DALLAS - Atmos Energy Corporation (NYSE: NYSE:ATO), a leading natural gas distributor, announced that its Board of Directors has declared a quarterly dividend of 80.5 cents per share on the company's common stock. This dividend is part of an indicated annual payout of $3.22 per share.
The upcoming dividend is scheduled to be paid on June 10, 2024, with shareholders on record by May 28, 2024, eligible for the payment. This marks the 162nd consecutive quarterly dividend provided by the company to its shareholders.
As the largest natural gas-only distributor in the country, Atmos Energy delivers to over 3 million distribution customers in more than 1,400 communities across eight states, primarily in the South.
The company is recognized for its commitment to safety, innovation, environmental sustainability, and community investment. Atmos Energy also manages significant pipeline and storage assets, including a major intrastate natural gas pipeline system in Texas.
InvestingPro Insights
Atmos Energy Corporation (NYSE: ATO) continues to show its commitment to shareholder returns with the announcement of its latest quarterly dividend. For investors interested in the company's financial health and market performance, InvestingPro provides several key metrics and tips.
With a market capitalization of $18.19 billion, Atmos Energy is a significant player in the natural gas distribution market. The company's P/E ratio stands at 19.13, which indicates a higher valuation compared to near-term earnings growth. However, this is coupled with a history of consistent dividend payments, as Atmos Energy has raised its dividend for 42 consecutive years, showcasing its commitment to shareholder value.
InvestingPro Data also reveals that the company has a strong financial foundation, with liquid assets that exceed short-term obligations. This is further supported by a dividend yield of 2.68% as of the latest data, which is attractive for income-focused investors. Additionally, Atmos Energy's stock has been trading near its 52-week high, with a price 96.2% of the high, reflecting investor confidence and potentially limited upside from current levels.
For those looking to delve deeper into Atmos Energy's financials and future prospects, InvestingPro offers additional InvestingPro Tips. There are 9 more tips available that could provide valuable insights into the company's performance and strategies. To access these tips and more detailed analytics, visit https://www.investing.com/pro/ATO and remember to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.