AltaGas delivers strong fourth quarter results, achieves 2019 guidance and enters 2020 focused on operations and growth in its Utilities and Midstream businesses

CALGARY, Feb. 28, 2020 /CNW/ – AltaGas Ltd. (AltaGas or the Company) (TSX: ALA) today reported fourth quarter and full-year 2019 financial results. AltaGas also reaffirmed its 2020 outlook and provided an update on its business and near-term priorities, which remain on track.

HIGHLIGHTS

(all financial figures are unaudited and in Canadian dollars unless otherwise noted)

Normalized EBITDA1 was $425 million for the fourth quarter and $1.271 billion for the full-year, a 26 percent year-over-year increase

… Continue Reading

CALGARY, Feb. 10, 2020 /CNW/ – AltaGas Ltd. (“AltaGas”) (TSX: ALA) announced today that the February dividend will be paid on March 16, 2020, to common shareholders of record on February 25, 2020. The ex-dividend date is February 24, 2020. The amount of the dividend will be $0.08 for each common share. This dividend is an eligible dividend for Canadian income tax purposes.

AltaGas is a leading North American energy infrastructure company with a focus on regulated Utilities, Midstream and Power. AltaGas creates value by growing and optimizing its energy infrastructure, including a focus on clean … Continue Reading

CALGARY, Feb. 6, 2020 /CNW/ – AltaGas Ltd. (“AltaGas”) (TSX: ALA) will release its 2019 fourth quarter and year-end financial results on Friday, February 28, 2020 before markets open. A conference call and webcast will be held the same day to discuss the financial results and other corporate developments.

Time:

9:00 a.m. MT (11:00 a.m. ET)

Dial-in:

1-647-427-7450 or toll free at 1-888-231-8191

Webcast:

https://www.altagas.ca/invest/events-and-presentations

Shortly after the conclusion of the call, a replay will be available commencing at 12:00 p.m. MT (2:00 p.m. ET) on February 28, 2020 by dialing 403-451-9481 or toll free 1-855-859-2056. The … Continue Reading

CALGARY, Jan. 10, 2020 /CNW/ – AltaGas Ltd. (“AltaGas”) (TSX: ALA) announced today that the January dividend will be paid on February 17, 2020, to common shareholders of record on January 27, 2020. The ex-dividend date is January 24, 2020. The amount of the dividend will be $0.08 for each common share. This dividend is an eligible dividend for Canadian income tax purposes.

As previously announced, AltaGas has suspended its Premium Dividend™, Dividend Reinvestment and Optional Cash Purchase Plan (the “Plan”) indefinitely. The January dividend will not be eligible for reinvestment under the Plan.

AltaGas is … Continue Reading

CALGARY, Jan. 8, 2020 /CNW/ – AltaGas Ltd. (AltaGas) (TSX: ALA) announces the appointment of two new Independent Directors – Linda Sullivan and Nancy Tower to its Board of Directors effective today.  In addition, AltaGas announces the retirement of Daryl Gilbert from the Board to be effective following the conclusion of AltaGas’ next annual meeting of shareholders to be held in May this year.

Following Mr. Gilbert’s planned retirement, AltaGas’ Board will once again be comprised of 11 directors with complementary expertise to support AltaGas’ business.

Ms. Sullivan has nearly three decades of U.S. utility finance and regulatory experience.  … Continue Reading

CALGARY, Jan. 2, 2020 /CNW/ – AltaGas Ltd. (AltaGas) (TSX: ALA) advises that AltaGas Idemitsu Joint Venture Limited Partnership (AIJV) has received notice (the Put Notice) from SAM Holdings Ltd. (SAM) of its exercise of a put option (the Put Option) with respect to SAM’s approximately 1/3 interest in Petrogas Energy Corp. (Petrogas). AIJV, a limited partnership owned 50 percent by AltaGas and 50 percent by Idemitsu Kosan Co., Ltd. (Idemitsu), owns the other approximately 2/3 of the outstanding common shares of Petrogas. AIJV is currently evaluating the Put Notice.

