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920-164 exam Dumps Source : Contact heart Manager RIs6.0 I and M

Test Code : 920-164
Test cognomen : Contact heart Manager RIs6.0 I and M
Vendor cognomen : Nortel
: 57 existent Questions

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Nortel Contact heart Manager RIs6.0

Contact middle traffic Veteran invoice Devlin Joins ZOOM overseas to lead Product administration | killexams.com existent Questions and Pass4sure dumps

TMCNet: Contact heart Industry Veteran Bill Devlin Joins ZOOM International to Lead Product Management

FRANKLIN, Tennessee, Aug. 9, 2017 /PRNewswire/ -- ZOOM international, a leader in staff optimization and contact core utility, these days announced the appointment of invoice Devlin to vice chairman of global product management. he will lead product innovation and progress for ZOOM and align the enterprise's imaginative and prescient and strategic initiatives—ultimately assisting ZOOM retain its 2d-to-none internet Promoter ranking™ and becoming its management position within the WFO trade.

"invoice has a proven tune record of success in building cloud-native items which occupy delivered gigantic cost in the unified communications and phone core industries, such that his product teams occupy long gone from zero bucks in income to tens of thousands and thousands yearly," mentioned Brian Shore, chief executive officer of ZOOM overseas. "His leadership will aid ZOOM transform excellent contact middle enterprise challenges into advantageous options, assisting their consumers obtain stunning enterprise results. furthermore, he shares the govt crew's unwavering dedication to customer and ally delight."

Devlin brings pleasing expertise of te UCaaS, CCaaS, and CPaaS sectors to the product management division. prior to now, he turned into principle product manager at Genesys/Interactive Intelligence, where he led the building of PureCloud items from inception. previous to that, Devlin became director of technical practicing and earnings engineer at AudioCodes and a application and systems engineer at Nortel. Over his career, he has designed finished contact heart options, together with up to date and open APIs, telephony, omnichannel interactions, voice of the customer, analytics, satisfactory management, group of workers management and continual contact middle improvement.

responsible for establishing ultimate-in-classification client intimacy, Devlin should be tasked with constructing a team of all-stars and offering on an ingenious product roadmap. additionally, he may be a driving coerce at the back of ZOOM's traffic and cloud approach, go-to-market efforts and know-how systems.

"ZOOM represents an incredible haphazard to practice the core product philosophies I've constructed over the years," referred to Devlin. "each the client-centric subculture and management crew at ZOOM are an excellent hardy for product management to excel and construct items people love. I reckon that ZOOM can revolutionize how brands bring on customer adventure and optimize the contact middle throughout americans, manner and technology. i am very excited to succor ZOOM grow at this stage in its lifecycle."

About ZOOM overseas

ZOOM international is a global staff optimization (WFO) provider serving more than 1,600 shoppers and 350 partners in over 90 countries around the globe. The traffic facts calls and omnichannel communications whereas assisting contact facilities improve the consumer and agent adventure through capturing, analyzing, and improving the property of any interactions, while addressing again office compliance and risk. ZOOM is the traffic leader in consumer delight, incomes a web Promoter ranking (NPS) of eighty two+ for the previous 18 months. shoppers latitude from sub–a hundred agent contact facilities to a couple the world's biggest groups, equivalent to Finansbank, Cigna, Rostelecom, IBM, LEGO, and Saudi Aramco. greater guidance will also be found at http://www.zoomint.com or on Twitter @zoomint.

View usual content:http://www.prnewswire.com/news-releases/contact-center-trade-veteran-bill-devlin-joins-zoom-international-to-lead-product-management-300501523.html

supply ZOOM international

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Calabrio declares Calabrio Compliance Recording and first-class administration edition 2.7 featuring Redundancy Enhancements for Uninterrupted provider | killexams.com existent Questions and Pass4sure dumps

MINNEAPOLIS--(enterprise WIRE)--Calabrio, Inc., a leading provider of workforce optimization and unified laptop application for IP-primarily based contact centers, announced today a brand fresh version of Calabrio Compliance Recording and excellent administration, version 2.7, which aspects a redundant CTI (desktop Telephony Integration) carrier election for enhanced reliability, greater archival alternatives to toughen PCI (price Card trade) compliance, and learning employee recording that doesn't require an underlying contact core ACD (automated cognomen Distributor). Calabrio also announced the availability of Calabrio staff administration application, version eight.3.three. both items encompass increased language help.

“distinct contact middle purchasers occupy separate needs, so bendy elements are necessary and any of them are expecting reliability,” mentioned Paul Lidsky, CEO and president of Calabrio, Inc. “The enhancements they announced today additional give a boost to two key features that occupy been simple to Calabrio application - the reliability and flexibility that are so crucial to contact facilities in managing americans and procedure.”

Calabrio Compliance Recording and property management (CQM) 2.7

Calabrio Compliance Recording and exceptional administration gives the pliability for shoppers to install a recording solution for satisfactory administration, a hundred% voice recording, or each, the expend of software this is constructed for reliability in IP-based mostly contact centers. This fresh release, edition 2.7, comprises the following enhancements:

Redundant CQM CTI service election – This enhancement allows for the deployment of redundant CTI features to get sure the faultfinding recording carrier isn't interrupted with the aid of the failure of a single server or service.

crew-stage Archive Workflow Configuration – Archival recording can now be configured to exclude recording from selected sets of enviornment codes to accommodate diverse third-party recording consent rules. This enhancement expands upon the product’s current capabilities around PCI compliance.

listing learning employees with out ACD Requirement – Calabrio has supported potential worker recordings in feeble releases, however, an ACD became required. This fresh edition allows businesses to deploy recording with out integration to an ACD through a direct connection to a Communications supervisor (IP-based PBX).

extended Flexibility – the brand fresh application now permits recordings to be saved for an stupendous amount of time, and permits recording of lots of of calls per agent per day so as to give the highest flexibility to fulfill consumer requirements.

Localization – Calabrio nice management now includes localizations for French, Italian, German, Spanish, Dutch, Brazilian Portuguese, Swedish, Danish, Russian, Korean, jap, Simplified chinese language and standard chinese language.

Calabrio workforce management (WFM) eight.3.three

Calabrio body of workers administration is a 100% browser-based avow that gives forecasting, scheduling and personnel planning capabilities that are architected to fulfill the particular wants of IP-based mostly or virtual contact facilities. This fresh free up, edition eight.3.3, gives better configurability of experiences and work parameters to tackle the specific traffic needs of Calabrio consumers. The product is also now accessible in French.

Supported platforms encompass: Cisco Unified Contact heart specific v5.x, 6.0, 7.0; Cisco Unified Contact core traffic v6.x, 7.x; Avaya CMS four+, Nortel Contact core 6.0 and Symposium 5.0.

Calabrio Compliance Recording and pleasant management 2.7 and Calabrio workforce management eight.3.three are available now through approved Calabrio companions.

Calabrio Compliance Recording and excellent administration and Calabrio personnel management are components of the Calabrio One suite, which integrates workforce optimization with unified computing device applications for brokers and supervisors in order to enhance the consumer journey, grow revenue, and boost profitability. as an example, Calabrio One shoppers can create forecasts, generate work schedules, measure satisfactory and effectivity, access reports and signals, and collaborate within their teams to occupy an result on performance. The Calabrio One cognomen represents a rush towards streamlining enterprise techniques - proposing brokers with one view of the client, and providing supervisors and bosses with one view of the contact middle – any from a common laptop.

About Calabrio, Inc.

Calabrio, Inc. develops and markets Calabrio One™, a comprehensive suite of consumer interplay and body of workers optimization software that’s convenient to achieve into effect, expend and maintain in fresh IP-based mostly customer interplay networks. with the aid of integrating staff optimization in the agent and supervisor workflow, Calabrio helps clients align their contact middle enterprise approaches and performance with their enterprise aims. Calabrio distributes their utility through channel partnerships and an o.e.m relationship with Cisco, and has achieve in software on more than 550,000 desktops. Calabrio is a member of the Cisco technology Developer application (CTDP), the Nortel Open developer application, and a gold member of the Avaya DevConnect application. ascertain information and suggestions at www.calabrio.com.

