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Algonquin Power to move headquarters to Chicago, reports US$4.9M profit in Q2
['The Canadian Press']
Winnipeg Free Press
OAKVILLE – Algonquin Power & Utilities Corp. is shifting its headquarters south of the border to Chicago.
The Oakville, Ont.-based company says it will maintain a significant presence in Canada but move its head office to Illinois, where senior executives will be based.
More than 80 per cent of its operations are in the U.S. and less than five per cent are in Canada.
The announcement came as Algonquin reported a second-quarter profit of US$4.9 million, which compared with US$14.8 million in net earnings attributable to common shareholders a year ago.
On an adjusted basis, Algonquin earned four cents US per share in its latest quarter, unchanged from its previous second quarter.