Otter Tail (OTTR) AGM 2026 summary

Opening remarks and agenda

• Welcomed shareholders and highlighted strong 2025 financial results, including a 158% five-year total shareholder return and recognition as the top-performing small-cap utility by EEI.

• Outlined the meeting agenda, voting procedures, and Q&A session logistics.

Financial performance review

• Achieved $276 million in earnings and $6.55 per share, with $386 million cash from operations in 2025.

• Maintained a sector-leading 16% return on equity and a strong balance sheet, supporting growth without external equity through at least 2030.

• Five-year capital spending plan totals $2 billion, with $1.9 billion allocated to the electric utility segment.

• Announced a 10% dividend increase for 2026, marking 87 consecutive years of uninterrupted dividends.

• Targeting long-term EPS growth of 7%-9% and total shareholder return of 10%-12%.

Board and executive committee updates

• Announced retirement of Steve Fritze and appointment of Chris Clark and Steve Rasche to the Board effective January 1, 2026.

• Board now consists of 10 members with diverse expertise; new members bring regulatory, financial, and risk management experience.