Calabrio, Calabrio One and the Calabrio brand are registered trademarks or logos of Calabrio, Inc. any other trademarks outlined during this document are the property of their respective homeowners.


Enghouse Interactive Showcases UC and Omni-Channel Contact heart solutions at IAUG CONVERGE 2015 | killexams.com existent Questions and Pass4sure dumps

Contact core solutions leader Reinforces residence on the Forefront of the Avaya consumer and DevConnect ally community

PHOENIX, AZ--(Marketwired - Jun 15, 2015) - Enghouse Interactive (www.enghouseinteractive.com), developer of a complete portfolio of unified communications (UC) and procure in touch with core solutions, nowadays introduced that it would parade off its expansive portfolio from sales space #1029 at IAUG CONVERGE 2015, taking vicinity June 14 - 18, 2015 in Denver, CO, in addition to its commitment as a Gold Sponsor.

"As a longtime, tenured member of the Avaya user community and DevConnect associate community, Enghouse Interactive is in a position to deliver an unparralleled, inherent capabilities of Avaya air of mystery® conversation supervisor, (ACM), Avaya IP office and other UC options to every deployment," pointed out John Cray, vice president of product management, Enghouse Interactive,.

Enghouse Interactive's expansive portfolio of contact core and client interaction solutions lead the market with superior performance, equivalent to omni-channel queuing, integrated presence, representing a powerful UC-integrated contact core offering.

Paired as a bundle, EICC and Enghouse Interactive fine administration Suite (QMS) creates a compelling complement to Avaya IP workplace and ACM structures. Communications core is a complete omni-channel contact core avow that includes IVR (interactive voice response), routing of any kinds of communication in a generic queue, productiveness rig for brokers and supervisors, and particular administration reporting. EICC additionally boasts a unified communications part, that includes voice mail, unified messaging (e.g. voice mail in mailbox), IM, rich presence, enterprise user communique equipment, and full management reporting.

QMS contains an IP convene recording solution with 100% compliance recording; caused, selective or scheduled recording; and lines equivalent to list on demand. moreover, the suite allows for contact heart administrators to checklist clients' computers -- by window or utility, selectively or in complete -- as well as assessment templates and reporting to grade performance on calls and to teach clients/brokers on enhancing the customer event.

EICC also integrates natively with charisma® verbal exchange supervisor. Leveraging Avaya's TSAPI for communication manager, a high-degree C/C++ API in keeping with the CSTA typical, this integration enables shoppers to seamlessly maximize their odds from both options.

TSAPI allows access to the total complement of third-birthday party convene manage capabilities supplied by way of ACM as an evolution server. These third-birthday celebration convene wield capabilities involve controlling particular calls or stations, routing of incoming calls, receiving notifications of activities, invoking communique supervisor aspects, and querying conversation supervisor for tips.

further phoneset solutions from Enghouse Interactive allow users to leverage their investments in IP with the aid of offering useful, converged enterprise functions to the screens of Avaya CS 1000 IP telephones, and conveying fresh and existing functions for true-time interplay on the mobile displays. Enghouse Interactive applications are appropriate with Avaya CS 1000 with 11xx, 200x and 12xx sequence IP telephones. faultfinding to commemorate is that with the Avaya (Nortel) software Gateway 2000 now manufacture-discontinued, Enghouse Interactive can present consumers applications for Avaya CS 1000 as a replacement answer. 

besides constructing customized solutions for valued clientele, Enghouse Interactive substances a suite of prepackaged applications for the enterprise, hospitality and buying and selling markets.

"The ensuing productiveness improvements a ways exceed the baseline cost savings and performance of Voice-over-IP (VoIP); the telephones evolve from being used comfortably for voice communications to information home equipment, complementing or even changing the workstation," added John Cray.

ABOUT ENGHOUSE INTERACTIVE Enghouse Interactive supplies technology and expertise to maximize the cost of every consumer interplay. The company develops essentially the most comprehensive portfolio of client interaction administration options. Core technologies involve contact center, attendant console, predictive outbound dialer, talents management, IVR and convene recording options that aid any telephony atmosphere, on premise or in the cloud. Enghouse Interactive has heaps of consumers global, supported through a world network of partners and greater than seven-hundred dedicated group of workers throughout the company's international operations.

Enghouse Interactive is a subsidiary of Enghouse methods restrained, a application and features company traded on the Toronto stock trade (TSX) under the symbol " ESL." founded in 1984, Enghouse methods is a normally ecocnomic business, which has grown both organically and thru the acquisition of neatly-considered consultants together with Arc, CosmoCom, Datapulse, Syntellect, Telrex, Trio, Voxtron, Reitek and Zeacom.

For more information, please talk over with www.enghouseinteractive.com.


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Otter Tail Corporation (OTTR) CEO Charles MacFarlane on Q4 2018 Results - Earnings convene Transcript | killexams.com existent questions and Pass4sure dumps

Otter Tail Corporation (NASDAQ:OTTR) Q4 2018 Results Earnings Conference convene February 19, 2019 11:00 AM ET

Company Participants

Loren Hanson - Manager of IR

Charles MacFarlane - President and CEO

Kevin Moug - SVP and CFO

Conference convene Participants

Paul Ridzon - KeyBanc

Chris Ellinghaus - Williams Capital

Operator

Good morning, and welcome to the Otter Tail Corporation's 2018 Year-End Earnings Conference Call. Today's convene is being recorded, and they will hold a question-and-answer session after the prepared remarks.

I will now turn the convene over to the company for their opening comments.

Loren Hanson

Good morning, everyone, and welcome to their call.

My cognomen is Loren Hanson and I manage Otter Tail Investor Relations Area. terminal night, they announced their 2018 year-end results and their 2019 earnings per share guidance range. Their complete earnings release and slides accompanying this convene are available on their website at ottertail.com. A replay of the convene will be available on their website later today.

With me on the convene today are, Chuck MacFarlane, Otter Tail Corporation's President and CEO; and Kevin Moug, Otter Tail Corporation's Senior Vice President and Chief fiscal Officer.

Before they begin, I want to remind you that they will be making forward-looking statements during this call. As noted on Slide 2, these statements represent their current judgment or belief of what the future holds. They are subject to risks and uncertainties that may judgement actual results to disagree materially. So please be advised about placing undue reliance on any of these statements. Their forward-looking statements are described in more detail in their filings with the Securities and Exchange Commission, which they embolden you to review. Otter Tail Corporation disclaims any duty to update or revise their forward-looking statements due to fresh information, future events, developments or otherwise.

For opening remarks, I will now turn the convene over to Otter Tail Corporation's President and CEO, Mr. Chuck MacFarlane.

Charles MacFarlane

Thank you, Loren, and wonderful morning, everyone.

Last night, they released their 2018 results. please refer to Slide 5 as I start my comments. Earnings per share were $2.06, which is above the midpoint of their updated 2018 earnings guidance of $2 to $2.10.

Our stock performed well. For the three years ending 2018, Otter Tail Corporation ranked number one in total shareholder recrudesce in the EEI index of investor-owned electric utilities. Total shareholder recrudesce has grown at a compound annual rate of 15.3% over the past five years. The dividend yield at year-end was 2.7%.

Some of their Otter Tail Power's 2018 accomplishments include; The North Dakota Public Service Commission granularity of power and overall revenue enlarge of $4.6 million or 3.1% with a recrudesce on equity of 9.77%. Final rates went into result February 1, 2019. They implemented interim rates in South Dakota.

Interim rates, which are subject to refund, remain in residence until the Public Utilities Commission makes a conclusion on their request to enlarge non-fuel rates by approximately $3.3 million or 10.1%. The Commission will also determine on the second step in their request, which is an additional 1.7% to regain costs for the proposed Merricourt wind generation facility when it goes into service.

We completed straining the stout Stone South-Ellendale 345 kV regional transmission project in 2018 and energized the line in early February of 2019. Their share of the cost for this project was $115 million, because this is a MISO multi-value project, which allows cost recovery from any customers who profit from the line. Their customers will pay less than 1% of the project costs.

