DEDHAM, Mass., June 1, 2015 /PRNewswire/ -- 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
4.79%, which will be payable September 30,
2015.
The Series 3 Shares dividend rate was calculated on May 31, 2015 to be 4.79%, representing the sum of
the Canadian Government 90-day Treasury Bill yield (using the
three-month average result of 0.61%) plus 4.18%.
Tax Information for Shareholders
The Corporation
designates the dividend on each of the Series 1 Shares and the
Series 2 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 ("PPAs"), which seek to minimize exposure to
changes in commodity prices. Pro forma for the expected sale of the
Wind Projects, 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; Atlantic Power Preferred
Equity Ltd.