01:44 PM EST, 11/13/2025 (MT Newswires) -- (Adds detail and updates shares.)

Northland Power (NPI.TO) shares were last seen down 27% after the renewable power producer overnight Wednesday reported a wider third-quarter loss despite higher revenue and cut its dividend by 40%.

The company a loss attributable to shareholders of $412.67 million, or $1.58 per share, compared to a loss of $178.16 million, or $0.70, in the corresponding year-ago quarter.

Northland attributed the wider loss to higher finance and development costs, a $140-million fair-value charge and a $527-million non-cash impairment charge for its Nordsee One offshore wind facility

Third-quarter revenue from energy sales was $554.5 million compared to $490.5 million in the same quarter of 2024. The consensus estimates compiled by FactSet for revenue was $526.7 million.

Northland also said its board of directors approved a cut to its annual dividend to $0.72 per share from $1.20. The change will be applicable to the payout made Jan. 15, 2026, to shareholders of record on Dec. 31, 2025.

"As part of Northland's strategy, we have assessed growth opportunities in our core markets in Canada and Europe. We see multiple value-accretive opportunities where Northland's capabilities can be deployed to deliver long-term value for shareholders. To provide greater financial flexibility for self-funded growth while maintaining an investment grade balance sheet, the Board of Directors has decided to adjust Northland's dividend to $0.72 per share on an annual basis. We are committed to this sustainable dividend and we look forward to providing our plan and outlook to the market at our upcoming Investor Day," chief executive Christine Healy said.

The company further said that management's 2025 financial outlook remains unchanged from the revised guidance issued on Aug. 13, including expected adjusted EBITDA in the range of $1.2 billion to $1.3 billion and free cash flow per share to be in the range of $1.15 to $1.35.

Northland shares were last seen down $6.81 to $18.26 on the Toronto Stock Exchange.

Price: 18.29, Change: -6.78, Percent Change: -27.04