OAKVILLE, ON, Aug. 21,
2017 /PRNewswire/ - Algonquin Power & Utilities Corp.
(TSX: AQN, NYSE: AQN) ("APUC") announced today that eligible
shareholders resident in the United
States are now able to enroll their common shares in APUC's
shareholder dividend reinvestment plan (the "Reinvestment Plan").
Since its launch in 2011, the Reinvestment Plan was
previously only available to residents of Canada.
The expansion of APUC's Reinvestment Plan will, for the first
time, allow investors resident in the
United States to participate, including APUC's U.S.-based
employees. Expansion of the Reinvestment Plan to include U.S.
residents provides an additional means to deliver shareholder value
to U.S. investors and is well aligned with the listing of APUC
common shares for trading on the New York Stock Exchange.
The distribution of common shares under the Reinvestment Plan
has now been registered under the U.S. Securities Act of 1933, and
certain other administrative changes have also been made to
facilitate the participation of residents of the United States. Shareholders resident
in the United States should review
the prospectus relating to the Reinvestment Plan, including the
applicable income tax considerations and risk factors included
therein, which forms part of the Registration Statement on Form F-3
filed with the U.S. Securities and Exchange Commission on
August 18, 2017.
Enrolling in the Reinvestment Plan
If you are a registered shareholder, you must complete, sign and
return an enrolment form in order to become a Reinvestment Plan
participant. Enrolment forms and information on the Reinvestment
Plan may be obtained from AST Trust Company (Canada), either through their website
(www.canstockta.com) or by contacting them directly at
1-800-387-0825. Non-registered beneficial holders of common shares
(i.e. shareholders who hold their common shares through an
intermediary such as a broker, dealer, bank, trust company,
financial organization or any other nominee) should consult with
their intermediary to determine the procedures for participation in
the Reinvestment Plan. Once a shareholder is enrolled in the
Reinvestment Plan, participation will continue automatically unless
terminated in accordance with the terms of the Reinvestment
Plan.
Shareholders who wish to enroll in the enhanced Reinvestment
Plan must do so no less than five (5) business days prior to the
dividend record date.
Copies of the Reinvestment Plan and the enrolment form, as well
as additional information about the Reinvestment Plan, including a
series of questions and answers are also available on the APUC
website at www.AlgonquinPowerandUtilities.com.
Enrolment Must Occur by September
22nd for the Third Quarter Dividend
On August 10, 2017, APUC announced
that a dividend of U.S. $0.1165 per
share had been declared on its common shares, payable on
October 13, 2017 to the shareholders
of record on September 29, 2017, for
the period from July 1, 2017 to
September 30, 2017. Shareholders can
elect to receive the dividend in the amount of Cdn. $0.1480, and the dividend is considered an
'eligible dividend' for Canadian income tax purposes.
The common share dividend will be paid in cash or, if a
shareholder has enrolled in the enhanced Reinvestment Plan,
dividends (net of applicable withholding tax) will be reinvested in
additional shares of APUC as per the Reinvestment Plan, based on
equivalent Canadian funds. For the third quarter of 2017, shares
issued under the Reinvestment Plan will be acquired by way of a
treasury issuance at the average market price less a 5% discount as
determined in accordance with the Reinvestment Plan.
Those shareholders who do not elect to participate in the
Reinvestment Plan will receive their regular quarterly cash
dividends (net of applicable withholding tax).
About Algonquin Power & Utilities Corp.
APUC is a North American diversified generation, transmission
and distribution utility with $10
billion of total assets. Through its two business groups,
APUC provides rate regulated natural gas, water, and electricity
generation, transmission, and distribution utility services to over
750,000 customers in the United
States, and is committed to being a North American leader in
the generation of clean energy through its portfolio of long term
contracted wind, solar and hydroelectric generating facilities
representing more than 1,250 MW of installed capacity. APUC
delivers continuing growth through an expanding pipeline of
renewable energy development projects, organic growth within its
rate regulated generation, distribution and transmission
businesses, and the pursuit of accretive acquisitions. Common
shares and preferred shares are traded on the Toronto Stock
Exchange under the symbols AQN, AQN.PR.A, and AQN.PR.D.
APUC's common shares are also listed on the New York Stock Exchange
under the symbol AQN.
Visit APUC at www.AlgonquinPowerandUtilities.com and follow
us on Twitter @AQN_Utilities.
SOURCE Algonquin Power & Utilities Corp.