DEDHAM, Mass., Dec. 1, 2017 /CNW/ -- Atlantic Power
Corporation ("Atlantic Power") and Atlantic Power Preferred Equity
Ltd. (TSX: AZP.PR.A, AZP.PR.B and AZP.PR.C) (the "Corporation"), a
subsidiary of Atlantic Power, announced the dividend rate on the
Corporation's outstanding Cumulative Floating Rate Preferred
Shares, Series 3 (AZP.PR.C) (the "Series 3 Shares") will be 5.11%,
which will be payable March 30,
2018.
The Series 3 Shares dividend rate was calculated on November 30, 2017 to be 5.11%, representing the
sum of the Canadian Government 90-day Treasury Bill yield (using
the three-month average result of 0.93%) plus 4.18%.
Tax Information for Shareholders
The Corporation designates the dividend on each of the Series 1
Shares, Series 2 Shares and Series 3 Shares to be an "eligible
dividend" pursuant to subsection 89(14) of the Income Tax Act
(Canada) and its equivalent in any
of the provinces and territories of Canada. U.S. individual
or other non-corporate taxpayers should be eligible for the reduced
rate of tax currently applicable to "qualified dividends" provided
that the investor meets the holding period and any other
requirements. Taxpayers should always seek their own
independent qualified professionals for advice regarding the tax
consequences of purchasing or owning preferred shares of the
Corporation.
About Atlantic Power Preferred Equity Ltd.
The Corporation is incorporated under the laws of the Province
of Alberta and is an indirect,
wholly-owned subsidiary of Atlantic Power. The Corporation holds,
directly or indirectly, Atlantic Power's business and power
generation and other assets in British
Columbia and the United
States.
About Atlantic Power
Atlantic Power owns and operates a diverse fleet of twenty-two
power generation assets across nine states in the United States and two provinces in
Canada. Atlantic Power's power generation projects sell
electricity to utilities and other large commercial customers
largely under long-term PPAs, which seek to minimize exposure to
changes in commodity prices. The aggregate electric
generating capacity of this portfolio on a gross ownership basis is
approximately 1,793 megawatts ("MW"), and on a net ownership basis
is approximately 1,440 MW. Eighteen of the projects are
currently operational, totaling 1,633 MW on a gross ownership basis
and 1,280 MW on a net ownership basis. The remaining four
projects, all in Ontario, are not
operational, three due to revised contractual arrangements with the
offtaker and the other, Tunis, has
a forward-starting 15-year PPA that will commence with the
commercial operation of the plant before June 2019.
Atlantic Power's shares trade on the New York Stock Exchange
under the symbol AT and on the Toronto Stock Exchange under the
symbol ATP. For more information, please visit the Company's
website at www.atlanticpower.com or contact:
Atlantic Power Corporation
Investor Relations
(617) 977-2700
info@atlanticpower.com
Copies of the Company's financial data and other publicly filed
documents are available on SEDAR at www.sedar.com or on
EDGAR at www.sec.gov/edgar.shtml under "Atlantic Power
Corporation" or on the Company's website.
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SOURCE Atlantic Power Corporation