AltaGas raising quarterly dividend six per cent to 28 cents per share

A pumpjack draws out oil and gas from a well head as the sun sets near Calgary, Alta., Sunday, Oct. 9, 2022. Jeff McIntosh, THE CANADIAN PRESS

AltaGas Ltd. is raising its dividend by six per cent.

The energy infrastructure company says it will pay a quarterly dividend of 28 cents per share, up from 26.5 cents per share.

The increased payment to shareholders came as AltaGas says it expects normalized earnings per share of $1.85 to $2.05 in 2023.

The result was forecast along with expectations for normalized earnings before interest, taxes, depreciation and amortization of $1.5 billion to $1.6 billion next year.

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AltaGas says its capital program for 2023 is expected to total about $930 million, excluding asset retirement obligations.

The company also expects about $90 million of capital investments that were approved in 2022 to be spent in early 2023.

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