Members of the investment community and other interested parties may dial 1-647-427-7450 or toll-free at 1-888-231-8191. In addition to the export terminal, Petrogas operates storage terminals, facilities that produce drilling fluids, jet fuel, furnace fuel and heating oil, and trucking and rail divisions. However, it’s an appropriate time to have AltaGas and Idemitsu assume full ownership of the company. “The Ferndale LPG export terminal and wharf are located on the west coast in Washington State , which provides the same structural advantage related to reduced shipping days to Asian markets as RIPET, and has capacity to export in excess of 50,000 Bbls/d of combined butane and propane.

As our LPG exports increase, so will our positive impact as a company that provides optionality to global markets for affordable and cleaner energy sources that are capable of reducing global carbon emissions.

More ». EBITDA is a measure of AltaGas’ operating profitability prior to how business activities are financed, assets are amortized, or. The transaction is subject to clearance under the Competition Act ( Canada ) and the Canada Transportation Act . This acquisition is consistent with our global export strategy, growing Midstream operations, and corporate focus on building a diversified, low-risk, high-growth Utilities and Midstream business that is set to deliver resilient, durable and compounding value for our stakeholders.

Upon closing AltaGas plans to fully consolidate Petrogas’ financial results, where previously the Company only captured Petrogas’ historical performance through an equity pick up via AltaGas’ non-controlling interest and preferred dividends. Here Are the 3 Best Stocks You Can Buy, 3 Stocks Under $20 Offering Explosive Potential Gains, 4 Top TSX Dividend Stocks to Buy in September.

More », If you're looking for passive income during this downturn, definitely add these three to your watch list! Normalized earnings per share is calculated as normalized net income divided by the average number of shares outstanding during the period.

Post-closing, AltaGas’ indirect ownership in Petrogas will increase to approximately 74% with Idemitsu Kosan Co., Ltd. (“Idemitsu”) owning the remaining approximate 26%.

More », Going into October, these three TSX stocks offer investors the most bang for your buck. The webcast will be archived for one year. This news release contains references to certain financial measures that do not have a standardized meaning prescribed by US GAAP and may not be comparable to similar measures presented by other entities. Over the trailing twelve months as of June 30, 2020 normalized EBITDA was approximately $218 million .

This consideration includes the acquisition of 4,751,733 shares of Petrogas and incorporates working capital normalization and certain other factors.

Crawford added that Petrogas has generated average adjusted earnings of about $186 million per year over the past three years. More », These stocks could continue to do well irrespective of where the market moves.

More », The stable earnings and strong cash flows of these companies indicate that their payouts are very safe. AltaGas Ltd. says it has agreed to pay $715 million in cash to privately held SAM Holdings Ltd. to double its ownership share in oil and gas liquids handling firm Petrogas Energy Corp. to 74 per cent.

Readers are cautioned that these non-GAAP measures should not be construed as alternatives to other measures of financial performance calculated in accordance with US GAAP. High Dividend Yield Utility Stocks: Where to Invest $1,000 Now?