DEDHAM, Mass., March 1, 2016 /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 4.64%,
which will be payable June 30,
2016.
The Series 3 Shares dividend rate was calculated on February 29, 2016 to be 4.64%, representing the
sum of the Canadian Government 90-day Treasury Bill yield (using
the three-month average result of 0.46%) plus 4.18%.
Tax Information for Shareholders
The Corporation designates the dividend on each of the Series 1
Shares, the Series 2 Shares and the Series 3 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 for advice regarding the tax
consequences of purchasing or owning preferred shares of the
Corporation.
About Atlantic Power Preferred Equity Ltd.
The Corporation is 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. 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.
Atlantic Power's power generation projects in operation have an
aggregate gross electric generation capacity of approximately 2,141
megawatts ("MW") in which its aggregate ownership interest is
approximately 1,504 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
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