Algonquin Power owns and operates the Blue Hill Wind Facility near Herbert, SK
Blue Hill wind farm south of Herbert on Sept. 13, 2024. Photo by Brian Zinchuk
Algonquin Power & Utilities Corp. is shifting its headquarters south of the border to Chicago.
The Oakville, Ont.-based company says it will maintain a significant presence in Canada but move its head office to Illinois, where senior executives will be based.
The company framed the move as a way to better align its corporate structure with its footprint. More than 80 per cent of its operations are in the U.S. and less than five per cent are in Canada.
Algonquin says moving will also help it reduce cross-border tax inefficiencies, expand its access to capital and create a possible route to get included in U.S. equity indices and funds.
The announcement came as Algonquin reported a second-quarter profit of US$4.9 million, which compared with US$14.8 million in net earnings attributable to common shareholders a year ago.
The company, which keeps its books in U.S. dollars, said its basic and diluted net earnings amounted to one cent US per common share, compared with two cents US a year prior.
Revenue for the quarter ended June 30 totalled US$543.9 million, up from US$527.8 million a year earlier.
On an adjusted basis, Algonquin earned four cents US per share in its latest quarter, unchanged from its previous second quarter.
This report by The Canadian Press was first published Aug. 7, 2026.
Companies in this story: (TSX:AQN)
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