Pursuant to the Petrogas unanimous shareholders agreement, a valid … Continue Reading

Strong earnings growth in 2020 driven by considerable growth in Utilities and Midstream businesses and significantly lower leverage

CALGARY, Dec. 17, 2019 /CNW/ – AltaGas Ltd. (AltaGas or the Company) (TSX: ALA) announces 2020 guidance, the suspension of its Dividend Reinvestment Program (DRIP), provides an update on its 2020 strategic plan and reaffirms its 2019 guidance.

HIGHLIGHTS

Announced 2020 financial guidance: normalized EPS1 in the range of $1.20 – $1.30 per share and normalized EBITDA1 in the range of $1,275 – $1,325 million underpinned by increasing contributions from its core businesses and lower interest expense due to lower leverage.

… Continue Reading

CALGARY, Dec. 16, 2019 /CNW/ – AltaGas Ltd. (“AltaGas”) (TSX:ALA) today announced that it has completed its aggregate issue of $500 million of senior unsecured medium term notes (the “Notes”) with a coupon rate of 2.609 percent, maturing on December 16, 2022 (the “Offering”).

The net proceeds resulting from the Offering will be used to pay down existing indebtedness under AltaGas’ credit facility and for general corporate purposes.  As a result, AltaGas expects that the Offering will be leverage neutral.  Additionally, because the coupon rate of the Notes is lower than the borrowing rate of the existing debt, AltaGas … Continue Reading

CALGARY, Dec. 12, 2019 /CNW/ – AltaGas Ltd. (“AltaGas”) (TSX: ALA) today announced that it has agreed to issue $500 million of senior unsecured medium-term notes (the “Notes”) with a coupon rate of 2.609 percent, maturing on December 16, 2022 (the “Offering”).

The Offering is expected to close on or about December 16, 2019. The net proceeds resulting from the Offering will be used to pay down existing indebtedness under AltaGas’ credit facility and for general corporate purposes. 

The Offering is being made through a syndicate of investment dealers co-led by BMO Nesbitt Burns Inc. and CIBC World … Continue Reading

Report outlines ongoing efforts to improve operational performance, minimize its environmental footprint and deliver social value     

CALGARY, Dec. 11, 2019 /CNW/ – AltaGas Ltd. (AltaGas) (TSX: ALA) today released its inaugural Environmental, Social & Governance (ESG) Report, highlighting the company’s 2018 performance in several key areas relevant to the long-term sustainability of its business, and demonstrating its ongoing commitment to transparency.

“Through investment, innovation and strong partnerships, we are delivering affordable and efficient energy solutions that help address the world’s complex energy challenges,” said Randy Crawford, President and Chief Executive Officer, AltaGas. “This report outlines our commitment to … Continue Reading

CALGARY, Dec. 10, 2019 /CNW/ – AltaGas Ltd. (“AltaGas”) (TSX: ALA) announced today that the December dividend will be paid on January 15, 2020, to common shareholders of record on December 27, 2019. The ex-dividend date is December 24, 2019. The amount of the dividend will be $0.08 for each common share. This dividend is an eligible dividend for Canadian income tax purposes.

AltaGas has a Premium Dividend™, Dividend Reinvestment and Optional Cash Purchase Plan (the “Plan”) for eligible shareholders of AltaGas. Eligible shareholders who are enrolled in the Plan may have their common share dividends … Continue Reading

Company remains on track to achieve 2019 guidance

CALGARY, Oct. 30, 2019 /CNW/ – 

HIGHLIGHTS

(all financial figures are unaudited and in Canadian dollars unless otherwise noted)

Normalized EBITDA1 was $178 million, compared to $226 million in the prior year, with strong contributions from the Ridley Island Propane Export Terminal (RIPET) ($37 million) being more than offset by EBITDA lost due to asset sales ($93 million) and a one-time adjustment related to the Hearing Examiner’s report in Virginia pertaining primarily to the return of excess deferred taxes ($30 million).

Excluding the impact

… Continue Reading