AES (AESC) Declares $1.72 Dividend
AES said on April 13, 2023 that its board of directors declared a regular quarterly dividend of $1.72 per share ($6.88 annualized). Previously, the company paid $1.72 per share.
Shares must be purchased before the ex-div date of May 11, 2023 to qualify for the dividend. Shareholders of record as of May 12, 2023 will receive the payment on May 15, 2023.
At the current share price of $90.84 / share, the stock's dividend yield is 7.57%. Looking back five years and taking a sample every week, the average dividend yield has been 7.16%, the lowest has been 6.28%, and the highest has been 8.50%. The standard deviation of yields is 0.51 (n=99).
The current dividend yield is 0.80 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is -8.42. 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 has not increased its dividend in the last three years.
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What is the Fund Sentiment?
There are 120 funds or institutions reporting positions in AES. This is a decrease of 9 owner(s) or 6.98% in the last quarter. Average portfolio weight of all funds dedicated to AESC is 0.45%, a decrease of 1.28%. Total shares owned by institutions decreased in the last three months by 5.31% to 12,756K shares.
Analyst Price Forecast Suggests 30.50% Upside
As of April 6, 2023, the average one-year price target for AES is $118.55. The forecasts range from a low of $113.19 to a high of $129.44. The average price target represents an increase of 30.50% from its latest reported closing price of $90.84.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for AES is $11,998MM, a decrease of 4.91%. The projected annual non-GAAP EPS is $1.77.
What are Other Shareholders Doing?
CNSAX - Invesco Convertible Securities Fund holds 100K shares representing 0.01% ownership of the company. No change in the last quarter.
Palisade Capital Management holds 64K shares representing 0.01% ownership of the company. In it's prior filing, the firm reported owning 40K shares, representing an increase of 37.50%. The firm increased its portfolio allocation in AESC by 76.11% over the last quarter.
PCONX - PUTNAM CONVERTIBLE SECURITIES FUND Class C Shares holds 79K shares representing 0.01% ownership of the company. No change in the last quarter.
CALAMOS ADVISORS TRUST holds 2K shares representing 0.00% ownership of the company. No change in the last quarter.
John Hancock Premium Dividend Fund holds 150K shares representing 0.02% ownership of the company. No change in the last quarter.
AES Background Information
(This description is provided by the company.)
The AES Corporation is an American utility and power generation company. It owns and operates power plants, which it uses to generate and sell electricity to end users and intermediaries like utilities and industrial facilities.
This story originally appeared on Fintel.