In 2019, Otter Tail Power will also enhance transmission infrastructure in their Southeastern/South Dakota service territory, providing an approximate $39 million investment that will improve reliability and provide increased capacity for customers in the southern finish of their service territory.

In the fourth quarter and into 2019, they continue to work through the MISO generator interconnection process for the Merricourt wind generation projects, which will be Otter Tail's largest capital investment at $270 million. They evaluate the project construction will began in July of 2019 with an expected commercial operation in the third quarter of 2020.

South Dakota Public Utilities Commission approved the site permit for the $165 million Astoria Station natural gas generation project. And the North Dakota PSC sanction the project for rider recovery in their recent North Dakota rate case.

We will start construction in 2019 and expect to be operational by March 2021. These and other investments will produce an annual growth rate of 8% in their rate ground between 2018 and 2023 in a constructive regulatory environment.

The Minnesota Public Utilities Commission approved a one-year extension to June 1, 2020, for the filing of their next resource plan. Two key environmental regulations that may impact their modeling are the regional haze rule and the proposed affordable clean energy rules. Delaying their filing one year will allow us to reckon the outcomes of these environmental regulations and develop a more informed resource plan.

In August, they published their ESG Sustainability Report, which gives investors and others insight into their environmental, social and governance commitments. On Slide 15 through 17, you'll note highlights from their report and a glimpse into how their electric utilities plant and service and resource fuse are evolving due to significant investments in low cost renewable energy and transmission that enables regional wind development.

Last, but certainly not least, February 4, 2019, marked the official go-live date for their fresh Customer Information System. This 37-month project is their biggest system upgrade in the generation. I'm proud of the project team for its result throughout the project and for executing a seamless cutover scheme to succor ensure continued customer satisfaction.

I'd also fancy to give special recognition to Coyote Station in North Dakota for achieving two milestones. By year-end, the plant exceeded 3 million megawatt hours produced, the second highest yearly generation amount in the plants 38-year history and crossed over the 3 million man-hour without a loss time incident.

The plants terminal loss time incident occurred 18 years ago. Congratulations to Coyote Station employees for these significant accomplishments and thank you to any of their employees for continuing to achieve safety first.

Our manufacturing companies also experienced notable accomplishments in 2018. BTD their constrict metal fabricator and largest manufacturing traffic increased sales by 19% in 2018 and the Georgia location is profitable in the terminal half of the year. The company achieved this while reporting its lowest OSHA rate and highest on-time delivery in history.

T.O. Plastics celebrated its 70th anniversary in 2018 and achieved 6% overall sales growth and a 29% enlarge in earnings, driven mostly by lower income tax rates. The company's horticulture segment continues to grow through key account relationships and fresh product launches.

Northern Pipe Products and Vinyltech had an exceptional year supported by strong market demand and prices, and continued excellent operational performance. They positively contributed to earnings, while remaining highly competitive.

Both companies continue to prove - improve in the markets they serve by demonstrating flexibility and responsiveness to customer needs. We're targeting additional organic volume growth in these companies in 2019.

Employees across their organization are aligned with their growth strategy, which includes capital investment, continued improvement in operations and talent development. It's with much appreciation that I congratulate them on a job well done in 2018. In 2019, they will continue to execute on utility rate ground growth and create additional organic growth in the manufacturing businesses.

Now, I'll turn it over to Kevin for the fiscal perspective.

Kevin Moug

Well, thank you, Chuck, and wonderful morning, everyone.

I will cover the following items, their 2018 fiscal results; their liquidity position; the strength balance sheet and corporate credit ratings; the enlarge in their 2019 indicated annual dividend; their five-year capital expenditure scheme and their 2019 traffic outlook.

We are pleased with their strong 2018 fiscal performance. Revenues grew approximately 8% and earnings grew approximately 14% with any their reporting segments showing year-over-year increases in revenues and earnings. They earned $2.06 per share, which compared with $1.82 per share terminal year.

Our 2018 recrudesce on equity was 11.5% on an equity ratio of 54.5%. Their two platform strategy continues to deliver higher returns on equity on a higher equity layer when compared to holding company peers.

Let me now provide an overview of 2018 earnings by segment, as shown on Slides 20 and 21. Electric segment net earnings increased $5 million year-over-year. Key drivers involve increased revenues due to more propitious weather, year-over-year earnings improved by $0.11 a share due to the weather and compared to standard weather was propitious by $0.07 a share, increased revenues due to interim rates associated with their North Dakota common rate case, net of estimated refunds, which was implemented in January of 2018.

Interim rates associated with their South Dakota rate case went into result in October of 2018, increased renewable resource, rider revenues in Minnesota and North Dakota, and increased Minnesota SIP revenues.

These items were partially offset by a $9.6 million reduction in revenues related to a provision for refunds to recognize that current retail rates in their service region and FERC approved transmission tariffs, their recovering federal income taxes in excess of lower rates under tax reform, lower North Dakota environmental cost recovery rider revenue due to the impact from lower tax rates, a reduction in the recrudesce on equity component of the rider in the lower investment balance subject to recovery from depreciation.

For their North Dakota and South Dakota transmission costs recovery riders due to the impact of lower tax rate and reduced transmission costs. Other items impacting the segment's earnings were higher operating and maintenance, property tax and depreciation expenses.

We did occupy a scheduled maintenance outage in 2018 at their stout Stone plant that cost $2.9 million. They don't occupy any planned maintenance outages in 2019. In income tax, expense was lower in 2018, mainly due to the reduction in federal corporate tax rates from 35% to 21% and the reversal of excess deferred taxes.

Net earnings for the Manufacturing segment increased $1.8 million year-over-year. Key elements of this improvement are as follows; BTD's revenues increased $36.8 million, of which $33.8 million came from increased product sales to any its major finish markets, $12.7 million of this enlarge relates to higher material costs that were passed through to customers with the balance due to increased sales and improved pricing. BTD's scrap metal revenues also increased due to higher volumes and higher scrap sales prices.

These increases were offset in allotment by higher cost of goods sold and operating expenses, and higher income taxes due to the elimination of the Section 199 deduction, which was eliminated in 2018 and the write-down of deferred tax liabilities in 2017, which lowered terminal year's income tax expense. These items resulted in a $1.2 million enlarge in BTD's year-over-year earnings.

T.O. Plastics revenues improved $1.9 million, mainly due to increased sales of horticultural containers. The increased revenues were partially offset by higher cost of goods sold, labor, freight and operating expenses. Earnings before taxes increased slightly year-over-year, however due to a lower tax rate earnings improved $600,000 at T.O. Plastics.

The Plastics segment's earnings increased $2.1 million year-over-year as a result of a 9.4% enlarge in PVC pipe prices, a 2.3% decrease in pounds of pipe sold. The enlarge in sales prices more than offset higher cost of goods per pound sold and lower sales volumes. The net impact of these items resulted in an 11.3% improvement in Gross margins.

Sales volumes were lower in the terminal four months of 2018 compared with the identical time period in 2017, primarily due to the increased sales from hurricane-related impacts in the Gulf Coast region.

Those dynamics favorably impacted earnings by an estimated $0.09 a share in 2017, and the propitious variance due to tax reform was offset by a loss of the Section 199 deduction in 2018 from lower tax expense in 2017 from a $3.3 million reduction in deferred tax liabilities due to tax reform.

Our corporate expenses before taxes increased $4 million year-over-year, primarily due to an enlarge in charitable contributions due to the establishment of the Otter Tail Corporation Charitable Foundation in 2018, the enlarge in employee profit costs and in other corporate costs. They realized the $5 million net enlarge in tax savings in the corporate costs heart in 2018, primarily due to the write-down of deferred tax assets in 2017 from tax reform.

This was offset by an enlarge in tax expense, mostly related to uncertain tax positions and the establishment of a valuation allowance on the recoverability of sure state net operating losses. And they experienced a reduction in tax savings as a result of the federal tax rate change. The net result of their lease items was $1 million year-over-year reduction in corporate expense.

Moving to Slide 22, let's review their fiscal condition and liquidity. terminal year, they had no equity financing activity and don't expect any equity issuances in 2019. Their two credit agreements are in residence until October 31 of 2023 between expected cash rush generated from 2019 operating activities and these credit facilities. They occupy the appropriate levels of liquidity to support both of their traffic platforms.

