07:10 AM EST, 12/03/2024 (MT Newswires) -- AltaGas ( ATGFF ) on Tuesday forecast that it will hit 2025 normalized earnings per share of $2.10 to $2.30 and raised its common share dividend by 6%.

The EPS guidance at the midpoint is about 2% above the 2024 figure.

The company also announced normalized EBITDA guidance of $1.78 billion to $1.88 billion. The guidance represents about 6% growth at the midpoint. Growth will be driven by asset modernization investments in the utilities segment and improved utilization in the midstream segment, the company said.

"The potential of AI and datacenter demand for natural gas in Northern Virginia adds to this already robust outlook and reiterates the long-term need for safe, reliable, and affordable natural gas to keep society moving forward," said AltaGas ( ATGFF ) President and CEO Vern Yu.

The company's 2025 capital program is expected to be $1.4 billion, with more than half allocated to the utilities segment. About 45% will fund long-term midstream projects. The remaining budget will be used on digital and systems initiatives to improve operating efficiency.

AltaGas ( ATGFF ) also increased its dividend to $1.26 per common share per year. The company extended its 5%-7% compounded annual growth rate guidance on dividends to 2029.