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Ameren Raises Dividend by 7%, Despite Mixed Q4 Performance

Ameren Corporation (AEE) is a power provider that serves 2.4 million electric customers and more than 900,000 natural gas customers in a 64,000 square mile radius in Missouri and Illinois.

The company generated 80% of its revenue from electric customers and 20% of its revenue from natural gas customers during the fourth quarter of 2020. Within its electricity business, the company generated 61% of its revenue from Missouri, 31% of its revenue from Illinois and the remainder of its revenue from transmission.

In terms of its energy mix, the company generated 67.3% of its energy from coal, 19.4% from nuclear and the remainder from hydroelectric and other sources.

Mixed Q4 Financial Results

Ameren Corporation reported fourth-quarter revenue that rose by 0.8% to $1.33 billion, missing consensus estimates by $70 million, with GAAP earnings of 46 cents per share, beating consensus estimates by four cents. Management expects FY2021 diluted earnings to be between $3.65 and $3.85 per share.

The company raised its quarterly dividend by 6.8% to $0.55 per share, which represents a 3.09% forward yield. The dividend is payable on March 31, 2021 to shareholders on record as of March 10, 2021.

With seven consecutive years of dividend increases and a 59% forward payout ratio, the company is well positioned to continue delivering a strong yield to investors.

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