We currently expect to carry out a private placement of debt at Otter Tail Power Company in the purview of $150 million to $170 million during the terminal half of 2019 in connection with their rate ground growth. And, in 2018, any three rating agencies affirmed Otter Tail Corporation and Otter Tail Power's ratings and outlook. And they remain committed to maintaining investment grade credit ratings and we'll manage their operations to reflect that commitment.

As shown on Slide 24, the Board of Directors increased their indicated annualized dividend rate from $1.34 per share to $1.40 per share. This 4.5% enlarge is a result of their solid 2018 performance and their 2019 outlook, the company's strong balance sheet, liquidity, cash generation profile and their commitment to enhancing shareholder returns.

We expect future dividend increases to be in line with earnings growth, while maintaining a targeted payout ratio in the purview of 60% to 70% and they occupy paid dividends on their stock for 80 years for 321 consecutive quarters.

Slide 25 highlights their capital expenditure plans for the 2019 through 2023 timeframe. They expect capital expenditures for 2019 to be $203 million. Planned expenditures for this year includes $61 million for the Merricourt wind project and $40 million for the Astoria Station natural gas-fired plant. These investments will continue to positively impact the Corporation's earnings and returns on capital.

The five-year capital scheme calls for approximately $973 million in utility projects, 45% of this capital spend will be recovered through riders. The scheme also includes $97 million for the manufacturing and plastics businesses. In their updated compounded annual growth rate in rate ground over the 2018 through 2023 timeframe is projected to be 8%, using 2018 as the ground year.

Slide 26 reflects their 2019 consolidated earnings per share guidance of $2.10 to $2.25. This guidance includes their strategies for improving future results, the cyclical nature of the manufacturing businesses as well as current regulatory factors facing their electric segment.

Our electric segment's 2019 net income is expected to be higher than 2018 based on constructive outcome in the South Dakota rate case, increased AFUDC for planned capital projects, including Merricourt wind project in the Astoria natural gas plant, along with increased revenues from the North Dakota generation cost recovery rider on the Astoria Station.

Increased revenues from the completion of the stout Stone South-Ellendale project and additional transmission investments related to their South Dakota transmission reliability project, decreased operating and maintenance expenses due to a decrease in pension medical workers' compensation and retiree medical benefits, their discount rate is increasing in 2019 to 4.5% from 3.9%, driven by the increasing interest rate environment. These items are offset by standard weather. Weather favorably impacted their 2018 earnings per share by $0.07 compared to normal.

Higher property tax and depreciation expense due to larger transmission projects being achieve into service. They expect increased earnings from their manufacturing segment in 2019 due to increased sales at BTD and the recreational vehicle, lawn and garden and agricultural finish markets, also increased scrap revenues due to stronger sales volumes, the increased earnings at T.O. Plastics, primarily driven by increased sales in horticultural life science and industrial finish markets. The backlog for this segment is approximately $211 million for 2019 compared with $166 million a year ago.

We expect Plastics' 2019 net income to be lower than 2018. They are expecting lower operating margins due to increasing resin prices and slightly higher sales volumes compared to terminal year. In corporate costs, net of tax are expected to be lower in 2019.

Our current earnings guidance for 2019 reflect 68% of their earnings from their electric segment and 32% of their earnings from their manufacturing and plastics segments. This compares with 66% and 34%, respectively, in 2018. The enlarge in the electric earnings fuse is being driven by the rate ground growth related to Merricourt, Astoria and South Dakota reliability projects.

We expect the long-term earnings fuse to continue to spin back in line with 75% of earnings from their electric segment and 25% of their manufacturing and plastics segments net of unallocated corporate costs. This will be driven by the capital plan, which calls for approximately 91% of their capital spend over the 2019 through 2023 timeframe to be in the electric segment. They believe their 2019 guidance further positions us to achieve a 5% to 7% compounded annual growth rate in earnings per share using 2018's $2.06 a share.

Our 2019 guidance is dependent on the traffic and the economic challenges their two platforms will visage this year. For the utility, key drivers involve constructive outcome in the South Dakota rate case and successful execution of their rate ground growth projects.

For BTD, key drivers involve continued operational improvements across any locations to further improve their recrudesce on sales margins. And while earnings are expected to decline in 2019 for Plastics, this segment continues to be a strong complement to their portfolio by providing strong earnings, cash flows to support their dividend and returns on invested capital.

We are now ready to recall your questions.

Question-and-Answer Session

Operator

[Operator Instructions] Their first question comes from Paul Ridzon with KeyBanc.

Paul Ridzon

Could you give just some background on this charitable contribution and what they should watch for going forward?

Charles MacFarlane

Sure, Paul. I cherish the question. They have, for a number of year, been considering establishing the foundation for, well, both Otter Tail Corporation and then they also occupy established one for the Otter Tail Power Company as well.

And they wanted to, in 2018, certainly succor procure the foundations off on the right foot with the wonderful commitment to fund those organizations going forward, and so you note a probably a much healthier contribution made for the Otter Tail Power - I'm sorry the Otter Tail Corporation foundation in that $2 million amount, the Power Company is a $0.5 million.

And as they benign of watch forward, I would narrate you that future contributions are ultimately subject to the success, the fiscal success that we're having at both of the entities, but in the utility we're looking for the future benign of range, I would say, in that $2 million to $500,000 purview on a go-forward basis and at the parent company depending on results you could see, I suppose, in a purview of $300,000 to $600,000 a year.

Paul Ridzon

So '18 was just benign of getting this - the faultfinding mass.

Charles MacFarlane

Yes.

Paul Ridzon

And then relative to your EEI data, it looks fancy some CapEx moved from '19 to '20, can you give a limited more detail there?

Charles MacFarlane

The movement, Paul, relates to the Astoria - Merricourt. The movement is the Merricourt project when you - in terms of what you - they saw at EEI and then what they note now, we've seen a bit of a shove back in the timing of the Merricourt project. And so basically the project isn't going away. It's just a movement of dollars from '19 into '20.

Paul Ridzon

So everything fundamentally still the same, just the timing shift?

Charles MacFarlane

Yes.

Paul Ridzon

And then I know I interrogate this every call, but pressures you're seeing maybe from the profit of tax reform being competitively reduced in the manufacturing segments?

Charles MacFarlane

Paul, they just haven't seen that. With couple of their - as they talk about in the press release and in my comments, they were actually - they saw expense uplift from some of their customers in 2019 both in benign of across the board at BTD and T.O. Plastics. They were able to procure expense increases in residence with customers where they thought it was appropriate and needed. They haven't had any shove back from customers looking for benign of a reduction in pricing, because of the tax savings were picking up in the manufacturing businesses.

It doesn't express that it couldn't happen, but they certainly are seeing any of that and of course they actually occupy - they could be looking for the identical things on their supply side as well when they negotiate their prices with their supply ground and given the PVC commodity nature of that traffic prices were up in 2018 in the PVC pipe traffic and that was really a reflective of market conditions.

We're seeing some softening of prices they saw that in the fourth quarter and as they head into '19, but it's really more market driven that it is having anything to carry out with tax reform.

Paul Ridzon

What's driving that softening in the market?

Charles MacFarlane

I believe that there - they as they went through '18, they saw much stronger prices than they expected. Now, as they head into the - they completed the fourth quarter, they saw some uplift in their resin costs. They believe saw some pullback in market pricing as it relates to just demand and competition.

And as they spin into '19, we're seeing similar - there's some announced resin expense increases here in the first quarter, we'll note if they stick fully, but they expected some of it's going to stick and we've seen some softening in sales prices that started in the fourth quarter and it's really benign of market related and it's what's driving it.

Operator

Our next question comes from Chris Ellinghaus with Williams Capital.

Chris Ellinghaus

Can talk about the Georgia, you'd mentioned that it was profitable in the second half of the year. Are you expecting that trend to continue?

Charles MacFarlane

Yes, they are. They more - fancy a 30% enlarge in volume year-over-year in Georgia. So we've got some leverage there and they continue to note a wonderful backlog at that site. We've continued to improve operationally, then improve dramatically around their on-time delivery and work with a number of customers on pricing, so they anticipate that similar or better results as they had in the terminal six months of '18 going forward into '19.

