BOSTON, April 15, 2013 /PRNewswire/ -- Atlantic
Power Corporation (TSX: ATP) (NYSE: AT) (the "Company" or "Atlantic
Power") today announced its distribution for the month of April
2013. A dividend of Cdn$0.03333
per common share will be payable on May 31,
2013 to holders of record at the close of business on
April 30, 2013.
Tax Information for Shareholders
Atlantic Power Corporation designates its entire 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 may 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. 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 owns and operates a diverse fleet of power
generation and infrastructure 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 2,966 MW in which its aggregate ownership interest is
approximately 2,049 MW. Its current portfolio of continuing
operations consists of interests in twenty-eight operational power
generation projects across ten states in the United States and two provinces in
Canada. Atlantic Power also has a 53 MW biomass project under
construction in Georgia, and
recently acquired Ridgeline Energy, Inc., a wind and solar
development company located in Seattle,
Washington, which enhances its ability to develop, acquire
and operate wind and solar energy projects in the United States and Canada. Atlantic
Power also owns a majority interest in Rollcast Energy, a biomass
power plant developer in North
Carolina.
Atlantic Power has a market capitalization of approximately
$600 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
the Company's website.
Cautionary Note Regarding Forward-looking
Statements
To the extent any statements made in this news release contain
information that is not historical, these statements are
forward-looking statements within the meaning of Section 27A of the
U.S. Securities Act of 1933, as amended, and Section 21E of the
U.S. Securities Exchange Act of 1934, as amended and
forward-looking information as defined under Canadian securities
law (collectively, "forward-looking statements").
Certain statements in this news release may constitute
"forward-looking statements", which reflect the expectations of
management regarding the future growth, results of operations,
performance and business prospects and opportunities of the Company
and its projects and other matters. These statements, which are
based on certain assumptions and describe the Company's future
plans, strategies and expectations, can generally be identified by
the use of the words "may," "will," "project," "continue,"
"believe," "intend," "anticipate," "expect" or similar expressions
that are predictions of or indicate future events or trends and
which do not relate solely to present or historical matters.
Forward-looking statements involve significant risks and
uncertainties, should not be read as guarantees of future
performance or results, and will not necessarily be accurate
indications of whether or not or the times at or by which such
performance or results will be achieved. A number of factors
could cause actual results to differ materially from the results
discussed in the forward-looking statements, including, but not
limited to, the factors discussed under "Risk Factors" in the
Company's periodic reports as filed with the Securities and
Exchange Commission and applicable securities regulatory
authorities in Canada from time to
time. Although the forward-looking statements contained in this
news release are based upon what are believed to be reasonable
assumptions, investors cannot be assured that actual results will
be consistent with these forward-looking statements, and the
differences may be material. These forward-looking statements
are made as of the date of this news release and, except as
expressly required by applicable law, the Company assumes no
obligation to update or revise them to reflect new events or
circumstances.
SOURCE Atlantic Power Corporation