Atlantic Power Corporation Announces January 2011 Common Share Dividend
January 14 2011 - 12:37PM
Business Wire
Atlantic Power Corporation (TSX: ATP) (NYSE: AT) (the “Company”)
today announced its distribution for the month of January 2011. A
dividend of Cdn$0.0912 per common share will be payable on February
28, 2011 to holders of record at the close of business on January
31, 2011.
Tax Information for Shareholders
Atlantic Power Corporation designates this dividend to be an
“eligible dividend” pursuant to subsection 89(14) of the Income Tax
Act (Canada) and its equivalent in any provinces 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.
The Company’s common share dividend is subject to a 15%
withholding tax for U.S. holders. U.S. individuals holding shares
in taxable accounts may be eligible to receive a credit on their
U.S. income tax return for this withholding tax. U.S. individuals
holding the Company’s common shares in Individual Retirement
Accounts (“IRAs”) may be exempt from withholding tax pursuant to
the Canada – U.S. Income Tax Convention.
Taxpayers should always seek their own independent qualified
professionals regarding the tax consequences of purchasing or
owning common shares of the Company. Individuals who believe the
withholding tax exemption applies to their IRA should contact their
broker to determine how to claim the exemption.
About Atlantic Power
Atlantic Power Corporation is an independent power producer with
power projects located in major markets in the United States. The
Company’s current portfolio consists of interests in 12 operational
power generation projects across nine states, a 500 kilovolt
84-mile electric transmission line located in California, one wind
project under construction in Idaho, one biomass project under
construction in Georgia, and a number of development projects in
five states. The Company’s power generation projects in operation
have an aggregate gross electric generation capacity of
approximately 1,778 megawatts (or "MW"), in which the Company’s
ownership interest is approximately 828 MW.
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