Chris Ellinghaus

Does that express BTD had some pretty strong revenue growth? Are you expecting particularly with the way the backlog look, you're expecting another really wonderful revenue year there?

Charles MacFarlane

We are definitely expecting an increase, I would say, in the backlog 35% of the allotment expense or 35% to 40% is metal and a lot of these prices that are in the backlog assume metal prices that were probably based on 2018 final quarter and we've seen that drop a little. So the metal impact in the '19 backlog is likely overstated a limited bit, but they carry out anticipate wonderful growth in any the segments where - there are some of those segments that you're not going to note that benign of growth.

We occupy been awarded programs in the Ag sector that are fresh to us, signification it's just not higher volume of the identical allotment they were making, they are going to be making parts of it that they weren't in previous year. So it's a market share growth there.

Chris Ellinghaus

Kevin, is the foundation donations that you were talking about, would you anticipate that those would likely stay sort of fourth quarter benign of events?

Kevin Moug

Yes.

Chris Ellinghaus

And lastly, you talked about the competition increasing in plastics a limited bit, is there - was there a lot of slack in capacity that some of your competitors may occupy been trying to utilize or procure your utilization higher or what - where is that competition coming from?

Charles MacFarlane

Yes. I mean, I believe that there is a lot of the - some of the larger competition certainly has capacity out there in the - in their plants. Some of that competition is also vertically integrated and that there are resin manufacturers and there's always some potential or were there want to occupy their profits occur and whether it's at their resin plants or their PVC businesses.

And so they did note some of that happened and there's been - it's - at least, looks to be continuing into the first quarter here. I mean, we're only a month and a half into the year so far, but they occupy seen sales prices benign of continue with those limited bit reduced levels from that were in the fourth quarter.

Operator

Our next question is a follow-up question from Paul Ridzon with KeyBanc.

Paul Ridzon

Just back to the terminal question, the - at BTD, the decrease in metal prices will impact revenues, but shouldn't impact net income?

Kevin Moug

Correct. The metal prices are passed through to the customer, but they carry out parade up in the backlog as far as total allotment prices.

Paul Ridzon

Kevin, when you talked about and talks about the '19 electric utility outlook, you said something about O&M and pension, like, I benign of missed that, could you quickly review what you said?

Kevin Moug

Sure. I mean, we're - they expect, in large part, lower O&M at the utility in part, because we're - their discount rate went up on the pension scheme and their other profit programs and they had a discount rate of 3.9%, Paul, in 2000 - that they expend for 2018 and then now in 2019, given where interest rates spin benign of that terminal half of the year, their discount rate went up to 4.5%.

Paul Ridzon

And should they also watch for decrease in O&M, because of the plant outage loss?

Kevin Moug

Yes.

Paul Ridzon

So the O&M line in total should be down? Correct? Is that unbiased to say?

Kevin Moug

Yes.

Operator

And I'm not showing any further questions on the phone lines.

Charles MacFarlane

Well, thank you for your questions and support Otter Tail Corporation. With continued execution on the utility growth projects and strong operational performance in their manufacturing segment, they remain confident in their skill to deliver shareholder value. In 2019, they will focus on continuing to improve BTD profitability and they will further refine the long-term growth strategy for Northern Pipe and Vinyltech and T.O. Plastics, and they will continue to execute on Otter Tail Power's major generation and technology projects. They believe this will allow us to the deliver on their 2019 guidance of $2.10 to $2.25 a share.

Thank you for joining their call. They cherish your interest in Otter Tail Corporation, and they watch forward to a successful 2019.

Operator

Ladies and gentlemen, this does conclude today's presentation. You may now disconnect. And occupy a wonderful day.

SeekingAlpha

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A Minneapolis man who is black says he was singled out and asked to pay in advance at a Brooklyn heart buffet, balky to the restaurant's standard practice.

Vanlice "Vii" Washington said that when he visited Ocean Buffet early Saturday afternoon, the Chinese-American manager demanded he pay before getting his food while other customers streamed by him to dine first and pay later.

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Washington, a 32-year-old entrepreneur and IT specialist, said he had eaten at the buffet at least 20 times before and was never asked to pay before eating.

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"We are both immigrants and minorities. It's already arduous enough out there. For them to carry out what they are doing is ridiculous and wrong."

The manager, Fang Chen, said she asked some young customers — including Washington — to pay in advance after having problems with a series of "dine and dash" customers. She said she apologized to Washington when he told her he was in his 30s.

"I carry out interrogate young kids to pay first. I already apologized and said I am sorry," said Chen, who added she thought her less-than-perfect English didn't succor the situation. "He was mad at me and he called the police officer."

The restaurant has been receiving furious and sometimes profane calls, as well as hostile posts on Facebook and online review sites.

"I never told people to boycott the place, but I had to post it," Washington said. "I was so furious because she laughed at me after the cops left."

Brooklyn heart police confirmed that they responded to Washington's convene around 2 p.m. on Saturday. Officers talked to Washington and the manager and determined it was a civil matter.

Washington said he did sit down and eat, peeling off a $50 bill to pay for the food shortly after he began.

"Sad day for me ... I just lost one of my favorite buffets to ingest at," Washington wrote in his Facebook post on the incident. "The food is still wonderful but now I just can't ingest here ever again."

Washington said he also took a photo of himself at the restaurant to document the incident because he knew doubters would direct he was "dressed fancy a hoodlum."

"It is sad. You occupy to cover any your bases," he said.

Shannon Prather • 612-673-4804


Otter Tail Corp (OTTR) Q4 2018 Earnings Conference convene Transcript | killexams.com existent questions and Pass4sure dumps

Logo of jester cap with thought bubble.

Image source: The Motley Fool.

Otter Tail Corp  (NASDAQ:OTTR)Q4 2018 Earnings Conference CallFeb. 19, 2019, 11:00 a.m. ET

Contents:
  • Prepared Remarks
  • Questions and Answers
  • Call Participants
  • Prepared Remarks:

    Operator

    Good morning, and welcome to the Otter Tail Corporation's 2018 Year-End Earnings Conference Call. Today's convene is being recorded, and they will hold a question-and-answer session after the prepared remarks. I will now turn the convene over to the company for their opening comments.

    Loren Hanson -- lieutenant Secretary, Treasurer & Manager of Investor Relations

    Good morning, everyone, and welcome to their call. My cognomen is Loren Hanson and I manage Otter Tail Investor Relations Area.

    Last night, they announced their 2018 year-end results and their 2019 earnings per share guidance range. Their complete earnings release and slides accompanying this convene are available on their website at ottertail.com. A replay of the convene will be available on their website later today.

    With me on the convene today are, Chuck MacFarlane, Otter Tail Corporation's President and CEO; and Kevin Moug, Otter Tail Corporation's Senior Vice President and Chief fiscal Officer.

    Before they begin, I want to remind you that they will be making forward-looking statements during this call. As noted on slide two, these statements represent their current judgment or belief of what the future holds. They are subject to risks and uncertainties that may judgement actual results to disagree materially. So please be advised about placing undue reliance on any of these statements. Their forward-looking statements are described in more detail in their filings with the Securities and Exchange Commission, which they embolden you to review. Otter Tail Corporation disclaims any duty to update or revise their forward-looking statements due to fresh information, future events, developments or otherwise.

    For opening remarks, I will now turn the convene over to Otter Tail Corporation's President and CEO, Mr. Chuck MacFarlane.

    Charles MacFarlane -- President & Chief Executive Officer

    Thank you, Loren; and wonderful morning, everyone. terminal night, they released their 2018 results. please refer to slide five as I start my comments. Earnings per share were $2.06, which is above the midpoint of their updated 2018 earnings guidance of $2 to $2.10.

    Our stock performed well. For the three years ending 2018, Otter Tail Corporation ranked number one in total shareholder recrudesce in the EEI index of investor-owned electric utilities. Total shareholder recrudesce has grown at a compound annual rate of 15.3% over the past five years. The dividend yield at year-end was 2.7%.

