Atlantic Power Corporation Announces February 2012 Common Share Dividend
February 15 2012 - 2:01AM
PR Newswire (Canada)
BOSTON, Feb. 15, 2012 /CNW/ - Atlantic Power Corporation (the
"Company") today announced its distribution for the month of
February 2012. A dividend of Cdn$0.09583 per common share will be
payable on March 30, 2012 to holders of record at the close of
business on February 29, 2012. Tax Information for
ShareholdersAtlantic 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 25% withholding tax rate for holders that
are not residents of Canada, which may be reduced pursuant to an
applicable tax treaty. The withholding tax rate is 15% for
U.S.-resident holders that qualify for the benefits of the Canada –
U.S. Income Tax Convention. Non-Canadian holders may be required by
their brokers to complete a Form NR301 (or an equivalent form) in
order to demonstrate their entitlement to a treaty-reduced rate of
withholding tax after December 31, 2012. U.S. and other
non-Canadian holders should consult their brokers about the
requirement to provide such forms. 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 is a
leading publicly traded, power generation and infrastructure
company with a well diversified portfolio of assets in the United
States and Canada. Our power generation projects sell electricity
to utilities and other large commercial customers under long-term
power purchase agreements, which seek to minimize exposure to
changes in commodity prices. The net generating capacity of the
Company's projects is approximately 2,140 MW, consisting of
interests in 31 operational power generation projects across 11
states and 2 provinces, one 53 MW biomass project under
construction in Georgia, and an 84-mile, 500 kilovolt electric
transmission line located in California. Atlantic Power also owns a
majority interest in Rollcast Energy, a biomass power plant
developer with several projects under development. Atlantic Power
is incorporated in British Columbia, headquartered in Boston and
has offices in Chicago, Toronto, and Richmond, B.C. Our corporate
strategy is to generate stable, contracted cash flows from our
existing assets to sustain our dividend payout to shareholders
while increasing the value of the company through accretive
acquisitions in North American markets. Our dividend is currently
paid monthly at an annual rate of Cdn$1.15 per share. Atlantic
Power has a market capitalization of approximately $1.5 billion 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
the Company's website. SOURCE Atlantic Power Corporation Atlantic
Power Corporation CONTACT:
http://www.atlanticpower.comhttp://photos.prnewswire.com/prnh/20110809/NE49346LOGO
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