BOSTON, March 5, 2014 /PRNewswire/ -- Atlantic Power
Corporation (Atlantic Power) and Atlantic Power Preferred Equity
Ltd. (TSX: AZP.PR.A and AZP.PR.B) (the Corporation), a subsidiary
of Atlantic Power, announced that the Corporation has declared
quarterly dividends of Cdn$0.303125
per share on its Cumulative Redeemable Preferred Shares, Series 1
(the Series 1 Shares) and Cdn$0.437500 on its Cumulative Rate Reset
Preferred Shares, Series 2 (the Series 2 Shares).
The dividends on the Series 1 Shares and the Series 2 Shares are
to be paid on March 31, 2014 to shareholders of record at the
close of business on March 17, 2013.
Tax Information for Shareholders
The Corporation designates the dividend on each of the Series 1
Shares and the Series 2 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 regarding the tax consequences of purchasing or
owning preferred shares of the Corporation.
About Atlantic Power Preferred Equity Ltd.
The Corporation is a corporation incorporated under the laws of
the Province of Alberta and is an
indirect, wholly-owned subsidiary of Atlantic Power. The
Corporation directly holds Atlantic Power's business and power
generation and other assets in British
Columbia, operates as a holding company and indirectly holds
certain of Atlantic Power's business and power generation and other
assets in the United States,
including Atlantic Power's Curtis
Palmer, Manchief, Frederickson, Naval Station, North Island,
Naval Training Center, Oxnard, Greeley, Kenilworth, and Morris power generating
facilities.
About Atlantic Power
Atlantic Power owns and operates a diverse fleet of power
generation assets in the United
States and Canada. Atlantic Power's power generation
projects sell electricity to utilities and other large commercial
customers largely under long-term power purchase agreements, which
seek to minimize exposure to changes in commodity prices. Its
power generation projects in operation have an aggregate gross
electric generation capacity of approximately 2,950 MW in which its
aggregate ownership interest is approximately 2,025 MW. These
totals exclude the Company's 40% interest in the Delta-Person
generating station that the Company entered into an agreement to
sell in December 2012. Its current portfolio consists of
interests in twenty-eight operational power generation projects
across eleven states in the United
States and two provinces in Canada.
Atlantic Power has a market capitalization of approximately
$300 million and trades 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
Amanda Wagemaker, Investor
Relations
(617) 977-2700
info@atlanticpower.com
Copies of financial data and other publicly filed documents are
filed on SEDAR at www.sedar.com or on EDGAR at
www.sec.gov/edgar.shtml under "Atlantic Power Corporation" or on
Atlantic Power's website.
SOURCE Atlantic Power Corporation