    Some of their Otter Tail Power's 2018 accomplishments include: The North Dakota Public Service Commission granularity of power and overall revenue enlarge of $4.6 million or 3.1% with a recrudesce on equity of 9.77%. Final rates went into result February 1, 2019. They implemented interim rates in South Dakota. Interim rates, which are subject to refund, remain in residence until the Public Utilities Commission makes a conclusion on their request to enlarge non-fuel rates by approximately $3.3 million or 10.1%. The Commission will also determine on the second step in their request, which is an additional 1.7% to regain costs for the proposed Merricourt wind generation facility when it goes into service.

    We completed straining the stout Stone South-Ellendale 345 kV regional transmission project in 2018 and energized the line in early February of 2019. Their share of the cost for this project was $115 million, because this is a MISO multi-value project, which allows cost recovery from any customers who profit from the line. Their customers will pay less than 1% of the project costs.

    In 2019, Otter Tail Power will also enhance transmission infrastructure in their Southeastern/South Dakota service territory, providing an approximate $39 million investment that will improve reliability and provide increased capacity for customers in the southern finish of their service territory.

    In the fourth quarter and into 2019, they continue to work through the MISO generator interconnection process for the Merricourt wind generation projects, which will be Otter Tail's largest capital investment at $270 million. They evaluate the project construction will began in July of 2019 with an expected commercial operation in the third quarter of 2020.

    South Dakota Public Utilities Commission approved the site permit for the $165 million Astoria Station natural gas generation project. And the North Dakota PSC sanction the project for rider recovery in their recent North Dakota rate case. They will start construction in 2019 and expect to be operational by March 2021. These and other investments will produce an annual growth rate of 8% in their rate ground between 2018 and 2023 in a constructive regulatory environment.

    The Minnesota Public Utilities Commission approved a one-year extension to June 1, 2020, for the filing of their next resource plan. Two key environmental regulations that may impact their modeling are the regional haze rule and the proposed affordable clean energy rules. Delaying their filing one year will allow us to reckon the outcomes of these environmental regulations and develop a more informed resource plan.

    In August, they published their ESG Sustainability Report, which gives investors and others insight into their environmental, social and governance commitments. On slide 15 through 17, you'll note highlights from their report and a glimpse into how their electric utilities plant and service and resource fuse are evolving due to significant investments in low cost renewable energy and transmission that enables regional wind development.

    Last, but certainly not least, February 4, 2019, marked the official go-live date for their fresh Customer Information System. This 37-month project is their biggest system upgrade in the generation. I'm proud of the project team for its result throughout the project and for executing a seamless cutover scheme to succor ensure continued customer satisfaction.

    I'd also fancy to give special recognition to Coyote Station in North Dakota for achieving two milestones. By year-end, the plant exceeded 3 million megawatt hours produced, the second highest yearly generation amount in the plants 38-year history and crossed over the 3 million manhour without a loss time incident. The plants terminal loss time incident occurred 18 years ago. Congratulations to Coyote Station employees for these significant accomplishments and thank you to any of their employees for continuing to achieve safety first.

    Our manufacturing companies also experienced notable accomplishments in 2018. BTD their constrict metal fabricator and largest manufacturing traffic increased sales by 19% in 2018 and the Georgia location is profitable in the terminal half of the year. The company achieved this while reporting its lowest OSHA rate and highest on-time delivery in history.

    T.O. Plastics celebrated its 70th anniversary in 2018 and achieved 6% overall sales growth and a 29% enlarge in earnings, driven mostly by lower income tax rates. The company's horticulture segment continues to grow through key account relationships and fresh product launches.

    Northern Pipe Products and Vinyltech had an exceptional year supported by strong market demand and prices, and continued excellent operational performance. They positively contributed to earnings, while remaining highly competitive. Both companies continue to prove -- improve in the markets they serve by demonstrating flexibility and responsiveness to customer needs. We're targeting additional organic volume growth in these companies in 2019.

    Employees across their organization are aligned with their growth strategy, which includes capital investment, continued improvement in operations and talent development. It's with much appreciation that I congratulate them on a job well done in 2018. In 2019, they will continue to execute on utility rate ground growth and create additional organic growth in the manufacturing businesses.

    Now, I'll turn it over to Kevin for the fiscal perspective.

    Kevin Moug -- Senior Vice President & Chief fiscal Officer

    Well, thank you, Chuck; and wonderful morning, everyone. I will cover the following items: their 2018 fiscal results; their liquidity position; the strength balance sheet and corporate credit ratings; the enlarge in their 2019 indicated annual dividend; their five-year capital expenditure scheme and their 2019 traffic outlook.

    We are pleased with their strong 2018 fiscal performance. Revenues grew approximately 8% and earnings grew approximately 14% with any their reporting segments showing year-over-year increases in revenues and earnings. They earned $2.06 per share, which compared with $1.82 per share terminal year.

    Our 2018 recrudesce on equity was 11.5% on an equity ratio of 54.5%. Their two platform strategy continues to deliver higher returns on equity on a higher equity layer when compared to holding company peers.

    Let me now provide an overview of 2018 earnings by segment, as shown on slides 20 and 21. Electric segment net earnings increased $5 million year-over-year. Key drivers involve increased revenues due to more propitious weather, year-over-year earnings improved by $0.11 a share due to the weather and compared to standard weather was propitious by $0.07 a share, increased revenues due to interim rates associated with their North Dakota common rate case, net of estimated refunds, which was implemented in January of 2018, interim rates associated with their South Dakota rate case went into result in October of 2018, increased renewable resource, rider revenues in Minnesota and North Dakota, and increased Minnesota SIP revenues.

    These items were partially offset by a $9.6 million reduction in revenues related to a provision for refunds to recognize that current retail rates in their service region and FERC approved transmission tariffs, their recovering federal income taxes in excess of lower rates under tax reform, lower North Dakota environmental cost recovery rider revenue due to the impact from lower tax rates, a reduction in the recrudesce on equity component of the rider in the lower investment balance subject to recovery from depreciation. For their North Dakota and South Dakota transmission costs recovery riders due to the impact of lower tax rate and reduced transmission costs. Other items impacting the segment's earnings were higher operating and maintenance, property tax and depreciation expenses.

    We did occupy a scheduled maintenance outage in 2018 at their stout Stone plant that cost $2.9 million. They don't occupy any planned maintenance outages in 2019.

    In income tax, expense was lower in 2018, mainly due to the reduction in federal corporate tax rates from 35% to 21% and the reversal of excess deferred taxes.

    Net earnings for the Manufacturing segment increased $1.8 million year-over-year. Key elements of this improvement are as follows: BTD's revenues increased $36.8 million, of which $33.8 million came from increased product sales to any its major finish markets, $12.7 million of this enlarge relates to higher material costs that were passed through to customers with the balance due to increased sales and improved pricing. BTD's scrap metal revenues also increased due to higher volumes and higher scrap sales prices. These increases were offset in allotment by higher cost of goods sold and operating expenses, and higher income taxes due to the elimination of the Section 199 deduction, which was eliminated in 2018 and the writedown of deferred tax liabilities in 2017, which lowered terminal year's income tax expense. These items resulted in a $1.2 million enlarge in BTD's year-over-year earnings.

    T.O. Plastics revenues improved $1.9 million, mainly due to increased sales of horticultural containers. The increased revenues were partially offset by higher cost of goods sold, labor, freight and operating expenses. Earnings before taxes increased slightly year-over-year, however due to a lower tax rate earnings improved $600,000 at T.O. Plastics.

    The Plastics segment's earnings increased $2.1 million year-over-year as a result of a 9.4% enlarge in PVC pipe prices, a 2.3% decrease in pounds of pipe sold. The enlarge in sales prices more than offset higher cost of goods per pound sold and lower sales volumes. The net impact of these items resulted in an 11.3% improvement in Gross margins. Sales volumes were lower in the terminal four months of 2018 compared with the identical time period in 2017, primarily due to the increased sales from hurricane-related impacts in the Gulf Coast region. Those dynamics favorably impacted earnings by an estimated $0.09 a share in 2017, and the propitious variance due to tax reform was offset by a loss of the Section 199 deduction in 2018 (technical difficulty) lower tax expense in 2017 from a $3.3 million reduction in deferred tax liabilities due to tax reform.

