All News Releases
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Otter Tail Corporation Reports 2009 Financial Results and Issues 2010 Earnings Guidance; Board Declares Quarterly Dividend
Feb 8, 2010
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FERGUS FALLS, Minn., Feb. 8, 2010 (GLOBE NEWSWIRE) -- Otter Tail Corporation (Nasdaq:OTTR) today announced financial results for the fourth quarter and year ended December 31, 2009.2009 Summary:
Diluted earnings per share were $0.71 compared with $1.09 in 2008.
Consolidated revenues decreased to $1.0 billion from a record $1.3 billion in 20...
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Otter Tail Corporation Announces Closing of Public Offering of Senior Unsecured Notes
Dec 4, 2009
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FARGO, N.D., Dec. 4, 2009 (GLOBE NEWSWIRE) -- Otter Tail Corporation (Nasdaq:OTTR) announced today the closing of an offering of $100 million of its 9.000% Notes due 2016. The Notes will be senior unsecured obligations of Otter Tail Corporation. Otter Tail Corporation intends to use the net proceeds of the offering to reduce borrowings under its re...
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Otter Tail Corporation Announces Public Offering of Senior Unsecured Notes
Nov 30, 2009
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FARGO, N.D., Nov. 30, 2009 (GLOBE NEWSWIRE) -- Otter Tail Corporation (Nasdaq:OTTR) announced today that it intends to offer a new series of notes in an underwritten registered public offering. The notes will be senior unsecured obligations of Otter Tail Corporation. The aggregate principal amount, maturity and interest rate of the notes will be de...
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Otter Tail Corporation Announces Third Quarter Earnings; Board of Directors Declares Dividend
Oct 29, 2009
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FERGUS FALLS, Minn., Oct. 29, 2009 (GLOBE NEWSWIRE) -- Otter Tail Corporation (Nasdaq:OTTR) today announced financial results for the quarter ended September 30, 2009.
Highlights
* Consolidated net income improved 10.0% as net income in our
electric and food ingredient processing segments increased $3.0
million and $2.8 million, ...
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Otter Tail Power Company Announces Withdrawal From Big Stone II
Sep 11, 2009
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FERGUS FALLS, Minn., Sept. 11, 2009 (GLOBE NEWSWIRE) -- Otter Tail Power Company today announced its withdrawal -- both as a participating utility and as the project's lead developer -- from Big Stone II, a 500-to-600-megawatt coal-fired power plant proposed for near Milbank, South Dakota, with related transmission upgrades in South Dakota and Minn...
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Otter Tail Corporation Announces Second Quarter Earnings; Revises 2009 Earnings Guidance; Board of Directors Declares Dividend
Aug 3, 2009
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FERGUS FALLS, Minn., Aug. 3, 2009 (GLOBE NEWSWIRE) -- Otter Tail Corporation (Nasdaq:OTTR) today announced financial results for the quarter ended June 30, 2009.
Highlights
* The corporation generated operating cash flow of $90.3 million for
the six months ended June 30, 2009, a $55.4 million increase over
the same period in 20...
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Otter Tail Corporation Completes Holding Company Transition
Jul 1, 2009
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FARGO, N.D., July 1, 2009 (GLOBE NEWSWIRE) -- Otter Tail Corporation (Nasdaq:OTTR) has completed its transition to a holding company structure effective July 1, 2009. As a part of the transition, newly formed Otter Tail Corporation will function as a holding company with two principal subsidiaries, Otter Tail Power Company and Varistar Corporation....
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Otter Tail Corporation Expects to Complete Holding Company Transition On July 1, 2009
Jun 24, 2009
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FARGO, N.D., June 24, 2009 (GLOBE NEWSWIRE) -- Otter Tail Corporation (Nasdaq:OTTR) expects to complete its transition to a holding company on July 1, 2009. As previously announced, Otter Tail Corporation has been preparing for a transition to a holding company structure that will result in Otter Tail Power Company becoming a separate legal entity ...
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Otter Tail Corporation Names Vice President, Corporate Communications and Public Affairs
May 27, 2009
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FARGO, N.D., May 27, 2009 (GLOBE NEWSWIRE) -- Otter Tail Corporation (Nasdaq:OTTR) has hired Michael J. Olsen to be Vice President, Corporate Communications and Public Affairs. Olsen, a senior corporate communications consultant and president of Michael J. Olsen Communications since 2004, will begin his duties on June 8.
In this newly created po...
