Activist Starboard prepares the groundwork to reduce leverage and build value at Algonquin Power
Publishing timestamp: 2023-07-08 08:59:06
Summary
Activist investor Starboard has taken a 7.5% interest in Algonquin Power and is urging the company to sell its renewables business to reduce leverage and provide a safer dividend. The article discusses the potential benefits of this move and criticizes the company's previous acquisition. It also mentions the opportunity for Algonquin Power to increase its percentage of renewables in the future.
Sentiment: MIXED
Keywords: investment strategy, algonquin power & utilities corp, business news, s&p 500 index, hedge funds, breaking news: investing,