AES (AES) Declares $0.17 Dividend
AES said on February 24, 2023 that its board of directors declared a regular quarterly dividend of $0.17 per share ($0.66 annualized). Shareholders of record as of May 1, 2023 will receive the payment on May 15, 2023. Previously, the company paid $0.17 per share.
At the current share price of $24.68 / share, the stock's dividend yield is 2.69%. Looking back five years and taking a sample every week, the average dividend yield has been 3.13%, the lowest has been 2.11%, and the highest has been 5.22%. The standard deviation of yields is 0.69 (n=237).
The current dividend yield is 0.64 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is -0.81. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.16%, demonstrating that it has increased its dividend over time.
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Analyst Price Forecast Suggests 29.36% Upside
As of March 1, 2023, the average one-year price target for AES is $31.93. The forecasts range from a low of $30.30 to a high of $34.65. The average price target represents an increase of 29.36% from its latest reported closing price of $24.68.
The projected annual revenue for AES is $11,998MM, a decrease of 4.91%. The projected annual EPS is $1.77.
What is the Fund Sentiment?
There are 1416 funds or institutions reporting positions in AES. This is an increase of 68 owner(s) or 5.04% in the last quarter. Average portfolio weight of all funds dedicated to AES is 0.33%, an increase of 2.76%. Total shares owned by institutions increased in the last three months by 1.00% to 796,644K shares. The put/call ratio of AES is 0.20, indicating a bullish outlook.
What are large shareholders doing?
Capital World Investors holds 69,444K shares representing 10.40% ownership of the company. In it's prior filing, the firm reported owning 67,969K shares, representing an increase of 2.12%. The firm increased its portfolio allocation in AES by 23.45% over the last quarter.
Capital International Investors holds 62,298K shares representing 9.33% ownership of the company. In it's prior filing, the firm reported owning 61,599K shares, representing an increase of 1.12%. The firm increased its portfolio allocation in AES by 18.44% over the last quarter.
ANCFX - AMERICAN FUNDS FUNDAMENTAL INVESTORS holds 35,632K shares representing 5.33% ownership of the company. In it's prior filing, the firm reported owning 34,632K shares, representing an increase of 2.81%. The firm increased its portfolio allocation in AES by 21.06% over the last quarter.
Ameriprise Financial holds 20,859K shares representing 3.12% ownership of the company. In it's prior filing, the firm reported owning 18,644K shares, representing an increase of 10.62%. The firm increased its portfolio allocation in AES by 33.95% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 19,891K shares representing 2.98% ownership of the company. In it's prior filing, the firm reported owning 19,677K shares, representing an increase of 1.07%. The firm increased its portfolio allocation in AES by 13.34% over the last quarter.
AES Background Information
(This description is provided by the company.)
The AES Corporation is a Fortune 500 company that generates and distributes electrical power. AES is headquartered in Arlington, Virginia, and is one of the world's leading power companies, generating and distributing electric power in 15 countries and employing 10,500 people worldwide. The company was founded on January 28, 1981, as Applied Energy Services by Roger Sant and Dennis Bakke, two appointees of the Federal Energy Administration under president Richard Nixon. The company was initially a consulting firm; it became AES Corporation, which went public in 1991. Sant was chairman, CEO, and president and Bakke was executive vice president until assuming the position of president in 1987. Bakke would later become the company's CEO in 1994, serving for 8 years until his resignation in 2002, in the midst of a liquidity crisis that followed the collapse of the energy giant Enron. Sant remained as executive chairman until 2003 and as a member of the board until 2006. Paul Hanrahan was appointed President and CEO and served for 10 years, overseeing the stabilization of the company. Until the early 2000’s the company followed self management delegating much responsibility to ordinary employees. In 2012, Hanrahan resigned, his position as President and CEO of the company succeeded by Andres Gluski. As CEO, Gluski has implemented a strategy of reducing the number of countries in which AES does business, from 28 to 16, for the purpose of consolidating operations and reducing costs. Additionally, he also began a program of reducing the company's total carbon emission intensity.
This story originally appeared on Fintel.