AltaGas Ltd. is raising its dividend by six per cent.

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The energy infrastructure company says it will pay a quarterly dividend of 28 cents per share, up from 26.5 cents per share.

The increased payment to shareholders came as AltaGas says it expects normalized earnings per share of $1.85 to $2.05 in 2023.

The result was forecast along with expectations for normalized earnings before interest, taxes, depreciation and amortization of $1.5 billion to $1.6 billion next year.

AltaGas says its capital program for 2023 is expected to total about $930 million, excluding asset retirement obligations.

The company also expects about $90 million of capital investments that were approved in 2022 to be spent in early 2023.

This report by The Canadian Press was first published Dec. 5, 2022.