RE:Predictions for FunAlwaysLong683 wrote: Here are my hunches on what will be stated by management during the Investor Day presentation slated to begin about 1 hour from now:
1) Dividend cut will be announced. My guess would be between 25% and 50%.
2) A revised application will be made to FERC to try and get the OK on the Kentucky Power deal.
3) A generic statement on "Asset Recycling" (i.e., asset sales) will be made in which a target range of total proceeds will be given, perhaps along with a flexible timeframe (e.g., "up to ?B dollars over the next __ to ___ months"). No specifics will be revealed as to which assets in particular, but AQN may state that most / all will come from the power portfolio.
Wildcard:
Banskota (CEO) or Myers (CFO) announces he will be stepping down and replaced either internally or via executive search outside the company at some point this year. Long odds on this one, but it wouldn't surprise me either.
Let's see what happens.
1) (page 12)
Algonquin intends to lower the quarterly dividend to $0.1085.
Current Quarterly Dividend: $0.1808.
Cut of 40%
2) (page 6)
On December 15, 2022, FERC denied the FERC 203 application for the Kentucky Power Acquisition without prejudice.
The parties intend to continue to seek FERC approval.
3) (page 13)
Targeting announcement of appoximately $1B in asset sales in 2023.
Let the trading frenzy begin at market open today.