Otter Tail Corporation (OTTR) will raise its quarterly dividend by 5.8 percent to 41.25 cents per share in 2022. This comes after a dividend hike of 5.4 percent to 39 cents per share in 2021 and marks 9 straight years of increases.

The next Otter Tail dividend is payable on March 10, 2022 with an ex-dividend date of February 14, 2022 for OTTR shareholders. A new annual dividend rate of $1.65 per share yields 2.7% at a stock price of $60.66. Otter Tail currently has a market cap of $2.5 billion and pays $69 million in dividends annually.

Otter Tail Corporation, through its subsidiaries, operates through three segments: Electric, Manufacturing and Plastics. The Company is engaged in the production, transmission, distribution and sale of electric energy in Minnesota, North Dakota and South Dakota. The Company's subsidiaries own facilities and equipment used for producing polyvinyl chloride (PVC) pipe, thermoformed products, heavy metal fabricated products, metal parts stamping, fabricating, painting and contract machining.