Dallas, Texas 09/10/2013 (Financialstrend) – Primarily engaged in provision of natural gas and electricity to commercial as well as residential consumers, Just Energy Group, Inc. Ordinary Shares (Canada) (NYSE:JE) also provides green products, solar project development platforms, carbon offset credits alongside selling and renting out air conditioners, furnaces, smart thermostats and water heaters. It offers its products and services under the Just Energy, Just Green, Just Clean, Hudson Energy, Hudson Energy Solar, Tara Energy, Amigo Energy, Smart Prepaid Electric and Commerce Energy trade names in Canada and the United States.
In its previous trading session on Monday, the stock closed at $6.55 (2.50%), and is trading around 8% below its 200-day SMA.
JE recently announced monthly dividend payout of $0.07 Canadian per share scheduled to be paid on September 30 – in-line with what it is paying for last three months. The annual dividend yield counts at 12.82% at the current stock price of $6.55. A dividend will be paid to holders of record as on September 16, 2013.
The company mentioned that Canadian and the US investors with a minimum of 100 shares can avail its Dividend Reinvestment and Share Purchase Plan (DRIP) to automatically purchase additional common shares of JE directly through DRIP Administrator and JE’s Stock Transfer Agent.
The company also noted this as a convenient and cost-effective mode of reinvestment as investors need not incur any brokerage fees, services charges or commissions to buy shares under the said plan. Investors can enroll in the plan by filling enrollment forms online or by mailing a form to Dividend Reinvestment Department of Computershare, company’s Stock Transfer Agent.
Earlier last month company announced its 1Q14 results for quarter ended June 30, 2013 reporting 9% addition in customer base and 12% growth in embedded gross margin year-over-year. The 10% decrease in selling and marketing expenses along with growth aided the improved profitability.