    Our corporate expenses before taxes increased $4 million year-over-year, primarily due to an enlarge in charitable contributions due to the establishment of the Otter Tail Corporation Charitable Foundation in 2018, the enlarge in employee profit costs and in other corporate costs. They realized the $5 million net enlarge in tax savings in the corporate costs heart in 2018, primarily due to the writedown of deferred tax assets in 2017 from tax reform. This was offset by an enlarge in tax expense, mostly related to uncertain tax positions and the establishment of a valuation allowance on the recoverability of sure state net operating losses. And they experienced a reduction in tax savings as a result of the federal tax rate change. The net result of their lease items was $1 million year-over-year reduction in corporate expense.

    Moving to slide 22, let's review their fiscal condition and liquidity. terminal year, they had no equity financing activity and don't expect any equity issuances in 2019. Their two credit agreements are in residence until October 31 of 2023 between expected cash rush generated from 2019 operating activities and these credit facilities. They occupy the appropriate levels of liquidity to support both of their traffic platforms. They currently expect to carry out a private placement of debt at Otter Tail Power Company in the purview of $150 million to $170 million during the terminal half of 2019 in connection with their rate ground growth. And, in 2018, any three rating agencies affirmed Otter Tail Corporation and Otter Tail Power's ratings and outlook. And they remain committed to maintaining investment grade credit ratings and we'll manage their operations to reflect that commitment.

    As shown on slide 24, the Board of Directors increased their indicated annualized dividend rate from $1.34 per share to $1.40 per share. This 4.5% enlarge is a result of their solid 2018 performance and their 2019 outlook, the company's strong balance sheet, liquidity, cash generation profile and their commitment to enhancing shareholder returns. They expect future dividend increases to be in line with earnings growth, while maintaining a targeted payout ratio in the purview of 60% to 70% and they occupy paid dividends on their stock for 80 years for 321 consecutive quarters.

    Slide 25 highlights their capital expenditure plans for the 2019 through 2023 timeframe. They expect capital expenditures for 2019 to be $203 million. Planned expenditures for this year includes $61 million for the Merricourt wind project and $40 million for the Astoria Station natural gas-fired plant. These investments will continue to positively impact the Corporation's earnings and returns on capital.

    The five-year capital scheme calls for approximately $973 million in utility projects, 45% of this capital spend will be recovered through riders. The scheme also includes $97 million for the manufacturing and plastics businesses. In their updated compounded annual growth rate in rate ground over the 2018 through 2023 timeframe is projected to be 8%, using 2018 as the ground year.

    Slide 26 reflects their 2019 consolidated earnings per share guidance of $2.10 to $2.25. This guidance includes their strategies for improving future results, the cyclical nature of the manufacturing businesses as well as current regulatory factors facing their electric segment. Their electric segment's 2019 net income is expected to be higher than 2018 based on constructive outcome in the South Dakota rate case, increased AFUDC for planned capital projects, including Merricourt wind project in the Astoria natural gas plant, along with increased revenues from the North Dakota generation cost recovery rider on the Astoria Station. Increased revenues from the completion of the stout Stone South-Ellendale project and additional transmission investments related to their South Dakota transmission reliability project, decreased operating and maintenance expenses due to a decrease in pension medical workers' compensation and retiree medical benefits, their discount rate is increasing in 2019 to 4.5% from 3.9%, driven by the increasing interest rate environment. These items are offset by standard weather. Weather favorably impacted their 2018 earnings per share by $0.07 compared to normal.

    Higher property tax and depreciation expense due to larger transmission projects being achieve into service. They expect increased earnings from their manufacturing segment in 2019 due to increased sales at BTD and the recreational vehicle, lawn and garden and agricultural finish markets, also increased scrap revenues due to stronger sales volumes, the Increased earnings at T.O. Plastics, primarily driven by increased sales in horticultural life science and industrial finish markets. The backlog for this segment is approximately $211 million for 2019 compared with $166 million a year ago.

    We expect Plastics' 2019 net income to be lower than 2018. They are expecting lower operating margins due to increasing resin prices and slightly higher sales volumes compared to terminal year.

    In corporate costs, net of tax are expected to be lower in 2019.

    Our current earnings guidance for 2019 reflect 68% of their earnings from their electric segment and 32% of their earnings from their manufacturing and plastics segments. This compares with 66% and 34%, respectively, in 2018. The enlarge in the electric earnings fuse is being driven by the rate ground growth related to Merricourt, Astoria and South Dakota reliability projects. They expect the long-term earnings fuse to continue to spin back in line with 75% of earnings from their electric segment and 25% of their manufacturing and plastics segments net of unallocated corporate costs. This will be driven by the capital plan, which calls for approximately 91% of their capital spend over the 2019 through 2023 timeframe to be in the electric segment. They believe their 2019 guidance further positions us to achieve a 5% to 7% compounded annual growth rate in earnings per share using 2018's $2.06 a share.

    Our 2019 guidance is dependent on the traffic and the economic challenges their two platforms will visage this year. For the utility, key drivers involve constructive outcome in the South Dakota rate case and successful execution of their rate ground growth projects. For BTD, key drivers involve continued operational improvements across any locations to further improve their recrudesce on sales margins. And while earnings are expected to decline in 2019 for Plastics, this segment continues to be a strong complement to their portfolio by providing strong earnings, cash flows to support their dividend and returns on invested capital.

    We are now ready to recall your questions.

    Questions and Answers:

    Operator

    (Operator Instructions) Their first question comes from Paul Ridzon with KeyBanc.

    Paul Ridzon -- Key Banc Capital Markets -- Analyst

    Good morning. How are you?

    Charles MacFarlane -- President & Chief Executive Officer

    Good morning, Paul.

    Paul Ridzon -- Key Banc Capital Markets -- Analyst

    Could you give just some background on this charitable contribution and what they should watch for going forward?

    Charles MacFarlane -- President & Chief Executive Officer

    Sure, Paul. I cherish the question. They have, for a number of year, been considering establishing the foundation for, well, both Otter Tail Corporation and then they also occupy established one for the Otter Tail Power Company as well. And they wanted to, in 2018, certainly succor procure the foundations off on the right foot with the wonderful commitment to fund those organizations going forward, and so you note a probably a much healthier contribution made for the Otter Tail Power -- I'm sorry the Otter Tail Corporation foundation in that $2 million amount, the Power Company is a $0.5 million.

    And as they benign of watch forward, I would narrate you that future contributions are ultimately subject to the success, the fiscal success that we're having at both of the entities, but in the utility we're looking for the future benign of range, I would say, in that $2 million to $500,000 purview on a go-forward basis and at the parent company depending on results you could see, I suppose, in a purview of $300,000 to $600,000 a year.

    Paul Ridzon -- Key Banc Capital Markets -- Analyst

    So '18 was just benign of getting this -- the faultfinding mass.

    Charles MacFarlane -- President & Chief Executive Officer

    Yes.

    Paul Ridzon -- Key Banc Capital Markets -- Analyst

    And then relative to your EEI data, it looks fancy some CapEx moved from '19 to '20, can you give a limited more detail there?

    Charles MacFarlane -- President & Chief Executive Officer

    Sure. The movement, Paul, relates to the Astoria -- Merricourt. The movement is the Merricourt project when you -- in terms of what you -- they saw at EEI and then what they note now, we've seen a bit of a shove back in the timing of the Merricourt project. And so basically the project isn't going away. It's just a movement of dollars from '19 into '20.

    Paul Ridzon -- Key Banc Capital Markets -- Analyst

    Got it, OK. So everything fundamentally still the same, just the timing shift?

    Charles MacFarlane -- President & Chief Executive Officer

    Yup.

    Paul Ridzon -- Key Banc Capital Markets -- Analyst

    And then I know I interrogate this every call, but pressures you're seeing maybe from the profit of tax reform being competitively reduced in the manufacturing segments?

