07:08 AM EST, 11/07/2025 (MT Newswires) -- Algonquin Power & Utilities ( AQNB ) on Friday reported a 10% year-over-year increase in adjusted net earnings in the third quarter, driven by higher earnings from its regulated services group.

Adjusted net earnings was US$71.7 million, or $0.09 per share, up from $64.9 million, or $0.08 per share. The result exceeded the $0.06 third-quarter earnings per share consensus estimate compiled by FactSet.

Net earnings for the regulated services group rose 61% to $104.1 million, offsetting an 11% decline in hydro group net earnings and a 77% drop in corporate group net earnings.

The company attributed the increase in regulated services group earnings to implementation of approved rates, favorable weather and low operating expenses.

Meanwhile, corporate group earnings were impacted by the sale of Algonquin's ownership stake in Atlantica Sustainable Infrastructure in the fourth quarter of 2024 and the loss of related dividends.

Algonquin declared a fourth-quarter 2025 dividend of $0.0650 per common share, payable Jan 15, 2026, to shareholders of record on Dec. 31, 2025. Registered shareholders can elect to receive the dividend in Canadian dollars in the amount of C$0.0918.

The company appointed Robert Stefani as CFO, effective Jan. 5, 2026. Stefani previously served as senior vice president and CFO of Southwest Gas Holdings.

Stefani will succeed Brian Chin, who will remain interim CFO until Jan. 5, 2026.