Atlantic Power Corporation Announces April 2011 Common Share Dividend
15 April 2011 - 4:19PM
Business Wire
Atlantic Power Corporation (TSX: ATP) (NYSE: AT) (the “Company”)
today announced its distribution for the month of April 2011. A
dividend of Cdn$0.0912 per common share will be payable on May 31,
2011 to holders of record at the close of business on April 29,
2011.
Tax Information for Shareholders
Atlantic Power Corporation designates this 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 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.
The Company’s common share dividend is subject to a 15%
withholding tax for U.S. holders. 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 Corporation owns and operates a diverse fleet of
power generation and infrastructure assets in the United States.
Our power generation projects sell electricity to utilities and
other large commercial customers under long-term power purchase
agreements, which seek to minimize exposure to changes in commodity
prices. Our power generation projects in operation have an
aggregate gross electric generation capacity of approximately 1,962
megawatts in which our ownership interest is approximately 878 MW.
Our corporate strategy is to generate stable cash flows from our
existing assets and to make accretive acquisitions to sustain our
dividend payout to shareholders, which is currently paid monthly at
an annual rate of Cdn$1.094 per share. Our current portfolio
consists of interests in 13 operational power generation projects
across ten states, one biomass project under construction in
Georgia, and a 500 kilovolt 84-mile electric transmission line
located in California. Atlantic Power also owns a majority interest
in Rollcast Energy, a biomass power plant developer with several
projects under development.
Atlantic Power trades on the New York Stock Exchange under the
symbol AT, on the Toronto Stock Exchange under the symbol ATP and
has a market capitalization of approximately $1.0 billion. For more
information, please visit the Company’s website at
www.atlanticpower.com.
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