MWs have already service and the remainder are on schedule for completion by year - end . This will effectively double our portfolio of ow renewables , underscoring our commitment to growth , operational excellence , and sustainability . " Q1 2021 Financial Highlights • Revenues of $ 634.5 million , an increase of 36 % ; • Adjusted EBITDA of $ 282.9 million , an increase of 17 % ; • Adjusted Net Earnings of $ 124.5 million , an increase of 21 % ; • Adjusted Net Earnings per share of $ 0.20 , an increase of 5 % , in each case on a year - over - year basis . Key Financial Information Three months ended March 31 All amounts in U.S. $ millions except per share information 2021 2020 Change Revenue Net earnings ( loss ) attributable to shareholders Per share $ 634.5 464.9 36 % 13.9 ( 63.8 ) 122 % 0.02 ( 0.13 ) 115 % Cash provided by ( used in ) operating activities ( 243.5 ) 66.9 ( 464 ) % Adjusted Net Earnings¹ 124.5 103.3 21 % Per share 0.20 0.19 5 % Adjusted EBITDA1 282.9 242.2 17 % Adjusted Funds from Operations¹ 205.3 179.3 1793 15 % Dividends per share 0.1551 0.1410 10 % 1. Please refer to " Non - GAAP Financial Measures " at the end of this document for further details . Corporate Highlights • Increase in Common Share Dividend - Consistent with AQN's history of delivering total shareholder return comp current dividend yield and capital appreciation , on May 6 , 2021 , AQN's Board of Directors approved a 10 % dividen https://investors.algonquinpower.com/news-market-information/news/news-details/2021/Algonquin-Power--Utilities-Corp.-Announces-2021-First-Quarter-Financial-Results/default.aspx 1/7