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Section 1: 8-K (FORM 8-K)

ottr20200317_8k.htm
false 0001466593 0001466593 2020-03-17 2020-03-17

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of report (Date of earliest event reported): March 17, 2020

 

OTTER TAIL CORPORATION

(Exact name of registrant as specified in its charter)

 

Minnesota

0-53713

27-0383995

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(I.R.S. Employer

Identification No.)

 

215 South Cascade Street, P.O. Box 496, Fergus Falls, MN 56538-0496

(Address of principal executive offices, including zip code)

 

(866) 410-8780

(Registrant’s telephone number, including area code)

 

Not Applicable

(Former name or former address, if changed since last report)

 

Securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934:

 

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Shares, par value $5.00 per share

OTTR

The Nasdaq Stock Market LLC

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.

 

Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 


 

 

Item 7.01     Regulation FD Disclosure

 

On March 17, 2020 Otter Tail Corporation issued a press release discussing its company-wide plan to address potential implications of the COVID-19 pandemic. A copy of the press release is furnished herewith as Exhibit 99.1.

 

 

Item 9.01     Financial Statements and Exhibits

 

 

(d)

Exhibits

 

 

99.1

Press Release issued March 17, 2020.

  104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

 

 

 

 

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

   

OTTER TAIL CORPORATION

   

 

Date: March 17, 2020

 

By:

/s/ Kevin G. Moug  
     

Kevin G. Moug

     

Chief Financial Officer

 

 

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Section 2: EX-99.1 (EXHIBIT 99.1)

ex_177730.htm

 

Exhibit 99.1

 

 

 

Media contact: Stephanie Hoff, Director of Corporate Communications, (218) 739-8535 or (218) 205-6179

 

Investor contact: Loren Hanson, Manager of Investor Relations, (218) 739-8481 or (800) 664-1259

 

For release: March 17, 2020 

 

Otter Tail Corporation activates plan to address COVID-19

 

Fergus Falls, MN – Otter Tail Corporation (the Company) has activated a company-wide plan to address potential implications of the COVID-19 pandemic.

 

“Otter Tail Corporation is supporting all the locations we serve with collective efforts to mitigate the spread of COVID-19,” said Otter Tail Corporation President and CEO, Chuck MacFarlane. “Our business continuity and pandemic plans put the health and safety of our employees at the forefront and are designed to help ensure continued electric reliability and operational excellence across our operating companies.”

 

Based on recommendations from the Centers for Disease Control and Prevention (CDC) and regional health organizations, the Company is working to slow the spread of the virus. Actions include, but are not limited to:

 

 

Encouraging employees to exercise social distancing in all situations.

 

Increasing sanitization efforts across all operating companies.

 

Activating internal preparedness teams across all operating companies.

 

Shifting in-person meetings to technology-based meetings.

 

Encouraging employees to conduct work from home where possible.

 

Requiring sick employees to stay home.

 

Eliminating non-essential work travel, including between operating companies.

 

Eliminating non-essential visitors into Otter Tail Corporation and operating company facilities.

 

Requiring employees to self-quarantine if they have been out of the country, on a cruise, or near a United States hot spot.

 

Maintaining appropriate staffing for all critical business functions and remaining open and available to serve customers.

 

“We will remain diligent in our precautionary health and safety efforts,” said MacFarlane. “To date, COVID-19 has not had a material impact on Otter Tail Corporation. However, we cannot predict whether COVID-19 will have a material impact on the financial condition of, or results of operations for, Otter Tail Corporation.”

 

About the Corporation: Otter Tail Corporation has interests in diversified operations that include an electric utility and manufacturing businesses. Otter Tail Corporation stock trades on the Nasdaq Global Select Market under the symbol OTTR. The latest investor and corporate information are available at www.ottertail.com. Corporate offices are in Fergus Falls, Minnesota, and Fargo, North Dakota.

 

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