DEDHAM, Mass., June 1, 2018 /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 5.35%,
which will be payable September 28,
2018.
The Series 3 Shares dividend rate was calculated on May 31, 2018 to be 5.35%, representing the sum of
the Canadian Government 90-day Treasury Bill yield (using the
three-month average result of 1.17%) plus 4.18%.
Tax Information for Shareholders
The Corporation designates the dividend on each of the Series 1
Shares, Series 2 Shares and 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 holds,
directly or indirectly, Atlantic Power's business and power
generation and other assets in British
Columbia and the United
States.
About Atlantic Power
Atlantic Power is an independent power producer that owns power
generation assets in nine states in the
United States and two provinces in Canada. The
generation projects sell electricity and steam to investment-grade
utilities and other creditworthy large customers predominantly
under long‑term Power Purchase Agreements (PPAs) that have
expiration dates ranging from 2019 to 2037. The Company seeks
to minimize its exposure to commodity prices through provisions in
the contracts, fuel supply agreements and hedging
arrangements. The projects are diversified by geography, fuel
type, technology, dispatch profile and offtaker (customer).
The majority of the projects in operation are 100% owned and
directly operated and maintained by the Company. The Company
has expertise in operating most fuel types, including gas, hydro,
and biomass, and it owns a 40% interest in one coal project.
Atlantic Power's shares trade 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 the Company's financial data and other publicly filed
documents are available 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.
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SOURCE Atlantic Power Corporation