DEDHAM, Mass., Sept. 1, 2015 /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 4.68%, which will be
payable December 31, 2015.
The Series 3 Shares dividend rate was calculated on August 31, 2015 to be 4.68%, representing the sum
of the Canadian Government 90-day Treasury Bill yield (using the
three-month average result of 0.50%) plus 4.18%.
Tax Information for Shareholders
The Corporation designates the dividend on each of the Series 1
Shares, the Series 2 Shares and the 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 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, 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. The Company'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.
Atlantic Power's power generation projects in operation have an
aggregate gross electric generation capacity of approximately 2,137
megawatts ("MW") in which its aggregate ownership interest is
approximately 1,502 MW. The Company's current portfolio
consists of interests in twenty-three operational power generation
projects across nine states in the United
States and two provinces in Canada.
Atlantic Power 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.
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SOURCE Atlantic Power Corporation