BOSTON, April 15, 2013 /CNW/ - 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