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Otter Tail Power Company to Build Wind Farm in 2009
May 22, 2009
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FERGUS FALLS, Minn., May 22, 2009 (GLOBE NEWSWIRE) -- Otter Tail Power Company, a division of Otter Tail Corporation (Nasdaq:OTTR), announced today that it will build a wind farm near Lake Ashtabula in North Dakota. Construction will commence in late May on the 49.5-megawatt wind farm and related infrastructure. The company anticipates that the pro...
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Otter Tail Corporation Announces First Quarter Earnings; Lowers 2009 Earnings Guidance; Board of Directors Declares Dividend
May 4, 2009
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FERGUS FALLS, Minn., May 4, 2009 (GLOBE NEWSWIRE) -- Otter Tail Corporation (Nasdaq:OTTR) today announced financial results for the quarter ended March 31, 2009.
Highlights
* The corporation generated operating cash flow of $21.9 million for
the first quarter of 2009, a $14.5 million increase over the first
quarter of 2008.
* C...
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Otter Tail Corporation Held 2009 Annual Shareholder Meeting
Apr 20, 2009
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FERGUS FALLS, Minn., April 20, 2009 (GLOBE NEWSWIRE) -- Otter Tail Corporation hosted 404 shareholders and guests at its annual meeting of common shareholders on Monday, April 20, in Fergus Falls, Minnesota. Represented by proxy or present in person at the meeting were nearly 85 percent of the corporation's total shares outstanding. Shareholders re...
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Otter Tail Corporation Unveils 100-Year Anniversary Painting
Apr 20, 2009
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FERGUS FALLS, MINNESOTA - As part of the celebration of Otter Tail Power Company's 100-year anniversary of power generation, the utility's parent Otter Tail Corporation today unveiled a painting by award-winning wildlife artist and Otter Tail Power Company employee Jeffrey Hoff. The painting depicts two otters on the Otter Tail River in v...
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Otter Tail Corporation Reports 2008 Financial Results; Board Declares Quarterly Dividend
Feb 2, 2009
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FERGUS FALLS, Minn., Feb. 2, 2009 (GLOBE NEWSWIRE) -- Otter Tail Corporation (Nasdaq:OTTR) today announced financial results for the fourth quarter and year ended December 31, 2008.
2008 Highlights:
* Consolidated revenues increased 5.8% to a record $1.3 billion in
2008.
* Electric segment net income increased to $33.2 million in 2...
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Minnesota PUC approved Otter Tail Power Company's resource plan
Jan 16, 2009
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Fergus Falls, Minnesota, January 15, 2009 The Minnesota Public Utilities Commission (MPUC) today approved Otter Tail Power Company's 2006-2020 integrated resource plan (IRP), which identifies the most cost-efficient resources for the next 15 years. According to Otter Tail Power Company president Chuck MacFarlane, the company's IRP...
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Otter Tail Power Company Requests First North Dakota Rate Increase Since 1982
Nov 4, 2008
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Fergus Falls, Minnesota - To address rising costs and growing energy use, Otter Tail Power Company is proposing to increase its base rates for electric service in North Dakota for the first time since 1982.
"We have been able to avoid a rate increase in North Dakota for more than 25 years by improving efficiency and managing our o...
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Otter Tail Power Company Requests First South Dakota Rate Increase Since 1987
Nov 3, 2008
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Fergus Falls, Minnesota - To address rising costs and growing energy use, Otter Tail Power Company is proposing to increase its base rates for electric service in South Dakota for the first time since 1987.
"We have been able to avoid a rate increase in South Dakota for more than 20 years by improving efficiency and managing our o...
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Otter Tail Corporation Announces Third Quarter Earnings, Revises Guidance; Board of Directors Declares Dividend
Nov 3, 2008
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FERGUS FALLS, Minnesota - Otter Tail Corporation (NASDAQ: OTTR) today announced financial results for the quarter ended September 30, 2008.
Highlights
Third quarter revenues of $352.9 million compared with $302.2 million for the third quarter of 2007.
Third quarter revenues...
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Otter Tail Corporation Announces the Closing of its Common Stock Offering
Sep 24, 2008
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Otter Tail Corporation (NASDAQ: OTTR) announced the closing of its offering of 4,500,000 newly issued shares of its common stock at a price per share of $30.00. The offering carried a gross spread of $1.0875 per share. The corporation also announced the issuance of an additional 675,000 shares of its common stock at the same price per share pursuan...
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Otter Tail Corporation Announces Public Offering of Common Stock; Updates 2008 Earnings Guidance
Sep 15, 2008
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Otter Tail Corporation (NASDAQ: OTTR) (the Company) announced today the commencement of a public offering of 5,000,000 shares of its common stock. The Company also expects to grant the underwriters of the offering an option to purchase up to an additional 750,000 shares to cover over-allotments.
The Company intends to use the net procee...
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