Otter Tail Corporation Increases Dividend, Demonstrating Financial Strength and Commitment to Shareholders

Otter Tail Corporation Boosts Dividend, Highlighting Financial Strength and Commitment to Shareholders

Otter Tail Corporation, based in Fergus Falls, Minnesota, announces an increase in its quarterly common stock dividend to $0.525 per share, raising the annual indicated dividend rate to $2.10 per share. This marks a significant increase of $0.23, or 12.3 percent, compared to the previous year's rate. President and CEO Chuck MacFarlane emphasizes that this robust increase reflects the company's strong financial position and unwavering commitment to enhancing shareholder value. The new dividend rate will be effective for the first quarter of 2025, with payments scheduled for March 10, 2025, to shareholders recorded by February 14, 2025.

This dividend increase is particularly noteworthy as it signifies the 87th consecutive year that Otter Tail Corporation has distributed dividends on its common stock. This long-standing record of dividend payments underscores the corporation's stability and commitment to its investors, reinforcing its reputation as a reliable player in the electric utility and manufacturing sectors. The decision to raise dividends is indicative of Otter Tail's confidence in its ongoing financial health and operational success, as the company aims to align its dividend growth with its long-term earnings per share growth targets.

Looking ahead, Otter Tail Corporation prepares to release its 2024 financial results on February 17, 2025, followed by an earnings call scheduled for February 18, 2025, at 10:00 a.m. CT. These upcoming announcements will provide further insights into the company’s financial performance and strategy, potentially influencing future shareholder decisions and expectations. The company’s commitment to maintaining a strong dividend policy continues to resonate well with investors, emphasizing its focus on delivering consistent returns in an evolving market landscape.

In addition to its dividend announcement, Otter Tail operates in diverse sectors, including electric utility and manufacturing, showcasing its adaptability and resilience in various market conditions. The corporation's stock is traded on the NASDAQ Global Select Market, allowing investors to engage with a company that prioritizes long-term stability and growth. For more information, stakeholders can visit the company’s website at www.ottertail.com.