    Charles MacFarlane -- President & Chief Executive Officer

    Paul, they just haven't seen that. With couple of their -- as they talk about in the press release and in my comments, they were actually -- they saw expense uplift from some of their customers in 2019 both in benign of across the board at BTD and T.O. Plastics. They were able to procure expense increases in residence with customers where they thought it was appropriate and needed. They haven't had any shove back from customers looking for benign of a reduction in pricing, because of the tax savings were picking up in the manufacturing businesses. It doesn't express that it couldn't happen, but they certainly are seeing any of that and of course they actually occupy -- they could be looking for the identical things on their supply side as well when they negotiate their prices with their supply ground and given the PVC commodity nature of that traffic prices were up in 2018 in the PVC pipe traffic and that was really a reflective of market conditions. We're seeing some softening of prices they saw that in the fourth quarter and as they head into '19, but it's really more market driven that it is having anything to carry out with tax reform.

    Paul Ridzon -- Key Banc Capital Markets -- Analyst

    What's driving that softening in the market?

    Charles MacFarlane -- President & Chief Executive Officer

    I believe that there -- they as they went through '18, they saw much stronger prices than they expected. Now, as they head into the -- they completed the fourth quarter, they saw some uplift in their resin costs. They believe saw some pullback in market pricing as it relates to just demand and competition. And as they spin into '19, we're seeing similar -- there's some announced resin expense increases here in the first quarter, we'll note if they stick fully, but they expected some of it's going to stick and we've seen some softening in sales prices that started in the fourth quarter and it's really benign of market related and it's what's driving it.

    Paul Ridzon -- Key Banc Capital Markets -- Analyst

    Okay. Thank you very much.

    Charles MacFarlane -- President & Chief Executive Officer

    Thanks, Paul.

    Operator

    Our next question comes from Chris Ellinghaus with Williams Capital.

    Christopher Ellinghaus -- The Williams Capital Group -- Analyst

    Hey, guys. wonderful morning.

    Charles MacFarlane -- President & Chief Executive Officer

    Hi, Chris. wonderful morning, Chris.

    Christopher Ellinghaus -- The Williams Capital Group -- Analyst

    Can talk about the Georgia, you'd mentioned that it was profitable in the second half of the year. Are you expecting that trend to continue?

    Charles MacFarlane -- President & Chief Executive Officer

    Thanks for the question, Chris. Yes, they are. They more -- fancy a 30% enlarge in volume year-over-year in Georgia. So we've got some leverage there and they continue to note a wonderful backlog at that site. We've continued to improve operationally, then improve dramatically around their on-time delivery and work with a number of customers on pricing, so they anticipate that similar or better results as they had in the terminal six months of '18 going forward into '19.

    Christopher Ellinghaus -- The Williams Capital Group -- Analyst

    Does that express BTD had some pretty strong revenue growth? Are you expecting particularly with the way the backlog look, you're expecting another really wonderful revenue year there?

    Charles MacFarlane -- President & Chief Executive Officer

    We are definitely expecting an increase, I would say, in the backlog 35% of the allotment expense or 35% to 40% is metal and a lot of these prices that are in the backlog assume metal prices that were probably based on 2018 final quarter and we've seen that drop a little. So the metal impact in the '19 backlog is likely overstated a limited bit, but they carry out anticipate wonderful growth in any the segments where -- there are some of those segments that you're not going to note that benign of growth. They occupy been awarded programs in the Ag sector that are fresh to us, signification it's just not higher volume of the identical allotment they were making, they are going to be making parts of it that they weren't in previous year. So it's a market share growth there.

    Christopher Ellinghaus -- The Williams Capital Group -- Analyst

    Okay. Kevin, is the foundation donations that you were talking about, would you anticipate that those would likely stay sort of fourth quarter benign of events?

    Kevin Moug -- Senior Vice President & Chief fiscal Officer

    Yes.

    Christopher Ellinghaus -- The Williams Capital Group -- Analyst

    Okay. And lastly, you talked about the competition increasing in plastics a limited bit, is there -- was there a lot of slack in capacity that some of your competitors may occupy been trying to utilize or procure your utilization higher or what -- where is that competition coming from?

    Charles MacFarlane -- President & Chief Executive Officer

    Yeah. I mean, I believe that there is a lot of the -- some of the larger competition certainly has capacity out there in the -- in their plants. Some of that competition is also vertically integrated and that there are resin manufacturers and there's always some potential or were there want to occupy their profits occur and whether it's at their resin plants or their PVC businesses. And so they did note some of that happened and there's been -- it's -- at least, looks to be continuing into the first quarter here. I mean, we're only a month and a half into the year so far, but they occupy seen sales prices benign of continue with those limited bit reduced levels from that were in the fourth quarter.

    Christopher Ellinghaus -- The Williams Capital Group -- Analyst

    Okay. Thanks for the details, guys. I cherish it.

    Charles MacFarlane -- President & Chief Executive Officer

    You're welcome.

    Operator

    Our next question is a follow-up question from Paul Ridzon with KeyBanc.

    Paul Ridzon -- Key Banc Capital Markets -- Analyst

    Just back to the terminal question, the -- at BTD, the decrease in metal prices will impact revenues, but shouldn't impact net income?

    Kevin Moug -- Senior Vice President & Chief fiscal Officer

    Correct. The metal prices are passed through to the customer, but they carry out parade up in the backlog as far as total allotment prices.

    Paul Ridzon -- Key Banc Capital Markets -- Analyst

    Kevin, when you talked about and talks about the '19 electric utility outlook, you said something about O&M and pension, like, I benign of missed that, could you quickly review what you said?

    Kevin Moug -- Senior Vice President & Chief fiscal Officer

    Sure. I mean, we're -- they expect, in large part, lower O&M at the utility in part, because we're -- their discount rate went up on the pension scheme and their other profit programs and they had a discount rate of 3.9%, Paul, in 2000 -- that they expend for 2018 and then now in 2019, given where interest rates spin benign of that terminal half of the year, their discount rate went up to 4.5%.

    Paul Ridzon -- Key Banc Capital Markets -- Analyst

    And should they also watch for decrease in O&M, because of the plant outage loss?

    Kevin Moug -- Senior Vice President & Chief fiscal Officer

    Yes. Yup.

    Paul Ridzon -- Key Banc Capital Markets -- Analyst

    So the O&M line in total should be down? Correct? Is that unbiased to say?

    Kevin Moug -- Senior Vice President & Chief fiscal Officer

    Yes.

    Paul Ridzon -- Key Banc Capital Markets -- Analyst

    Okay. Thank you very much for the clarification.

    Operator

    And I'm not showing any further questions on the phone lines.

    Charles MacFarlane -- President & Chief Executive Officer

    Well, thank you for your questions and support Otter Tail Corporation. With continued execution on the utility growth projects and strong operational performance in their manufacturing segment, they remain confident in their skill to deliver shareholder value. In 2019, they will focus on continuing to improve BTD profitability and they will further refine the long-term growth strategy for Northern Pipe and Vinyltech and T.O. Plastics, and they will continue to execute on Otter Tail Power's major generation and technology projects. They believe this will allow us to the deliver on their 2019 guidance of $2.10 to $2.25 a share.

    Thank you for joining their call. They cherish your interest in Otter Tail Corporation, and they watch forward to a successful 2019.

    Operator

    Ladies and gentlemen, this does conclude today's presentation. You may now disconnect, and occupy a wonderful day.

    Duration: 38 minutes

    Call participants:

    Loren Hanson -- lieutenant Secretary, Treasurer & Manager of Investor Relations

    Charles MacFarlane -- President & Chief Executive Officer

    Kevin Moug -- Senior Vice President & Chief fiscal Officer

    Paul Ridzon -- Key Banc Capital Markets -- Analyst

    Christopher Ellinghaus -- The Williams Capital Group -- Analyst

    More OTTR analysis

    Transcript powered by AlphaStreet

    This article is a transcript of this conference convene produced for The Motley Fool. While they strive for their ridiculous Best, there may be errors, omissions, or inaccuracies in this transcript. As with any their articles, The Motley Fool does not assume any responsibility for your expend of this content, and they strongly embolden you to carry out your own research, including listening to the convene yourself and reading the company's SEC filings. please note their Terms and Conditions for additional details, including their Obligatory Capitalized Disclaimers of Liability.

    Motley Fool Transcribers has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.



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