Black Hills (BKH) Declares $0.62 Dividend

Black Hills said on April 24, 2023 that its board of directors declared a regular quarterly dividend of $0.62 per share ($2.50 annualized). Previously, the company paid $0.62 per share.

Shares must be purchased before the ex-div date of May 17, 2023 to qualify for the dividend. Shareholders of record as of May 18, 2023 will receive the payment on June 1, 2023.

At the current share price of $65.15 / share, the stock's dividend yield is 3.84%. Looking back five years and taking a sample every week, the average dividend yield has been 3.28%, the lowest has been 2.47%, and the highest has been 4.18%. The standard deviation of yields is 0.40 (n=237).

The current dividend yield is 1.37 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.64. 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 0.17%, demonstrating that it has increased its dividend over time.

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What is the Fund Sentiment?

There are 729 funds or institutions reporting positions in Black Hills. This is a decrease of 5 owner(s) or 0.68% in the last quarter. Average portfolio weight of all funds dedicated to BKH is 0.31%, an increase of 23.39%. Total shares owned by institutions increased in the last three months by 2.98% to 77,160K shares. The put/call ratio of BKH is 1.04, indicating a bearish outlook.

Analyst Price Forecast Suggests 3.78% Upside

As of April 23, 2023, the average one-year price target for Black Hills is 67.61. The forecasts range from a low of 60.60 to a high of $80.85. The average price target represents an increase of 3.78% from its latest reported closing price of 65.15.

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The projected annual revenue for Black Hills is 2,239MM, a decrease of 12.26%. The projected annual non-GAAP EPS is 4.23.

What are Other Shareholders Doing?

SDY - SPDR(R) S&P(R) Dividend ETF holds 4,175K shares representing 6.30% ownership of the company. In it's prior filing, the firm reported owning 3,558K shares, representing an increase of 14.79%. The firm increased its portfolio allocation in BKH by 4.50% over the last quarter.

Macquarie Group holds 2,546K shares representing 3.84% ownership of the company. In it's prior filing, the firm reported owning 2,601K shares, representing a decrease of 2.17%. The firm decreased its portfolio allocation in BKH by 2.19% over the last quarter.

IJH - iShares Core S&P Mid-Cap ETF holds 2,010K shares representing 3.03% ownership of the company. In it's prior filing, the firm reported owning 1,902K shares, representing an increase of 5.37%. The firm decreased its portfolio allocation in BKH by 4.21% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,983K shares representing 2.99% ownership of the company. In it's prior filing, the firm reported owning 1,953K shares, representing an increase of 1.48%. The firm decreased its portfolio allocation in BKH by 2.65% over the last quarter.

SMCWX - SMALLCAP WORLD FUND INC holds 1,889K shares representing 2.85% ownership of the company. In it's prior filing, the firm reported owning 1,215K shares, representing an increase of 35.69%. The firm increased its portfolio allocation in BKH by 50.93% over the last quarter.

Black Hills Background Information
(This description is provided by the company.)

Black Hills Corp. is a customer focused, growth-oriented utility company with a tradition of improving life with energy and a vision to be the energy partner of choice. Based in Rapid City, South Dakota, the company serves 1.3 million natural gas and electric utility customers in eight states: Arkansas, Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota and Wyoming.

This story originally appeared on Fintel.